Paypal + Xoom for commerical purpose ?

Hi,

I have a verified paypal personal account [Indian] which I use regularly to accept my payment [for freelance work to a studio]. I wish to withdraw my money and I was thinking of trying XOOM since it seems to be very fast and reliable.

Can I constantly withdraw 1000$ every month ? i.e. sending money to myself[to my bank account] using xoom and my paypal account ...or is xoom against these kind of transactions ?
my xoom account and paypal account have same postal address...will I get into any trouble if I try it ?

Which will be the best option for withdrawing from paypal if not xoom ? I heard that paypal ships checks through ordinary post ,which is completely insecure for me....or should I wait for the new "withdraw to card" option to become popular ?

It would be great if you can clear my doubts regarding the commercial use of xoom

 

There is no problem to use Xoom for the purpose you have mentioned over here but be sure that you are using Bank Transfer everytime. I am also using the same for the same purpose. I have already done 7-8 transactions and everytime I am getting my money on 5th or 6th in my Bank Account.

Hope this helps you !!

 

yes you can withdraw $1000 every month happily!

 

Thank you very much for the quick replies guys ! I guess I'll go with Xoom then

I'm planning to send some money to my bank account now,but I got stuck at the place where they ask for the "Bank Branch Code"...

could anyone tell me whether I should use the IFSC Code or the MIRC Code ? [I found a list at h**p://rbidocs.rbi.org.in/rdocs/content/pdfs/68774.pdf]

Thanks

 

Of course, if you are someone who cares about not breaking the terms of Paypal contract then you would know that using the personal paypal account for commercial or business purposes would be prohibited by Paypal.

However, if you want to live on the edge and breaking Paypal terms along the way then go ahead.

https://www.paypal.com/helpcenter/m...lutionTopic=20004&solutionId=12797&isSrch=Yes

 

@deluxdon : Thanks dude,I'll try that too.

@eddy: I recently started sunig paypal,and I will eventually upgrade to Premier since the "5 transactions per year" limit will not workout for me anyway. I'm currently considering my options for withdrawing...i.e paypal check/xoom

Could someone who uses xoom please tell me what the Bank Branch code should be ? [IFSC/MIRCS ?]

Thanks

 

Upgrade before Paypal finds out that you are using a personal account for commercial purpose or else there is no telling what they would do as they have full rights to charge you fees or terminate your accounts.

 

Ramsree:

Different banks have different branch code. It depends on which state and city you live in.

Contact your bank and ask for branch code.

I have just made my first transcation with Xoom and hope the branch code is correct....

gopalgkb

 

Withdraw to credit card option is now available for Indians, yopu can go with that now and the fees is less than xoom too.

Moreover withdrawing $1000 to your bank a/c may get you under income tax issues, so be careful.
Pm me for more info.

 

Thanks guys,. I upgraded to Paypal premier and used xoom for the first time...hope it goes well

 

Then everything should go well..

Anyhow, better take the cash once a month and actually if you're taking a check from them its damn slow...

But as you're transferring to Bank account, then its ok I think...

Anyhow, which bank are you transferring to?

 

everything ent well,I got the money deposited into my account exactly after 3 days

thanks for your help guys