Paypal Withdrawl to SBI - $2000USD SAFE?

Discussion in 'PayPal' started by zeecoders, Aug 8, 2009.

  1. #1
    Hello friends,

    I have $2000usd in my paypal account and I want to withdraw it.
    Can I withdraw it to my SBI bank and is it safe?
    Don't the bank staffs will inquire or didn't I got into any problem?
    I am a freelancer and made the money by creating custom websites for my clients.
     
    zeecoders, Aug 8, 2009 IP
  2. Moses8595

    Moses8595 Peon

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    #2
    Yup,It's safe..As long as you had a verified paypal..:)
     
    Moses8595, Aug 8, 2009 IP
  3. deluxdon

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

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    #3
    If you are going to withdraw funds first time then why don't you withdraw just $1k in first attempt and after its success you can go for another $1k withdrawal IMO. Don't forget to add all details properly in paypal (bank name,account name,account number and IFSC code).

    DON.
     
    deluxdon, Aug 8, 2009 IP
  4. zeecoders

    zeecoders Guest

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    #4
    So its safe? How can I pay the tax of that money?
     
    zeecoders, Aug 8, 2009 IP
  5. deluxdon

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

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    #5
    As you are going to withdraw money to your bank account then automatically you need to pay taxes if applicable as per IT slabs. Consult your CA or Financial Advisor for that.

    DON.
     
    deluxdon, Aug 8, 2009 IP
  6. Moses8595

    Moses8595 Peon

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    #6
    I think you can get info from your paypal.just open ur paypal acocunt,Then chick withdraw option.You can find fees
     
    Moses8595, Aug 8, 2009 IP
    blog8491 likes this.
  7. Bohra

    Bohra Prominent Member

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    #7
    Yes its better to withdraw the funds half at a time dont do it all together and yes its very safe
     
    Bohra, Aug 8, 2009 IP
  8. vikassaini01

    vikassaini01 Greenhorn

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    #8
    Well, I generally withdraw $150-$200 from Paypal to my SBI account and I never got any problems....

    I suggest you not to withdraw all amount at once ! Divide it into TXNs of $300-$500 per TXN !!
    And Dont worry abt SBI staff, they are too lame for it !! I Work in SBI !
     
    vikassaini01, Aug 8, 2009 IP
  9. blog8491

    blog8491 Notable Member

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    #9
    Is this first time? Then it's not a good idea to withdraw a such a big amount like this. As Don said, divide it in to few amounts and do it. But the chance for limiting account is high. Make sure you have all details.

    Good luck
    Blog.
     
    blog8491, Aug 8, 2009 IP
    Moses8595 likes this.
  10. techydude

    techydude Member

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    #10
    Regardless of how lame the staff at the bank are {or aren't} it would be real wise for you to split the money up into say 2-3 transactions.

    Ask me what you would lose by having all the money transferred in a single transaction, and I have no clue but its better safe than sorry, IMO.
     
    techydude, Aug 8, 2009 IP
  11. satya_love

    satya_love Banned

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    #11
    I agree with techdude

    I withdrew $1500 last month in 3 parts to my SBI account. It was safe and i didnt face any problem.

    So i would advice you to divide the whole sum into 3-4 parts and then withdraw them one by one after some interval of time.
     
    satya_love, Aug 8, 2009 IP
  12. adithya

    adithya Well-Known Member

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    #12
    Any Bank withdraw to paypal will always pass through RBI since its NEFT transfer
    And larger single NEFT transfer will surely get noticed to Income Tax dept. by RBI along with all details

    And moreover if your annual net income is more than 1.6 lakh/annum you are required to pay Income Tax according to the Government of India laws.

    Its better to be safe than sorry ... Transfer smaller amounts and dont forget to consult any CA to get your Tax returns
     
    adithya, Aug 8, 2009 IP
  13. rathin

    rathin Peon

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    #13
    ya sure it safe also keep in mind,now RB made satement those who haveing account in bank in which the transaction which cross more than 5lacks in the time of 2months will be noticed to them

    are you paying tax ?
     
    rathin, Aug 8, 2009 IP
  14. frontier2002

    frontier2002 Well-Known Member

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    #14
    In my knowledge you can only withdraw $500 per day from Paypal to bank. I don't know your country paypal policy please check
     
    frontier2002, Aug 8, 2009 IP
  15. kunnusingh

    kunnusingh Well-Known Member

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    #15
    i think withdraw in a part. like 1st withdraw $200

    and also first verify your paypal account and submit your all documents so paypal not limit your account.

    its 2% safe
     
    kunnusingh, Aug 9, 2009 IP
  16. zeecoders

    zeecoders Guest

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    #16
    Its already fully verified with all docs submitted.
     
    zeecoders, Aug 9, 2009 IP
  17. deluxdon

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

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    #17
    Thats good. But still i suggest you to withdraw payment partly instead of full 2k at a time.

    DON.
     
    deluxdon, Aug 9, 2009 IP
  18. 11world

    11world Banned

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    #18
    first thing is that it is definitely safe, I have been doing this for quite some time.
    But I would recommend you to withdraw small amount first!

    cheers!
     
    11world, Aug 9, 2009 IP
  19. zeecoders

    zeecoders Guest

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    #19
    Do you guys think $1k and then after one week $1k is ok?
     
    zeecoders, Aug 9, 2009 IP
  20. clade

    clade Peon

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    #20
    Dude if you haven't done anything wrong, Paypal WON'T take your money.

    Paypal is a reputable ebay-owned company, not some offshore investment ponzi.

    Hope this helps.
     
    clade, Aug 9, 2009 IP