Finally paypal increased the receiving limit for indian users from $500 to $3000 today. Few months back paypal limits all the indian paypal users to receive only $500 in a single transaction.
Dear XXXXX XXXX,
We are pleased to inform you that the RBI will now allow you to receive export-related payments of up to USD 3000 per transaction into your PayPal account, effective immediately.
We sincerely thank you for your understanding and patience over the past few months as we continue to implement the changes required to remain compliant with the RBI guidelines. With these changes completed, you can confidently accept PayPal for your cross-border transactions with our global buyer base of over 100 million active accounts in 190 markets worldwide. We look forward to continuing to support your export business through our global online payment platform.
To comply with the RBI guidelines, you must add a Permanent Account Number (PAN), Purpose Code and local bank account to your PayPal account in order to continue receiving export-related payments.
In case you have any queries, please log into your PayPal account and click on
Contact Us at the bottom of any PayPal page.Sincerely,
The PayPal Team
Lets hope they don’t impose anymore restrictions on indian paypal users.