Withdraw your Paypal funds to your Indian Bank account

This is one feature which Indian Paypal users can’t live without. Paypal has finally launched support for withdrawing funds to Indian banks. Now one can withdraw Paypal funds directly to their bank account in India.

Paypal has also reduced the transaction fees for transfer to Rs 50/-. Now there is no minimum withdrawal limit. Also if you are withdrawing an amount greater than Rs 7000/- then there is no transaction fees at all. Howz that !

Currently bank accounts in State Bank of India, Bank of India, Canara Bank, Union Bank of India, HDFC Bank, ICICI Bank, ING VYSYA Bank, Axis Bank, Standard Chartered Bank, HSBC Bank and Citibank can be used to withdraw funds. You will also need to know the IFSC code for your bank. You can get that code from your bank. Before you withdraw the amount from PayPal to your Indian Bank account, ensure that name of the bank record and PayPal match character by character else the transaction will not go through and PayPal would also charge a INR 250 processing fee.

Earlier the only way for Indian users to withdraw money was by cheques or by using third party services like Xoom. Now not only transaction fees has been reduced but also we can receive money faster.