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PayPal started Bank Transfers in INDIA

Discussion in 'PayPal' started by Abhik, Oct 30, 2007.

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  1. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #181
    Why don't you read my post and his post properly man :confused:

    You done transfer from your paypal to your bank account and he said that 'PP will allow the Funds transferred to Paypal A/c from the Indian Banks'. Have you tried to send money from your bank account to your paypal account ? I think you got my point.
    SEMrush
     
    deluxdon, Nov 2, 2007 IP
    SEMrush
  2. bobchrist

    bobchrist Active Member

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    #182
    Indeed that's great news for Indian, I hope Paypal will add more Asian countries enabling this feature. :)
     
    bobchrist, Nov 2, 2007 IP
  3. Rohit patel

    Rohit patel Prominent Member

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    #183
    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.
     
    Rohit patel, Nov 2, 2007 IP
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  4. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #184
    Actually its not low conversion rates because at the same time other methods like xoom offers same exchange rate as paypal (due to overall economy).
     
    deluxdon, Nov 2, 2007 IP
  5. Rohit patel

    Rohit patel Prominent Member

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    #185
    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.:)
     
    Rohit patel, Nov 2, 2007 IP
  6. Hearthrobz

    Hearthrobz Well-Known Member

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    #186
    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
     
    Hearthrobz, Nov 2, 2007 IP
  7. Kaushal

    Kaushal Peon

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    #187
    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.
     
    Kaushal, Nov 2, 2007 IP
  8. MeetHere

    MeetHere Prominent Member

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    #188
    WOW congrats Kaushal..
    Thats too fast.. Never dreamt that :D
    What exchange rate you got ?
     
    MeetHere, Nov 2, 2007 IP
  9. Kaushal

    Kaushal Peon

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    #189
    on 30th Oct ,
    Exchange Rate:
    1 U.S. Dollar = 38.0737 Indian Rupees
     
    Kaushal, Nov 2, 2007 IP
  10. Matbell

    Matbell Guest

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    #190
    thats 1 INR less man

    but still we cant complain :)
     
    Matbell, Nov 2, 2007 IP
  11. Kaushal

    Kaushal Peon

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    #191
    @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.
     
    Kaushal, Nov 2, 2007 IP
  12. madil80

    madil80 Peon

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    #192
    thanks for the ifsc list.
    there is no punjab national bank in pp withdrawl form.
     
    madil80, Nov 2, 2007 IP
  13. Rohit patel

    Rohit patel Prominent Member

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    #193
    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.
     
    Rohit patel, Nov 2, 2007 IP
  14. powerboss

    powerboss Active Member

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    #194
    great news, now there is no tension for cheques to arrive.
     
    powerboss, Nov 2, 2007 IP
  15. inworx

    inworx Peon

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    #195
    oh, well. This is just very fast...mnay be initially. But I did a transaction initiated on 30th, and its being shown as completed :D :confused:

    It says 5-7 business days but this is much less than that, possible because there aren't much requests atm :D
     
    inworx, Nov 2, 2007 IP
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  16. uttoransen

    uttoransen Prominent Member

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    #196
    i withdrew yesterday night, am looking foreword to it!

    also am waiting for a paypal check for 23 days now:eek: hopefully the wait-for-checks problem will end now!
     
    uttoransen, Nov 2, 2007 IP
  17. agnivo007

    agnivo007 Peon

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    #197
    Hmm...with many net enabled banks in India, I think PP should increase their supported list of banks soon.
     
    agnivo007, Nov 2, 2007 IP
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  18. Fisker

    Fisker Well-Known Member

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    #198
    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 :rolleyes: but then I didnt knew about DP:eek:
     
    Fisker, Nov 2, 2007 IP
  19. Abhik

    Abhik ..:: The ONE ::..

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    #199
    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. :)
     
    Abhik, Nov 2, 2007 IP
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  20. ghm

    ghm Peon

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    #200
    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
     
    ghm, Nov 2, 2007 IP
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