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Paypal help for withdrawing money to Indian bank accnt.

Discussion in 'PayPal' started by Alex129, Jun 24, 2009.

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  1. #1
    Hey guys.... i live in India and want to transfer paypal money to SBI (State Bank of India) without credit card. Paypal says it will not charge anything for amt above Rs.7000 INR. But, i just want to know 4 things:

    1. Whether I have to make my internet banking accnt active for paypal to transfer money to SBI.

    2. I am newbie and just doing my 1st paypal transaction. I am gonna transfer around $200 to my SBI account. So, please tell me what will be the total charge that paypal will incure and also the cost SBI will charge. So, $200 in rupees will be around say Rs.9600 (considering $1= Rs.48, i know $ vary). Then what will be the actual amount I will get after all charges have been cut?

    3. Will paypal pay me in Indian Rupees????

    4. What is Return Fee mentioned in Help-> Withdrawal Fees.

    Please help me guys...

    Thanks in advance.
     
    Alex129, Jun 24, 2009 IP
  2. anildewani

    anildewani Peon

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    #2
    1. Whether I have to make my internet banking accnt active for paypal to transfer money to SBI.
    No. That's not necessary.

    2. I am newbie and just doing my 1st paypal transaction. I am gonna transfer around $200 to my SBI account. So, please tell me what will be the total charge that paypal will incure and also the cost SBI will charge. So, $200 in rupees will be around say Rs.9600 (considering $1= Rs.48, i know $ vary). Then what will be the actual amount I will get after all charges have been cut?
    SBI won't charge you anything. For example exchange rate is 48, then you will get (200 x 48) - 50 (paypal charge)

    3. Will paypal pay me in Indian Rupees????
    Yes.

    Hope that helps :)
    correct me, if m wrong.
     
    anildewani, Jun 24, 2009 IP
    Digital_shubhi likes this.
  3. Dir-listing.com

    Dir-listing.com Peon

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    #3
    Hi Alex1299

    i am also Indian i don't know about SBI bank. if you have ICICI Bank means i will help you. doing transactions from past 3 years ok let me know if u have ICICI Bank
     
    Dir-listing.com, Jun 24, 2009 IP
  4. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #4
    Hereyou go all 4 answers.

    1. No. Its not needed.

    2. At the time of withdrawal you can see final amount which you'll get in your bank account. There is no any additional charge from SBI.

    3. Yes. Paypal pay you in INR.

    4. 250 Rs. (Return Fee applicable if you given wrong details of bank name or IFSC code or account number or mismatch in account name).

    DON.
     
    deluxdon, Jun 24, 2009 IP
  5. RightMan

    RightMan Notable Member

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    #5
    While doing withdrawal, you can see currency converter link. Click on the link to see the actual amount in Indian Rupees that you would get in your bank account.

    Paypal will not charge you anything, if the withdrawal is above INR 7000.

    Return fee of Rs. 250 is charged by Paypal and is deducted if your withdrawal request do not go through successfully, due to name mis-match or wrong IFSC bank code.

    Regards,

    RightMan
     
    RightMan, Jun 24, 2009 IP
    anildewani likes this.
  6. justcoolswam

    justcoolswam Peon

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    #6
    No its not necessary to use internet banking if you want to transfer money
     
    justcoolswam, Jun 24, 2009 IP
  7. geekology

    geekology Active Member

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    #7
    1. No
    2. From my experience I can say that PayPal exchange rate is about Rs1.5/- less than the current exchange rate. So if current exchange rate is 48 you can expect (46.5*200) in your account
    3. Yes.
    4. In case you don't provide the bank details properly and in case the money they sent gets returned, they will charge some money for it.

    I have written an article on 17 PayPal tips sometime back, you may find it useful
     
    geekology, Jun 24, 2009 IP
  8. Alex129

    Alex129 Peon

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    #8
    Hey guys... thanks a lot for your urgent reply...
    Thanks once again.
     
    Alex129, Jun 25, 2009 IP
  9. jhbalaji

    jhbalaji Well-Known Member

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    #9
    Note that PayPal will not Pay you 48INR as such mate
    It's exchange rate mate...
    Today the exchange rate for 48INR is 46INR mate...
    So please not that always 2INR minus from the current exchange value...
     
    jhbalaji, Jun 26, 2009 IP
  10. Dhaval1983

    Dhaval1983 Peon

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    #10
    Why paypal got their own exchange rate? I mean this should not any problem if the amount is low but if the amount is big such as 3000$ then it certainly make the difference. In this case I must say paypal is greedy.
     
    Dhaval1983, Jun 27, 2009 IP