Hey guys, I want to transfer money from my paypal account to a Nostro Account of an Indian Bank in a US bank. My bank in India has a Nostro Account in Bank of New York. If I setup my paypal to transfer the money to the Nostro account of my Indian Bank, how does the Indian Bank identify the target account (my personal account) it must send the money to ? Unless the Indian Bank finds a target account for the payment it receives in its Nostro account, it will not transfer money to my personal account. It will just transfer it to a suspense account. I could have transfered the money from my paypal account to my personal bank account in the Indian bank directly, but in this case the money would be received in Indian Rupees. I must receive the money in USD only. For this reason I need to take the Nostro Account route. If anybody could get me past this hurdle, I would be really grateful. Thanks & Regards, Vaibhav
Vaibhav, I had the same problem. Routing money via e-gold or any other intermediate people/co. will be what is called money laundering. Its an offense. Do not go for it. I had no other way than to use 2checkout.com who not only receives Paypal but does wire money directly to your Indian Bank via your intermediate US bank. Its clean and simple. They take a little bit more as the transaction fees, but its well worth it. It is not that I am sending my money to 2CO and wiring it, I am accepting my web payments directly via 2CO, they receive paypal and all major credits card of many countries (unsupported by Paypal). You might give it a try. If you need further help, PM me.