Monday, December 21, 2009

Withdraw Funds from Paypal to Any Bank in India

Paypal is the most secure way to do transactions online without revealing credit card details. The good news for Indian users is that they can now withdraw money to their Indian bank accounts within 7 days of submission of request. Paypal deducts a small fee of Rs. 50 if the total withdrawal amount is less than 7000 INR.

First, add a bank account to Paypal and then follow these steps to request for a fund withdrawal.

  1. Login to your Paypal account
  2. Click on Withdrawal under “My Account” tab
  3. Click the first option which says “Withdraw funds to your bank account
  4. Enter the amount to withdraw and select a bank account
  5. Click Continue to proceed to the final step
  6. Paypal will display the withdrawal amount in your local currency
  7. Click Withdraw to complete the withdrawal process

Generally it takes 3-4 days to get the fund deposited in your bank account. Be cautious to provide accurate informations such as account number, IFSC code etc, else the amount will be returned to your Paypal account and a return fee will be charged. Visit RBI's website to find IFSC code for your Bank.

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  1. i using the same method as i hate using credit cards.. moreover this is the only option left for me..

  2. Rajesh, why do you hate using Credit Cards?

  3. It's good that more people now have access to paypal.

    Tracy, Velocity Fulfillment