1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

PayPal started Bank Transfers in INDIA

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

Thread Status:
Not open for further replies.
  1. Abhik

    Abhik ..:: The ONE ::..

    Messages:
    11,338
    Likes Received:
    606
    Best Answers:
    0
    Trophy Points:
    410
    Digital Goods:
    2
    #221
    Oh yes, they do..
    I am using SBI to withdraw funds from PayPal and it went really smooth.
    SEMrush
     
    Abhik, Nov 3, 2007 IP
    SEMrush
  2. inworx

    inworx Peon

    Messages:
    4,860
    Likes Received:
    201
    Best Answers:
    0
    Trophy Points:
    0
    #222
    There would be soon introduction to keep balance in INR in paypal accounts and that'd be the time we can expect a higher payout rate. Currently, Paypal makes 1.1 INR of every dollar we withdraw.
     
    inworx, Nov 3, 2007 IP
  3. Rohit patel

    Rohit patel Prominent Member

    Messages:
    15,771
    Likes Received:
    735
    Best Answers:
    0
    Trophy Points:
    310
    #223
    Yes I am also hoping for that because they are taking extra INR from us.
     
    Rohit patel, Nov 3, 2007 IP
  4. Abhik

    Abhik ..:: The ONE ::..

    Messages:
    11,338
    Likes Received:
    606
    Best Answers:
    0
    Trophy Points:
    410
    Digital Goods:
    2
    #224
    You mean the currency conversion charge??
    Withdrawal from PayPal is free for INR 7000 and above..
     
    Abhik, Nov 3, 2007 IP
  5. inworx

    inworx Peon

    Messages:
    4,860
    Likes Received:
    201
    Best Answers:
    0
    Trophy Points:
    0
    #225
    Not the PayPal fee for Windrawing

    The currency conversion fee i.e.e 2.5% charge when you withdraw from US$ to INR, the effective rate of exchange is

    = Market rate - 2.5% of market rate

    and this is the amount you receive per dollar.
     
    inworx, Nov 3, 2007 IP
    Rohit patel likes this.
  6. Rohit patel

    Rohit patel Prominent Member

    Messages:
    15,771
    Likes Received:
    735
    Best Answers:
    0
    Trophy Points:
    310
    #226
    No Yaar.

    Crrunt chaeges: USD 1 = 39.XX INR
    While PayPal : USD 1= 38.XX INR.
     
    Rohit patel, Nov 3, 2007 IP
    inworx likes this.
  7. deluxdon

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

    Messages:
    25,468
    Likes Received:
    1,941
    Best Answers:
    32
    Trophy Points:
    480
    #227
    Nope. I think they are talking about

    Current Exchange Rate is
    1 US Dollar = 39.46000 Indian Rupee (Actual) and paypal give us 1 US Dollar = 38.10 Indian Rupee.
     
    deluxdon, Nov 3, 2007 IP
    inworx likes this.
  8. inworx

    inworx Peon

    Messages:
    4,860
    Likes Received:
    201
    Best Answers:
    0
    Trophy Points:
    0
    #228
    3 replies in 1 minute....
     
    inworx, Nov 3, 2007 IP
  9. Abhik

    Abhik ..:: The ONE ::..

    Messages:
    11,338
    Likes Received:
    606
    Best Answers:
    0
    Trophy Points:
    410
    Digital Goods:
    2
    #229
    ok ok..
    don't start bombing on me.. :D
    Yeah, they will charge for currency conversion like all the forex trader do unless they allow us to maintain balance in INR.
     
    Abhik, Nov 3, 2007 IP
  10. inworx

    inworx Peon

    Messages:
    4,860
    Likes Received:
    201
    Best Answers:
    0
    Trophy Points:
    0
    #230
    Currency conversion still applies, when you shop online using INR CC.
     
    inworx, Nov 3, 2007 IP
  11. srijaga_cbe

    srijaga_cbe Peon

    Messages:
    73
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #231
    Did you checked it carefully my dear friend Felu?

    Really this is a boon to Indian Webmasters. Growing no. of posts shows this.

