How to pay in Dollars !!!!!!!!!!!!!!

TraderRavi

low risk profile
#1
Hi Guys, I have a query regarding payments to foreign store/sites in dollars.....like If I want to purchase a binocular, antivirus subscription etc from a US site......Now I have only SBI ATM card , which can't be used to pay in dollars I guess....What is the procedure to obtain mastercard/visa card from SBI......can these cards in indian rupees can be used to pay in dollars ,...is there any extra currency conversion charges etc.......what is the minimum amount need to be deposited...to obtain these card...
 

Vector

Active Member
#2
I don't know about SBI but if u have anHDFC debit card u can create a virtual credit card for the reqd. amount and make a forex payment, any currency.
I have done it myself.
 

NiftyFantasy

Well-Known Member
#3
Hi Guys, I have a query regarding payments to foreign store/sites in dollars.....like If I want to purchase a binocular, antivirus subscription etc from a US site......Now I have only SBI ATM card , which can't be used to pay in dollars I guess....What is the procedure to obtain mastercard/visa card from SBI......can these cards in indian rupees can be used to pay in dollars ,...is there any extra currency conversion charges etc.......what is the minimum amount need to be deposited...to obtain these card...
Hi Ravi,
I dont know exactly as I have never paid for such services but I think you can pay in dollars by using your existing card....bcz when I had opened an account in paypal.com they have asked there for my bank account number and then after they have debited to my AXIS bank a/c for $1.80 for the testing of genuineness of my account...they have asked me to enter the last 6 digits or so from the narration of my debited entry to ensure that my account is genuine.... in result axis bank debited me exactly the same amount in rupees and that was around 81-82 rs. However paypal have credited $1.80 in my paypal account immediately.
Above entry is also like a payment against services and thats why I am assuming that we can use our existing net banking account or credit/debit card to pay in dollars....

:D:D:D:D
 

Vector

Active Member
#4
Hi Ravi,
I dont know exactly as I have never paid for such services but I think you can pay in dollars by using your existing card....bcz when I had opened an account in paypal.com they have asked there for my bank account number and then after they have debited to my AXIS bank a/c for $1.80 for the testing of genuineness of my account...they have asked me to enter the last 6 digits or so from the narration of my debited entry to ensure that my account is genuine.... in result axis bank debited me exactly the same amount in rupees and that was around 81-82 rs. However paypal have credited $1.80 in my paypal account immediately.
Above entry is also like a payment against services and thats why I am assuming that we can use our existing net banking account or credit/debit card to pay in dollars....

:D:D:D:D
When was this ?????

http://www.msigeek.com/6662/changes-to-paypal-user-agreement-in-india-rbi-guidelines

With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways (“RBI Guidelines”).

In order to comply with the RBI Guidelines, the PayPal user agreement in India will be amended for the following services as follows:

Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and
Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.

These guidelines imply that,

You will not be able receive funds more than US$500
You cannot keep money as a PayPal balance
Your customers will need to link a credit card to their account in before sending you money with PayPal
If you are listing products greater than US$500 per transaction then you may need to seek alternative methods of payment, PayPal will not allow to receive payments for any export-related goods or services for an amount exceeding US$500 per transaction.

Courtesy: PayPal India Notification
 

TraderRavi

low risk profile
#5
paypal rules are tight now...besides not every company/store accepts their payment.....but somewhere I read that you cant use your indian card for payment in dollars....:confused:
 

stock72

Well-Known Member
#6
paypal rules are tight now...besides not every company/store accepts their payment.....but somewhere I read that you cant use your indian card for payment in dollars....:confused:
What i experience by paypal is we cant use pay pal service to some one who is in india. if you are paying to companies/service providers outside india u can pay using indian card.
 

PGDIMES

Well-Known Member
#7
My credit card gives me the facility to transact in almost all foreign currency. But additional transaction charges are also taken. It's powered by Mastercard. Can't say the same about debit cards...
 
#8
You've 2 ways as per i know:
1.Get a credit card after that i've no idea what to do. Or
2. Open an account in alertpay.Its free.Its like paypal.But paypal doesn't support indian banks much because indian goverment has put a ban on paypal due to tax related issues.
However i heard that alertpay is supporyting indian banks smoothly.Open an account here :
This is my referral link,i'll also earn some commission if you join using this link :D
https://www.alertpay.com/?hNw/02yq...GZyNr34g==
I myself has 41 $ kept in alertpay which were earned from internet,but never tried to withdraw it till now.
If you think that,i'm fooling you to earn some commission,check it yourself on google.:cool:
 

TraderRavi

low risk profile
#9
Two cards by SBI for international transactions :
1)SBI Gold International Debit Card
2) SBI International ATM cum Debit card

so we need one of these for international transactions....:)
 
#10
Two cards by SBI for international transactions :
1)SBI Gold International Debit Card
2) SBI International ATM cum Debit card

so we need one of these for international transactions....:)
Hey' i've sbi international atm cum debit card. Its red in color and very cute looking :D.It works as normal atm card in india never tried for international transactions
SBI gold International Debit Card is not so cute as SBI International ATM cum Debit card :D
So,go for SBI International ATM cum Debit card :cool: