Will PayPal come to Bangladesh ever? Frankly, my answer is “No”. Well this Claim of mine may annoy you. But this is the truth! Let me explain…
Misconception about PayPal by the Authority
Bangladesh is a developing country. When people send money to Bangladesh, this increases wealth of this country. But when you want to send money outside this country, this rings a red alarm for its wealth.
Now you just want to use PayPal for receiving online income, so is there anything wrong with it. “No”! And this is why they facilitated the service called “Xoom”. You receive and withdraw money with it.
But Bangladeshi authority didn’t get the point yet; like all elderly people who don’t understand a modern facility in against a youngster. Having a PayPal account isn’t just all about, receiving online income.
We know very well that, PayPal is an “Online Wallet”. This allows people to pay for recurring monthly subscriptions for those softwares and online courses which accept only PayPal. And there are many marketing service companies which helps affiliate marketing websites to grow their income.
All these international companies have various payment receiving methods. But amongst all of them, PayPal always possesses a common place for payment gateway.
Limitation of Bangladesh Authority
I am not accusing the authority. We know, Bangladesh is still a developing country. So they have to take some precautions to protect their currency.
Though I have mentioned PayPal benefits for online marketers, but there are people who will misuse this facility by Money Laundering.
Those people will start sending big amounts outside this country, where they won’t have to ask permission from any Bangladeshi authority. In this case, if you can manupulate paypal, then you are good to go.
Remember, Paypal is such a big American company that it won’t answer to any government other than America. So, people could easily add money in their PayPal account.
And send it outside for foreign investment or any illegal action. They won’t have to pay any Bangladeshi taxes for adding money to their paypal account.
So the limitation is, there are no accountability towards Bangladesh Authority if you do transactions by Paypal.
In the End
Its is also true that, before coming to a country paypal checks, if that country is capable enough to deal with them, by connecting with Xoom first.
Xoom is a PayPal service , to scrutinize new countries to see, if they can directly collaborate with Paypal or not.
So after all the discussion, it is clear that, if Paypal agrees to Bangladeshi policies where this authority gets control over people’s money sending, then PayPal could come to Bangladesh.
And PayPal won’t break it’s policies to connect with this country as they have no need for it.
Giving Xoom’s services to countries where Paypal won’t connect, is a way to inform, they will never connect with them with full facilities.
So instead of waiting for PayPal, either you have to arrange PayPal accounts illegally (which is not right), or you approach for other solutions in replacement of PayPal.