PayPal Raises Receiving Limit To $3000 From $500 To Indians
Over the past few months, Indian PayPal account holders were restricted to receive more than $500/per transaction in guidelines of RBI, it affected the freelancers,online marketers, merchants and consumers. Now PayPal India come up with the great solution for this in comply with RBI guidelines.
We’ve been notified by the Reserve Bank of India (RBI) that our merchants in India can receive export-related payments for goods and services into their PayPal account up to USD 3000 per transaction (raised from USD 500 per transaction), effective immediately. This is great news as the vast majority of our merchants in India can continue to use PayPal for their online payment service with overseas customers.
- The PayPal Blog
This is a good news for all those merchants/consumers/users who affected by the restriction. But we’re still required to have PAN card and Purpose code to receive export related payments.
If you have any questions, please contact PayPal customer support by logging on to your PayPal account and clicking on ‘contact us’ at the bottom of the page.
For more info, visit The PayPal blog.