Are you looking to buy products and services online using paypal or are you looking to start selling products and services choosing paypal as a payment option. I am going to give you a closer look of paypal so kindly look for my points before starting using paypal as a payment option. There are various alternatives available other than paypal but now i am going to give you a brief overview with what can you get with paypal and what are your requirements?
Things to know before choosing paypal as a payment option:
If you are going to receive payments online and this is the reason you are choosing paypal to accept the payments then you must clear these points.
You can not withdraw above 500 USD per day from your Paypal account balance. This limitation is set by RBI guidelines and FEMA policies.
so simply if you are going to receive payments in bulk you must find out a better alternative.
Now second thing is "you can not send and receive payments locally" that is simply "Neither you can send any payment to indian resident locally using paypal nor you can receive paypal payment from any indian resident. In addition to this indian paypal users can not accept paypal personal payments from other countries.
Paypal currency conversion is lower than the actual live exchange value.So you have to loss about 2 Rupee per USD while withdrawing money from paypal account balance to your local bank account in india.
However still paypal is the best and mostly used payment processor inspite of great fee.Note that paypal does not have any withdrawal fee for localized bank transfer in india.
Like this post.....we would like to hear from you...just drop a comment..
Things to know before choosing paypal as a payment option:
Paypal is the world best and mostly used payment processor worldwide so if you want to accept payment globally paypal is the best option for you.
- Paypal support local withdrawals to almost all countries of the world.
- It involves buyer protection which is very strong, hence if you will not get the product or service you bought from a vendor, you can raise claim and paypal will refund you.
If you are going to receive payments online and this is the reason you are choosing paypal to accept the payments then you must clear these points.
You can not withdraw above 500 USD per day from your Paypal account balance. This limitation is set by RBI guidelines and FEMA policies.
so simply if you are going to receive payments in bulk you must find out a better alternative.
Now second thing is "you can not send and receive payments locally" that is simply "Neither you can send any payment to indian resident locally using paypal nor you can receive paypal payment from any indian resident. In addition to this indian paypal users can not accept paypal personal payments from other countries.
Paypal currency conversion is lower than the actual live exchange value.So you have to loss about 2 Rupee per USD while withdrawing money from paypal account balance to your local bank account in india.
However still paypal is the best and mostly used payment processor inspite of great fee.Note that paypal does not have any withdrawal fee for localized bank transfer in india.
Like this post.....we would like to hear from you...just drop a comment..
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