what is E-currency?

[DayTrader007]

is paypal is safe anough for transacting through credit card

Paypal is absolutely safe and legit. I made hundreds of international transactions with it. But only problem is they charge huge fees of 5% on each transaction. You can receive money from anywhere in the world. But to send money to other country you need credit card or International debit card linked to it.

But it is not possible to send/receive money from one Indian to another Indian.
Why so..? You can ask Govt. and RBI.

 

[DayTrader007]

But one thing has to be remembered that funds transferred into Paypal should be used in purposes laid down by RBI for Forex usage. I used Paypal for getting funds into my Bank Account.

I don't understand this. Can you pls elaborate more.

As per RBI Rules you can not hold any amount in your paypal balance. If you dont transfer it to your Bank account manually, their system transfer it to your bank account automatically after every 24 hours.

 

[Sally.S]

Another different question sought of related to this... where do i get an e-currency exchange license the fastest? I mean are there specific countries that do it faster than others?