    Still there is questions for IFSC -code. Previously i gave link for an Excel document. In that document, first worksheet having total no. of branches in IFSC network(this is also called RTGS enabled bank network).
    In the Second worksheet there are IFSC numbers for around 34000 Indian Banks.
    You can refer the bank code with the listing in the first work sheet.

    Please check the link given below. (5MB)
    http://rbidocs.rbi.org.in/rdocs/RTGS...fRTGSBanks.xls

    Please let me know is it useful.:)
    You can also refer IFSC no. printed on your cheque leaf. But this is printed in the newly issued cheques or cheques of new generation banks like ICICI, HDFC only. So other banks refer my link.
     
    srijaga_cbe, Nov 3, 2007 IP
  12. aspire

    aspire Well-Known Member

    Messages:
    4,003
    Likes Received:
    76
    Best Answers:
    0
    Trophy Points:
    175
    #232
    Is the IFSC code for the bank or is it for bank+branch combination.
     
    aspire, Nov 3, 2007 IP
  13. dotcompals

    dotcompals Prominent Member

    Messages:
    2,905
    Likes Received:
    254
    Best Answers:
    0
    Trophy Points:
    320
    #233
    I just checkout xoom's rate.


    Current Rate: USD 1 = 39.XX INR
    Xoom- a week ago : USD 1= 37.XX INR.
    Xoom- Today: USD 1= 38.XX INR.
     
    dotcompals, Nov 3, 2007 IP
  14. deluxdon

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

    Messages:
    25,468
    Likes Received:
    1,941
    Best Answers:
    32
    Trophy Points:
    480
    #234
    If i am not wrong dotcompals i never saw Xoom with this exchange price

    USD 1= 37.XX INR. :eek:
     
    deluxdon, Nov 3, 2007 IP
  15. srijaga_cbe

    srijaga_cbe Peon

    Messages:
    73
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #235
    There is an IFSC no for every bank branch in the RTGS Network. RTGS- Real Time Gross Settlement- is run by RBI to transfer money between the banks in India. For RTGS transfer we need IFSC number of the receiving branch. This transfer is done from account to account and not person to account.
    Its a bank + branch no. combination
     
    srijaga_cbe, Nov 3, 2007 IP
  16. aspire

    aspire Well-Known Member

    Messages:
    4,003
    Likes Received:
    76
    Best Answers:
    0
    Trophy Points:
    175
    #236
    Got it on RTGS. I was wondering if there is different code for every branch or is the code same for all branches of any particular bank. (someone told me that RTGS codes are different for each branch, hence this confusion) :)
     
    aspire, Nov 3, 2007 IP
  17. srijaga_cbe

    srijaga_cbe Peon

    Messages:
    73
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #237
    Individual IFSC no. for every branch. If your bank is UTI and bank branch number is 90(Coimbator TN). IFCS no will be some combination of those and looks like UTIB0000090R. (This is my UTI branch's code.)
    Sample:
    UTIB0000090R VIGNESWAR CRESTA, NO.1095, AVINASHI ROADPAPPANAICKENPALAYYAM, COIMBATORE - 641 037
    UTIB0000091 JAYASHREE PLAZA, 34, DOLAMONDAI, BADAMBADI,
    CUTTACK 753 009
     
    srijaga_cbe, Nov 3, 2007 IP
  18. iamonline

    iamonline Peon

    Messages:
    155
    Likes Received:
    3
    Best Answers:
    0
    Trophy Points:
    0
    #238
    Should the name on bank account match with that on paypal ??

    My name is Sukamal Mukhopadhyay whereas I want to withdraw to my brother's Axis bank account whose name is Pratyay Mukhopadhyay
     
    iamonline, Nov 3, 2007 IP
  19. Abhik

    Abhik ..:: The ONE ::..

    Messages:
    11,338
    Likes Received:
    606
    Best Answers:
    0
    Trophy Points:
    410
    Digital Goods:
    2
    #239
    Yes, the name has to be same. There is no option to change the name.
     
    Abhik, Nov 3, 2007 IP
  20. ghm

    ghm Peon

    Messages:
    27
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #240
    check the paypal withdraw funds page, where you add the bank account.
    non-business account has an option to specify the first and last name, so you can use your brother name and check the name on final confimation page for withdrawal.
     
    ghm, Nov 3, 2007 IP
Thread Status:
Not open for further replies.