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PayPal to Bank account query

Discussion in 'PayPal' started by parker9, Mar 1, 2011.

  1. #1
    I have a bank account in Dena bank. So can i transfer money from my PayPal account to Dena bank account. Is Dena bank used by anyone here.
    Please help me out.
    SEMrush
    Thank you
     
    parker9, Mar 1, 2011 IP
    SEMrush
  2. indiancyber

    indiancyber Peon

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    #2
    ya u can transfer to any bank in india
     
    indiancyber, Mar 1, 2011 IP
  3. chandan123

    chandan123 Prominent Member

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    #3
    yes you can transfer to dena bank. just contact them to get the correct swift code and use that properly

    edit its IFSC code
     
    Last edited: Mar 1, 2011
    chandan123, Mar 1, 2011 IP
  4. newgenservices

    newgenservices Well-Known Member

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    #4
    PayPal uses NEFT IFSC and not SWIFT.

    @OP: You can contact your branch for your Branch's IFSC code or search for your bank at http://www.ifsccodes.info/DenaBank/1.html or some other source which provides a list of IFSC Codes for your bank.
     
    newgenservices, Mar 1, 2011 IP
    Padalda likes this.
  5. parker9

    parker9 Peon

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    #5
    i have got the IFSC code of Dena bank with me; just wanted to confirm that can i use a Dena bank account.

    I have just now linked my paypal account with my bank account.
    Now whats this.

    "PayPal sends two small deposits to your bank account." What does it mean.
     
    Last edited: Mar 1, 2011
    parker9, Mar 1, 2011 IP
  6. nihangshah

    nihangshah Prominent Member

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    #6
    Yes, you can use Dena Bank account. Double check the IFSC code of your Dena Bank branch. If the IFSC code is incorrect, funds will be returned back and INR 250 will be charged.
     
    nihangshah, Mar 1, 2011 IP
  7. deluxdon

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

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    #7
    Yes you can withdraw to your Dena Bank. Just enter all details (account name,account number and IFSC code) properly.

    Paypal sends 2 small deposits in your bank account and you need to enter those 2 amounts exactly in your pp account for bank verification.

    DON.
     
    deluxdon, Mar 1, 2011 IP
  8. digipro

    digipro Active Member

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    #8
    yes paypal will send two small deposits to your which you have attached (dena bank account) . you will go to your bank after 1 or 2 days and check your account statement. you will see two small amount in INR with same date , once you get these two small amounts , follow these steps:-
    Go to the PayPal website and log in to your account.
    > Click "Profile" at the top of the page.
    > Click the "Bank Accounts" link in the "Financial Information"
    column.
    > Select the bank account and click the "Confirm" button.
    > Enter the two amounts.
    > Click "Submit."

    Thanks
     
    digipro, Mar 1, 2011 IP
  9. parker9

    parker9 Peon

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    #9
    what are this small deposits. Do i have to pay something to paypal for this.
     
    parker9, Mar 1, 2011 IP
  10. deluxdon

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

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    #10
    Its very small amounts as its just for verification purpose. You come to know those 2 amounts easily.

    DON.
     
    deluxdon, Mar 1, 2011 IP
  11. digipro

    digipro Active Member

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    #11
    ya sure

    example:-

    1.12 INR
    1.06 INR

    etc..

    Thanks

     
    digipro, Mar 1, 2011 IP
  12. parker9

    parker9 Peon

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    #12
    do i have to make the payment of deposits to paypal and how can i make payment in INR from my Paypal account.
     
    parker9, Mar 1, 2011 IP
  13. deluxdon

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

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    #13
    Nope. You just need to enter those 2 amounts figure exactly in your paypal account.

    DON.
     
    deluxdon, Mar 1, 2011 IP
  14. parker9

    parker9 Peon

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    #14
    Ok; does this also means that after this process is completed i will have a verified PayPal account.
     
    parker9, Mar 1, 2011 IP
  15. newgenservices

    newgenservices Well-Known Member

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    #15
    Yes, once you enter the deposit amounts correctly, your account will be getting verified status instantly.
     
    newgenservices, Mar 1, 2011 IP
  16. parker9

    parker9 Peon

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    #16
    so aren't there any charges to get verified?
     
    parker9, Mar 1, 2011 IP
  17. newgenservices

    newgenservices Well-Known Member

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    #17
    PayPal will not charge you if you are using Bank Verification method. Even if they charge, would you mind paying them less than INR 3? They would take more in fee later once you start operating. So don't worry about charges for now :)

    If you choose CC, it would be $1.95 and you get this back as PayPal balance later.
     
    newgenservices, Mar 1, 2011 IP
  18. parker9

    parker9 Peon

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    #18
    ok; so can i withdraw the money into my bank account without the verification deposits; because paypal will need 6-7 workings days to forward the deposits to my bank account.
     
    parker9, Mar 1, 2011 IP
  19. newgenservices

    newgenservices Well-Known Member

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    #19
    Verification process takes 3 to 4 days and not more. They send the deposits using NEFT same day you add your bank account. Without verification, you can not withdraw more than $500 per month. (I'm not sure of the latest limits but this was how it was earlier).
     
    newgenservices, Mar 1, 2011 IP
  20. parker9

    parker9 Peon

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    #20
    ok; i dont want to transfer more than $500 so can i do the the transfer now without the verification.
     
    parker9, Mar 1, 2011 IP