PayPal started Bank Transfers in INDIA

Indeed that's great news for Indian, I hope Paypal will add more Asian countries enabling this feature.

 

Wow congrtulation to both for getting payments. Good to see that things is started well and it's great to see payments in 36 hours.

Only problem is low conversion rates but it doesn't matter.

 

Yeah you are right. I think rates should be closer to Bank rates. But it will save our time and cost too so we can ignore rates.

 

But the fault which is not big is paypal won't allow transferring funds to regional banks.
So this is a plan by them to promote Giant banks in india

 

I successfully received paypal funds today in my Bank account via withdraw by bank option. I had done the transaction on 30th October and today (2nd Nov) in my HDFC bank , the amount is reflecting. This has sure made life easier.

 

WOW congrats Kaushal..
Thats too fast.. Never dreamt that
What exchange rate you got ?

 

on 30th Oct ,
Exchange Rate:
1 U.S. Dollar = 38.0737 Indian Rupees

 

thats 1 INR less man

but still we cant complain

 

@matbell you would get the same rate if you do it withdraw by cheque... So .. you can't do anything? . This is better because atleast you are getting it now faster.

 

thanks for the ifsc list.
there is no punjab national bank in pp withdrawl form.

 

Well yet another sucessfull story.

Now I am sure many of us who hold money in PayPal for a long time because of no easy way will convert money in banks.


Rates are same for both way so not much problems. I am sure they will introduce funding option too as US user did.

 

great news, now there is no tension for cheques to arrive.

 

oh, well. This is just very fast...mnay be initially. But I did a transaction initiated on 30th, and its being shown as completed

It says 5-7 business days but this is much less than that, possible because there aren't much requests atm

 

i withdrew yesterday night, am looking foreword to it!

also am waiting for a paypal check for 23 days now hopefully the wait-for-checks problem will end now!

 

Hmm...with many net enabled banks in India, I think PP should increase their supported list of banks soon.

 

But the real problem is that it seems that Indian currency is going to be more stronger, probably around 35 There was a day when it was around 50 but then I didnt knew about DP

 

Me too got my funds successfully transfered to my SBI account.
I withdrew my funds on 30th at 11:00pm IST and I got the notification message on my mobile today at 2:30pm.
Thanks PayPal for making our life easier.

 

hi,
Paypal would certainly boost enthu of Indian merchants now as you have less pains to get the money credited to your account.

I've been using paypal to spend all my income to rents i pay for servers.

maybe some funds would now be withdrawable to me too.

How to find IFSC code is very easy, you don't need to call the bank or hunt here and there.

Tried The following methods on ICICI and HDFC Banks.

1. Login to your Internet Banking Account.
2. Click on fund transfer.
3. Click the link which requires you to add a beneficiary.
4. It would have a link to get you the IFSC code of the recieving bank.
5. HDFC gives you a search function while ICICI would require you to select the city first and agree to terms, on next page they display the IFSC details of the branch which you searched for.

Also i found difference in IFSC code in what bank/netbanking gave me to that of mentioned in cheque leaf.

Also you should know if you have a Business Account with paypal your funds would only reach you if your Bank Name is same as your business account name.
eg. you have "aabbcc.com" as paypal account so your bank account should also be exactly in same name "aabbcc.com"
Account holder name and business name are two different identies in banking terms.

hope this helps people who are still looking for the "IFSC" code.

manu