Has anyone tested out this new feature yet? Where you can withdraw your balance to your credit card instead of a bank account?
Haven't heard of it. Is it available already or "coming soon"? Haven't seen it there the last time I did a withdwaral a few days ago...
It is ready but it does not involve every country. Only those countries which has a '+' after the name can do that https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-approved-signup-countries-outside
India is there but still lots of confusion such as can we withdraw funds from our indian credit card, How much credit card issuing bank charge for that withdrawal etc All are waiting for outcome as nobody give it a try till now
Ya, I think the credit card charge will be slightly higher for this Paypal withdrawal option. I my country, if you withdraw cash by using credit card through ATM, the issuing bank will charge certain fee per one transaction. IN this case, I rather prefer to use debit/prepaid card withdrawal function instead of credit card.
Yes agree with you on this but unfortunately Indian Debit Cards not allowed for this withdrawal function
I understand that the Paypal withdrawal to the Credit Card has a fee of US$5. It is however not the same as withdrawing money from your credit card. Withdrawing money from your credit card is a cash advance and it is taking an unsecured loan from your credit card bank. Usually there may be a fee attached to this and also the interest charges starts on the day of the withdrawal. However, withdrawing paypal funds to your credit card is actually putting money inside your credit card account, it is about the same as overpaying your credit card which technically raises your spending limit. Not all banks support that and you need to check with your bank if that is permitted.
Well, its an easy to use feature., Make sure your cards' bank has a credit facility. I've withdrawn to my Credit Card, took 6 days, but the funds are available as balance on credit card. SO, thats means I can shop/spend that physically or virtually.
At the end of the day, credit card withdrawal feature only seems to be available there where regular bank account withdrawals are not possible..
One of my friend has sent a withdrawal to his credit card request yesterday Will update you about outcome. Thanks
Ok Guys, I think you are missing something here. If you withdraw the money to your debit/ATM card instead of the credit card it will reflect as balance in your account which you can withdraw also.
I tried to withdraw by adding debit card, but I think paypal refuses Indian debit card. has anyone tried?