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Paypal first withdraw Help !!!

Discussion in 'PayPal' started by pulikuttann, Apr 19, 2007.

  1. #1
    In my paypal I have got $200 and I am planning to withdraw it.

    Since I am from India I am looking to transfer it via xoom.
    How long it takes to reach here ???
    How much each (paypal and xoom) charges for the whole transaction ???
     
    pulikuttann, Apr 19, 2007 IP
  2. eddy2099

    eddy2099 Peon

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    #2
    In Paypal, the one paying does not pay any fees like paying someone on Paypal. Xoom however would charge you $8 for the transfer to your Indian Bank account . Use the Xoom calculator to check the fees https://www.xoom.com/fees?disb=deposit&co=IN&amount=200

    It should take a few days before you get your money. Like what the rest said, select 'Bank Deposit' as the option and not any other methods and they would be illegal in your country.
     
    eddy2099, Apr 19, 2007 IP
  3. inworx

    inworx Peon

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    #3
    Withdraw it from a check as all the other ways are considered as illegal..
     
    inworx, Apr 20, 2007 IP
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  4. gr8liverpoolfan

    gr8liverpoolfan Notable Member

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    #4
    Xoom isn't ( if you choose bank deposit), and check will take you anything between 3-6 weeks, depending on the postal services in your area
     
    gr8liverpoolfan, Apr 20, 2007 IP
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  5. kgrad

    kgrad Well-Known Member

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    #5
    I suggest you withdraw via check. I have never had a problem with that.
     
    kgrad, Apr 20, 2007 IP
  6. getjimmy

    getjimmy Prominent Member

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    #6
    I dont think so,As per my knowledge only bank transfer is considered legal.
     
    getjimmy, Apr 20, 2007 IP
  7. pulikuttann

    pulikuttann Banned

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    #7
    So transfer via xoom will not cost anything for paypal ???
     
    pulikuttann, Apr 20, 2007 IP
  8. eddy2099

    eddy2099 Peon

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    #8
    No, not on the Paypal side. Because you (buyer) are paying Xoom (seller). Treat this like a normal sale which you would make. In Paypal, buyers don't pay charges, the seller does that.

    Xoom is not an official withdrawal method offered by Paypal.
     
    eddy2099, Apr 20, 2007 IP
  9. pulikuttann

    pulikuttann Banned

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    #9
    So how much time it takes me to reach the check or credited amount to my account ???
     
    pulikuttann, Apr 20, 2007 IP
  10. deluxdon

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

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    #10
    BTW have you checked Current Exchange Rate at XOOM :confused:

    US$ 1.00 = INR 40.8130 :eek:
     
    deluxdon, Apr 20, 2007 IP
  11. eddy2099

    eddy2099 Peon

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    #11
    From the other posts by your fellow Indians here have mentioned, it would take about 3 to 5 days to your account. Do not take checks unless you order it direct from Paypal.
     
    eddy2099, Apr 20, 2007 IP
  12. eddy2099

    eddy2099 Peon

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    #12

    There is nothing much you can do about it really. That's just part of foreign exchange. The other option would be through Paypal which would take up to 45 days and there is also the additional 2.5% foreign exchange fees. Take that as a business expense.

    Alternatively, don't withdraw anything from your paypal account and spend it all from there.

    The last time I withdraw from paypal, the exchange rate was US$1.00 = SGD$1.47 , the official rates are about US$1 = SGD $1.53.
     
    eddy2099, Apr 20, 2007 IP
  13. pulikuttann

    pulikuttann Banned

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    #13
    But I have seen that 1 USD = Rs 42 ???
    Its seen in the foreign exchange rates.But why low in xoom ?
     
    pulikuttann, Apr 20, 2007 IP
  14. eddy2099

    eddy2099 Peon

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    #14
    Probably that is where Xoom makes money :) They got to make a profit too.
     
    eddy2099, Apr 20, 2007 IP
  15. gr8liverpoolfan

    gr8liverpoolfan Notable Member

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    #15
    Nobody works for charity eh ;)

    Paypal will give you a better rate, but the check will take time to arrive and you are charged $5 per check, regardless of the amount.

    Your choice of what you want, to the OP
     
    gr8liverpoolfan, Apr 20, 2007 IP
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  16. Rohit patel

    Rohit patel Prominent Member

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    #16
    Well if you can wait for sometimes than you should hold this amount because exchange rate is too low at the moments.

    US$ 1.00 = INR 40.8130
     
    Rohit patel, Apr 20, 2007 IP
  17. anthonyn

    anthonyn Well-Known Member

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    #17
    Withdraw you funds via paypal, paypal and only paypal.Dont go through any other website.Just make a withdrawl request and ask them to send a cheque. Once you get it, you can deposit the same in your bank account and there you go!!!! All this sounds good but the fact is its time consuming. Why dont you exchange some of your funds bit by bit through a trusted DP member who may be willing to pay you by online bank transfer ?Example, ICICI Bank or HDFC Bank?
     
    anthonyn, Apr 20, 2007 IP