I have just confirmed with xoom today by calling them on their toll free Indian no. & according the agent on call you can't withdraw your fund from US PayPal to Indian bank using xoom if you are doing that transaction from India. They are tracking IP addresses for each & every transaction & they will trace that you are doing this from an Indian network. However in special case e.g. you are indeed an NIR having valid US PayPal & want to transfer your fund to Indian bank while your visit to India you will have to call their US customer care centre about your situation & then only they will allow you to transfer funds from a US PayPal to Indian bank even though your IP is of India.
Please find below the link to download the form for e-trade a/c for Asia-Pacific Residents, https://us.etrade.com/e/t/home/openanaccount the address is given below those form links still I am pasting it for you here, Asia-Pacific Residents E*TRADE Customer Services US Trading E*TRADE Securities (HK) Ltd Suite 2401-12 Two Pacific Place 88 Queensway Admiralty, Hong Kong Contact us at or call 00852 3191 3000 You also need to send them W-8 for being a non-US tax payer, Click Here to download it. I really don't know why you are not getting the reply from them, may be you are sending them emails to US emails. I had just emailed them to know the status of my application yesterday late night & today morning I got a call from them that within 2-3 days I would get my a/c no. I must appreciate their customer support at least in my case. The alternate email address for e-trade Hong-Kong branch inquiry is .
does it cost anything to open e trade account?i don't have passport.can i give my voter id number(i.e., government issued id)?
To open an eTrade account you need $1000 if I am not mistaken. Then you need to submit the required documentation to them also (goverment id, W8BEN etc). But I can't see how you can withdraw your money from Paypal eventhough you got yourself an ETrade account.
Greetings, Been reading this thread for some time now. My advice would be: 1. If you have to withdraw any amount <= $1500 at a time, you don't need to have a USA back acount or US Paypal account. Just stick with Xoom.com. I know they say on their website that you cannot do the transaction from India to India, but beleive me I have been using xoom for years now without any problem. Also, in case a transaction gets CANCELLED, just try after 2-3 days, it is successful. 2. In case you need a USA Paypal address, I would suggest to get a USA bank account from guy's selling it here in DP. It's much SAFER. E-Trade takes a whole lot time & you have to send in your Verification documents to them (You never know who has those documents) . Besides there have been reports of E-Trade suspending or freezing acconts without any notice. 3. Last option is get a US Address from websites like usapostman.com . But only recommended for business users who require a mailing address. All my suggestions are only for Non-US Verified Paypal account holders. So if you are not verified yet, get verfied now with any Indian Bank CC. Also, people who just want to raise their Paypal limit to $10,000 , there are some interesting threads explaining everything in the TalkGold forum. I hope this HELP's. Just my 2 cents . Best Regards, handsomeabhi
Sorry, you are wrong at this point. Though they have mentioned that you need at least $1000 on their site it's not true. e-trade a/c is free for the first year even without a deposit of a single cent. From second year onwards you will be charged $40 quarterly if you don't trade with your e-trade a/c. There is absolutely no need to deposit $1000 anyway.
At least till today I haven't found any other US bank which helps to open an a/c to Non-US other than e-trade. I don't know about whom you are talking but whoever is selling the guide, must be of e-trade only. I don't think with any bank you can get your a/c opened within a month from a foreign country & at a cost of less than INR 200/- (=$5). Benefits of US bank a/c are well known now-a-days specially for online business it is must. And do you want to say that e-trade employee can play with your government id !?! Man it's a well known bank. It's better to hand over your documents to any bank executives then some guy selling those freely available pdf files to earn cheap money. Yes, it's free. Any incoming wire transfer is always free for any bank in the world. Here if you transfer your fund from US paypal to e-trade it's incoming fund for your e-trade so it's free to receive & PayPal doesn't charge for US bank transfer.
Hi mafostedu, I guess you head over to Buy/Sell section and find it out yourself. The guys are not offerring any GUIDES. They are actually offering US Bank Account. And please understand that there are numerous banks that offer this facility, not just E-TRADE. The only disadvantage is those services charge way too much. For all E-Trade wannabe's , please understand that it has MAJOR disadvantages that come along with it's ADVANTAGES. The worst being YOUR ACCOUNT being FREEZED or SUSPENDED. My own friend has lost $6,000 as a result of his account being suspended by E-Trade. I would once again like to repeat this, that if you intent to withdraw <=$1500 just stick with Xoom. It's Safer & Faster. Best Regards, handsomeabhi
Oh, thanks for explaining. If what you are saying is true we all e-trade wannabes (good word) must consider that point. BTW can you please tell us the reason for such suspension or freezing?? I guess they must have broken the TOS of e-trade. Anyway suppose for any reason if your a/c gets blocked, they will have to release at least your available fund by any means. They simply can't run away with your fund. Is there any way to get your available fund from any of such suspended a/c. I think no legitimate bank can grab your money without any strong reason. $6000 is quiet biggie, you just can't loose it anyway. Please give us the detail. Thanks.
There should be a very strict reason to freeze and suspend this kind of money in etrade especially. I also wonder what the reason was
Hi mafostedu & gtithesexy, Acutally even I am not sure why it got suspended. All I can remember is that my friend told me he recieved a email from E-Trade notifiying him of inactivity in his account and how he should deposit XYZ amount to prevent freezing. So my friend went ahead and transferrred $8000 from his Paypal account. He withdrawn the $2000 here in India. But after exactly 3 day's he was shocked to see his E-Trade account suspended. And we all know the $6000 were still very much there. He just received an email saying it was in violation as some blah blah blah things about the main purpose of E-Trade. But what I understood from this incident is that I won't risk any amount to E-Trade. And that's the reason I hopped in this thread to tell you guy's . Best Regards, handsomeabhi
if thats the point, why dont you buy vcc's? vcc will cost you around $30 instead of $3000-$10000 with hsbc!
Well, can you tell me one thing, that PayPal account from which your friend had transferred the fund of $8000 was Indian PayPal or US PayPal ? Oh one more thing did he try to get back his pending fund from e-trade after suspension or they just refused to give back his fund ?
I don't see what's the big fuss, why would you want to open a bank account in the US. What does it really benefit you? Don't you have a bank in your country?
We do have bank accounts in our countries. I don't know the reason for others but I want US bank account to continue my business on amazon.com & half.com. Both of these only accept US bank accounts to collect your selling payment. I was previously using my relative's bank account in US for this purpose but now he is migrating to Canada & probably about to close his US bank a/c permanently. That's why I need the US bank account.
i have searched google for etrade user opinion and i have found 7 positive feedback after every 10 reviews i have seen on different sites. i also send them a mail and they said that right now i need to open a account ad that 1000 can be deposited later.
Nice to hear from you. I was a bit worried after reading few bad experiences in this thread but now I am feeling comfortable. Even I had searched hard on internet before applying for etrade & got very few negative reports & most of them are related to trading fees & something like that. Hardly seen any post of suspension or freezing of a/c & more importantly grabbing your fund.!! Few of my friends are doing good with e-trade for the last 5-7 months or so & never got any problem so far. Please post the reply from e-trade in this thread when you get it.
hsbc have replied which account i want to open so i said i want to open checking account .and they replied i cannot transfer funds from paypal to hsbc.i don't know why? but do hsbc debit card verifies paypal account?