Oversea Forex Trading transaction and zeroise international credit limit. - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > General Discussions (Off-Topic) > Everything Else

Everything Else For off-topic conversation. The rules are relaxed in here, but play nice!

Reply
 
Thread Tools
  #1  
Old 07-15-2014
Junior Member
 
Join Date: Oct 2012
Posts: 7
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 67%
iTrader: (0)
Default Oversea Forex Trading transaction and zeroise international credit limit.

Dear Friends

I m from INDIA, I have just got letter from my HDFC Credit card deptt that any online

trading transaction through credit card attracts FEMA(foreign Exchange management act)

and reserver back of india donot permit remittance in any form towards overseas foreign

exchange trading ( including through electronic / internet trading portals or by use of

credit /debit cards)

I hv been doing online business since last couple of years and am doing comfortably

transactions through my credit card.

Now at this juncture when bank is going to stop my credit card transaction what could i

find its alternative solutions? please suggest and help solve my problem.

Thanks
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 07-15-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 77,592
Thanks: 6,066
Thanked 9,043 Times in 8,332 Posts
Activity: 100%
Longevity: 83%
iTrader: (7)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

You need a professional financial consultant savvy in India financial system...go and consult one
Reply With Quote
  #3  
Old 07-15-2014
aspkin's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 11,373
Thanks: 3,074
Thanked 4,234 Times in 1,793 Posts
Activity: 17%
Longevity: 100%
iTrader: (24)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

What do you currently use? What payment processor/merchant account? And what do you use it for?
Reply With Quote
  #4  
Old 07-15-2014
Junior Member
Threadstarter  
 
Join Date: Oct 2012
Posts: 7
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 67%
iTrader: (0)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

hi

I am doing online business - buying and selling. I use payment processor thru paypal which is automatically deducted from my credit card.

According to RBI has stop people like me to use the transaction from my credit card. They say it is illegal one to do online business. U cn checkmore information at Bloomberg UTV : Forex Trading is Illegal in India : Critical Analysis


A letter from my bank -
Do help me .

Thanks




Quote:
Originally Posted by aspkin View Post
What do you currently use? What payment processor/merchant account? And what do you use it for?
Attached Images
File Type: jpg IMG_20140715_214038.jpg (93.3 KB, 0 views)

Last edited by cagbaazee; 07-15-2014 at 01:38 PM.
Reply With Quote
  #5  
Old 07-15-2014
aspkin's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 11,373
Thanks: 3,074
Thanked 4,234 Times in 1,793 Posts
Activity: 17%
Longevity: 100%
iTrader: (24)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

So you use PayPal to facilitate Forex transactions (Which according to you is illegal to do in your country?)

Why not stop using the credit card and start using hard cash? Money in your bank? It's risky to use your credit card not just because the interest involved but due to the nature of your investments (HIGH risk forex transactions). It's speculative at best.

Can't say much more other than maybe try other 3rd party processors, maybe bitcoin related but than again you're pushing your luck.
Reply With Quote
  #6  
Old 07-15-2014
Junior Member
Threadstarter  
 
Join Date: Oct 2012
Posts: 7
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 67%
iTrader: (0)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

Quote:
Originally Posted by aspkin View Post
So you use PayPal to facilitate Forex transactions (Which according to you is illegal to do in your country?)

Why not stop using the credit card and start using hard cash? Money in your bank? It's risky to use your credit card not just because the interest involved but due to the nature of your investments (HIGH risk forex transactions). It's speculative at best.

Can't say much more other than maybe try other 3rd party processors, maybe bitcoin related but than again you're pushing your luck.
Please Note : i use to purchase items frm alibaba/ other site and resell at ebay.. All they request credit card., Check the letter enclose in my last reply.
Reply With Quote
  #7  
Old 07-16-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 77,592
Thanks: 6,066
Thanked 9,043 Times in 8,332 Posts
Activity: 100%
Longevity: 83%
iTrader: (7)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

Rajinder Kumar, have you gone to other banks to explore options?
Reply With Quote
  #8  
Old 07-19-2014
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,343
Thanks: 5,612
Thanked 9,143 Times in 7,106 Posts
Activity: 0%
Longevity: 96%
iTrader: (6)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

Quote:
Originally Posted by rsot View Post
Rajinder Kumar, have you gone to other banks to explore options?
Why use his name on a stealth forum?
__________________
REAP WHAT YOU SOW. LIFE IS SO NOT FAIR.
Reply With Quote
  #9  
Old 07-21-2014
Junior Member
Threadstarter  
 
Join Date: Oct 2012
Posts: 7
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 67%
iTrader: (0)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

Hi
I went to the bank for instructions and they said that all are same - Rules and regulations of RBI. The process of sending money is same as of the other bank too. So i want to stop using Credit card and use my cash.. How will it work ?
Help....



Quote:
Originally Posted by rsot View Post
have you gone to other banks to explore options?
Reply With Quote
  #10  
Old 07-21-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 77,592
Thanks: 6,066
Thanked 9,043 Times in 8,332 Posts
Activity: 100%
Longevity: 83%
iTrader: (7)
Default Re: Oversea Forex Trading transaction and zeroise international credit limit.

Quote:
Originally Posted by cagbaazee View Post
Hi
I went to the bank for instructions and they said that all are same - Rules and regulations of RBI. The process of sending money is same as of the other bank too. So i want to stop using Credit card and use my cash.. How will it work ?
Help....
Perhaps you should research on setting up your own business in India.

As for credit card - few options to consider: 1) Other credit card provider? 2) Entropay (online virtual credit card service) 3) Gift card use
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Got hit with a safe trading environment limit?! infinity Auction Listing 6 12-08-2011 08:51 AM
Premier account transaction/income limit LoopHole Subscriber Discussions 7 09-07-2011 08:15 PM
how to avoid getting taxed when ship from oversea? williamlee Subscriber Discussions 6 08-14-2011 07:19 PM
Forex - trading account - online smellybelly Everything Else 23 07-18-2011 10:04 PM
You have exceeded your global trading limit. Need help davitsui eBay Suspensions 1 04-21-2010 05:45 PM


Aspkin Group

All times are GMT -5. The time now is 03:08 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58