Which banks are best for adsense and paypal checks in India? I opened with ICICI bank and i am new to them. How long do they take to cash paypal and adsense checks? Any idea on citibank because i am planning to open one with them. Any inputs from indians here would be really helpful.
All Paypal cheques are payable at citibank branch in India. It doesn't mean you need a citibank account. It means the cheques will be treated as local cheques drawn from citibank. You can deposit those cheques in any bank account. I would suggest ICICI, HDFC and Citibank because of their online transactions facility.
Citibank is definetely faster for paypal cheques. But all cheques recvd. in indian rupees will be cleared in 3 days maximun with any bank. (Both paypal and google send cheques in indian rupees)
Citibank faster then ICICI in this case as paypal and adsense both send checks in INR from citibank so if you have also bank account in citi bank then funds getting credited in your bank account same day while in any other bank next day IMO.
Who told you that If you want to open an account with hdfc,icici,uti or citi bank, you have to keep minimum balance of 5k INR there IMO. Let me correct if i am wrong
I am using federal bank and hdfc bank.It takes nearly three days to clear the check. Its better to start account in CITI Bank because u can directly cash the check there.
Yeah , 5K is the minimum balance to be kept over 3 months. So, you can keep 0 for one month, 5K for another & 10K for the 3rd This is for ICICI , I am not sure about others.
Remember, all paypal cheques are cleared by Indian Banks. The main issue over here is that you have to first receive the paypal cheque at your mailing addres which itself takes time. So its a big hassel. I would suggest you to exchange the paypal money with any reputed paypal member and then he can transfer INR into your ICICI Bank or HDFCBank. I mean , you try have an online bank account so that you can receve your money from the DP member instantly after you have transferred your paypal funds to his paypal account.
Any bank is okay, they're all issued in INR. Citibank may have a slight edge as it's the issuing bank, but neither paypal nor adsense checks are cashable, they have to be deposited.
Any bank will do though citibank might be faster but waiting for 1-2days should not be a big deal for clearing cheque when you can wait for 2-3weeks for cheque from paypal.