Hey guys.... i live in India and want to transfer paypal money to SBI (State Bank of India) without credit card. Paypal says it will not charge anything for amt above Rs.7000 INR. But, i just want to know 4 things: 1. Whether I have to make my internet banking accnt active for paypal to transfer money to SBI. 2. I am newbie and just doing my 1st paypal transaction. I am gonna transfer around $200 to my SBI account. So, please tell me what will be the total charge that paypal will incure and also the cost SBI will charge. So, $200 in rupees will be around say Rs.9600 (considering $1= Rs.48, i know $ vary). Then what will be the actual amount I will get after all charges have been cut? 3. Will paypal pay me in Indian Rupees???? 4. What is Return Fee mentioned in Help-> Withdrawal Fees. Please help me guys... Thanks in advance.
1. Whether I have to make my internet banking accnt active for paypal to transfer money to SBI. No. That's not necessary. 2. I am newbie and just doing my 1st paypal transaction. I am gonna transfer around $200 to my SBI account. So, please tell me what will be the total charge that paypal will incure and also the cost SBI will charge. So, $200 in rupees will be around say Rs.9600 (considering $1= Rs.48, i know $ vary). Then what will be the actual amount I will get after all charges have been cut? SBI won't charge you anything. For example exchange rate is 48, then you will get (200 x 48) - 50 (paypal charge) 3. Will paypal pay me in Indian Rupees???? Yes. Hope that helps correct me, if m wrong.
Hi Alex1299 i am also Indian i don't know about SBI bank. if you have ICICI Bank means i will help you. doing transactions from past 3 years ok let me know if u have ICICI Bank
Hereyou go all 4 answers. 1. No. Its not needed. 2. At the time of withdrawal you can see final amount which you'll get in your bank account. There is no any additional charge from SBI. 3. Yes. Paypal pay you in INR. 4. 250 Rs. (Return Fee applicable if you given wrong details of bank name or IFSC code or account number or mismatch in account name). DON.
While doing withdrawal, you can see currency converter link. Click on the link to see the actual amount in Indian Rupees that you would get in your bank account. Paypal will not charge you anything, if the withdrawal is above INR 7000. Return fee of Rs. 250 is charged by Paypal and is deducted if your withdrawal request do not go through successfully, due to name mis-match or wrong IFSC bank code. Regards, RightMan
No From my experience I can say that PayPal exchange rate is about Rs1.5/- less than the current exchange rate. So if current exchange rate is 48 you can expect (46.5*200) in your account Yes. In case you don't provide the bank details properly and in case the money they sent gets returned, they will charge some money for it. I have written an article on 17 PayPal tips sometime back, you may find it useful
Note that PayPal will not Pay you 48INR as such mate It's exchange rate mate... Today the exchange rate for 48INR is 46INR mate... So please not that always 2INR minus from the current exchange value...
Why paypal got their own exchange rate? I mean this should not any problem if the amount is low but if the amount is big such as 3000$ then it certainly make the difference. In this case I must say paypal is greedy.