Finally - Withdraw Paypal fund to Indian Banks - Yes, legal way

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D

Din

Explorer
After years of waiting, yes, the dream came true !!!

Great news.

Withdraw Paypal fund to Indian Banks now.

Source

In just a few easy steps, you can add your Indian bank account to your PayPal account in order to conveniently withdraw your money.

Login to your PayPal account.
Click the 'Profile' subtab on the Account Overview page.
Click the 'Bank Accounts' link in the Financial Information column.
Click Add.
Fill out the Add Bank Account form.
Click 'Add Bank Account'.
You are now able to withdraw funds from your PayPal account to this bank account.

Which bank can I use to withdraw my money?

State Bank of India , Bank of India, Canara Bank, Union Bank of India, HDFC Bank, ICICI Bank, ING VYSYA Bank, UTI Bank, Standard Chartered Bank, HSBC, Citibank are the participating banks.

How long does it take to receive funds to reach my bank account?

It takes 5-7 business days, but may take more time, depending on your bank's policies.

Are there any minimum or maximum withdrawal amounts?

No, there are no minimum withdrawal amounts or maximum withdrawal amounts. However, a non-verified PayPal members can only withdraw US$500 per month.

How much does it cost?

For withdrawal amounts of more than 7,000 Rupees are free. For withdrawal amounts of less then 7,000 Rupees, there will be a fee of 50 Rupees.

Please note that some banks charge their customers a fee for electronic funds transfers. PayPal can make no assurances that you will not be charged by your bank. Please ask your bank whether it charges for electronic fund transfers before you initiate a withdrawal.
 
That's interesting :)

..by withdrawal you also imply you can pay others with your paypal account ?

anywhere in the world via the web.
 
You could already make and receive payments from/to any Paypal account... and you could already withdraw funds to VISA cards for a while. This is new, however, and better late than never.
 
You could transfer it to you citibank account earlier as well. but it took more than 10 days. But yeah moar banks are better :D
 
so this means i dont need a CC to use pp right?

i can pay with my accnt instead?

where do i get that ifsc number?
 
nopes...you still do. it means that you can withdraw PP funds through your bank account but not add to PP via bank ac.
 
nukeu666 said:
so this means i dont need a CC to use pp right?
i can pay with my accnt instead?

where do i get that ifsc number?
Click to expand...

Any takers for that question? Wondering the same aswell.
 
ifsc number - Almost all banks has it now. Contact your nearest branch and they will give you that number.
 
Have a look at this link for IFSC codes of banks which is needed in paypal account. I am not sure whether this list is latest, but have a look.

Will try to get other banks IFSC codes and will keep you updated.
 
This is really nice. before I used to use XOOM. I tried a test amount of 100$ yesterday. Let me see how long it takes.
 
Chaos said:
Not bad at all... Good for peepz with money stuck in their paypal accounts :P.
Click to expand...
Whats the use... exchange rates have slashed !!

1$=~39 Before it was fun 43:)
But still its g8, I have already started using it.
 
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