hi, can we transfer money from an Indian account (credit card) through paypal to an american account (INR to $) & vice versa? the transfer would be to a friends account & not merchant account. so far i have been using wire transfer, the time & process involved in wire transfers kills me, so looking for an easier alternative. also is there any currency conversion charges applicable. srry for starting my own thread if this is been asked before. thnx in advance
I am not sure what exactly you meant but you can use your CC to make purchase, pay people via paypal but you cannot use it to fund your own account.
If you are asking if you can use your Indian Paypal account to pay your friend in the US then Yes, you most certainly can. Paypal does not restrict you to only paying your fellow citizens but anyone in the world as long as they are paypal members. Like any international payment via credit cards, the bank would be do the currency translation and as long as you have sufficient funds, the payment will clear. However, in Paypal's case, they will give you the option of billing you in US$ and let your bank do the currency conversion or Paypal would do the conversion through their bank tag on 2.5% foreign exchange fees and bill you in INR. You bank most likely would use their own exchange rate and may tag on some foreign exchange fees of their own to the transaction. Like Mixke said, you however cannot use the credit card to fund yourself or give yourself a cash advance as that would be against TOS.
not to myself, to a friends account, and for your opinion "as long as they are paypal members" i doubt 'coz i read we can even allocate funds to anyone just through their email ID and they dont require to have a paypal account. to complete the transfer one has to just fill out his/her bank details and thtz it, the amount would be credited to the target bank account.
You can of course send payment to someone who is not a paypal member but they will need to join in order to get the money because all funds goes to the paypal account.
You can only transfer to your local bank account if your country is one of the 40 odd countries which support it. You cannot send the funds to some other countries apart your own or the US.
thnx Eddy, still something missing here.....i want to say transfer $200 from my credit card in India through paypal to my friends bank account in US, he does not have a paypal account but doesn't mind creating one for himself if he can receive the money from me (India). & if he can only receive it to his paypal account as u said then hw will he be able to get the same transfered to his bank account? or can i directly credit it to his US bank account pretending to be my own account in US? will try transferring a small amount....... will keep posted
Basically, don't pretend or use fake information. Do not break the rules by using someone's elses bank account as your own or else you will have to face the consequences and it can be ugly. What happens when you transfer money to your friend who does not have a Paypal account is that he would receive a Paypal email notification to tell him that someone send him some money and he needs to sign up for a Paypal account in order to receive the money. Since you send him via a credit card through paypal, he would need to set up a business or premier account. Once he does that, he can 'claim' the money. As you know, with Paypal, you can set up your banking details with paypal for you to withdraw your paypal balance from. After your friend set that up, he can initiate a withdrawal to his bank account and that is how he will get the money into his bank account. You cannot do a cash advance for yourself.
isn't cash advance & withdrawal to bank account th same? hmm vry confusing....maybe once i strt transacting i'll know. basically i need paypal for online purchasing and sometimes to transfer small amount to frnds account which currently iam doing through wire transfer. another use wud be to withdraw money frm credit card if that is an option but by reading u r posts i understand it may nt be possible afterall. thnx a lot eddy2099 for all the info to my particular problem really appreciate it. dont knw hw u knw so much
You can send the money from your paypal using your CC to your friends paypal id. The money will be credited to his paypal account. After which he can withdraw the money to his bank account in the US if needed through paypal.
cant wait to try that but rite now i dont have anything to buy in US so would take a little more time to findout until my next transaction.