Atul Karmarkar.Com

Yes, PayPal is at it… again. Over the past few years, I’ve found PayPal to be a convenient mode of payment, so it’s somewhat frustrating to keep getting these updates with regard to compliance with RBI policies. This mail I received last night was another bolt from the blue; 

Surprising I know.. for a bank which used to focus on customer delight. I’ve been a happy customer for over a decade now. However, events over the past few months have left me feeling not so happy with HDFC Bank and their services / policies in general. Effective April ’10, they increased the Average Quarterly Balance (AQB) to [...]

Some months ago, PayPal customers in India were suddenly caught unawares by changes in PayPal’s policies regarding payments and withdrawal of funds. Those problems however, were resolved and things seemed back to normal. Around 3-4 days ago, I received an email from PayPal as below;

Ok, so after all that brouhaha over withdrawal of funds from Indian PayPal accounts, the matter seems to have been resolved for now. PayPal has complied with directives from the RBI on compliance issues regarding settlements for export of goods and services. From now on, when you want to withdraw funds from your PayPal account, you need to [...]

The past couple of days has seen a lot of heartburn all over Twitter and the blogosphere with people cribbing about reversal of payments made to their PayPal accounts. This is affecting only India based users and all payments to and from India are being reversed / suspended. Customers can make payments to India but Indian [...]