PayPal to Axis Bank withdrawal -- Please guide me!

Hi!

A few days ago, I tried to withdraw a small amount ($55) from my PayPal (verified) account to my Axis Bank account. Before withdrawing a big amount, I wanted to test if this type of transaction works or not. The day I withdrew $55, the transaction status was "PENDING" (13-Feb.-2008, 01:55:24 PST). Yesterday when I checked my PayPal account once again, the transaction status was "Completed".

Today when I went to a nearby Axis Bank ATM to check my current account balance, the account was showing my previous balance. Could anybody of you, who have successfully withdrawn PayPal funds to their Axis Bank accounts, please tell me how many days is it exactly going to take to reach the money in my bank account?

I'm really confused at this moment 'cause PayPal status shows 'completed' but I haven't received money in my bank account. I also have accounts in ICICI and HDFC bank. I was thinking to withdraw funds to these accounts, too, but if I don't receive money in my Axis Bank account, I'll not take another risk. Please guide me what should I do now. Is there anything to worry about this transaction?

Thanks!

 

Things take time. It may show up in your bank account within the next few days.

 

Paypal uses NEFT. When a NEFT transfer is made, it takes approx 2 days for the bank to credit the amount in your account. So from the time paypal shows "Completed", you must wait for 2 days + 1 day margin. It works. I too have AXIS bank account and i have successfully transferred large amounts

 

Basically paypal transfer times suck, even though it is 'completed' it still takes time

 

It does not Suck .. considering this You had to wait for cheques when you requested a withdrawal from Paypal so .. It took over 2 months to get that amount to your Bank Account , Now it takes less than one week and you are still not satisfied ..


Now .. NEFT transfers in India which are requested on Weekdays before 2 pm are presented to RBI on same day while those which are placed after 2pm are sent to RBI next day for clearance and forwarding..

Considering this If you request payout before 2 pm IST then it is possible that by next day 2 pm your request would be completed and placed for payment.
Now, this would be sent to RBI for clearance from the Bank that represent Paypal here in India and it takes around 24-36 hours on Bankdays to get credit into your Account..

Just keep this in Mind ... Make transactions before 2 pm IST and you will get funds in your account on second day approximately while if you request after 2PM ISt you would probably get it on 3-4th day..

 

Moneybookers does the whole nine in 2 days, so a week is just two long & can be improved.

 

IT TAKES 4 DAYS FOR AXIS BANK TO SHOW THE BALANCE

 

for me it took 5 days to transfer the money

 

Thanks, Aditya and other people who replied in this thread! Although it's 8th day, I'm yet to receive the PayPal fund in my bank account. I've a question. Has anybody faced a situation when these type of transfers get canceled even after the "completed" status?

 

8 days? Wait for 1 or 2 more days.Dont worry,there are some people who received money after 15-20 days.

 

It will go through, on occasion I have thought the same thing as you.

 

i think its works..also for hdfc bank..

 

If you want to see you 55$ in axis bank than you have to wait till 5-6 Business days. "Completed" status showing when Paypal deposited your money to bank account but Bank take 4 days(more) to credit this dollars.