Withdraw money from PayPal to Indian Bank Accounts now

By Ashish Mohta

Now you can add your Indian bank account to your PayPal account, so you can withdraw your money directly to your bank. It saves you time and gives you faster access to your PayPal funds! On top of it there is no charge to withdrawal amounts
over INR 7000*
However if you withdraw an amount less than 7000 they will charge INR 50.

This is a great feature now in PayPal which will pull down many services like xoom and others who used to charge a lot of transaction. Login to your PayPal account and click on Withdraw money. Now you will see option of bot withdrawing to an Indian account and us bank account as well. So if you are in America and want to transfer money to any Indian bank, Its a simple process now. Finally the discussion of transferring money to Indian Debbit cards have to come to an end now

The Listed Indian Banks which are included in PayPal withdrawal list for Indians

  • State Bank of India.
  • Bank of India
  • Canara Bank
  • Union Bank Of India
  • HDFC Bank
  • ICICI Bank
  • ING VYSYA Bank
  • Axis Bank
  • Standard Chartered Bank
  • HSBC
  • Citibank

However some banks like IDBI is not there. But Thank a lot to PayPal for including this for India. Life will be lot easier.

However you will need IFSC Code ( Click to get the codes for your bank) which is 11 digit code for the bank. Call the bank people and they will let you know.

Indian Financial System Code (IFSC)

The Indian Financial System Code (IFSC) is an alpha-numeric code designed to uniquely identify bank branches in India. This is an 11 -digit code with the first four characters representing the bank code, the next character is a control character, and the last 6 characters identify the branch.
The Reserve Bank of India publishes the IFSC and MICR codes, but only IFSC codes should be used. Please contact your bank in India for this code.

 

About The Author of this article:
Ashish is one of the co-author of this blog and writes on various interesting softwares, PC tips and more. You can read more of his articles here.

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24 Comments and Link-Backs to “Withdraw money from PayPal to Indian Bank Accounts now

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22 Comments from Friends and Readers

  • Anand, November 1, 2007:

    When I got the mail from Paypal, I was like, ‘Thank God, finally!’..Ever since you had discussed this Paypal story sometime back, I was really looking forward to it..

  • Madhur Kapoor, November 1, 2007:

    This is great news. Earlier i used Xoom which charged around 400 Rs for the same.

  • RJ, November 2, 2007:

    Is this option of withdrawing funds to an indian account available only to ‘indian’ members of paypal?

    When i click the withdraw link (i am in the US), I do not get the option of adding an account other than a US account!

  • Ashish Mohta, November 2, 2007:

    @Rj. You can try to do like this.

    Get an Indian Credit card and get it verified. I am guessing that since we have indian verified cards the options got enabled. If you do the same you should also see. Try it.

    If that works then you can transfer funds directly to indian accounts even if ur in US.

  • RJ, November 2, 2007:

    @Ashish,

    Thanks for the tip. Call me ignorant or wrapped in the ‘comforts’ of the western hemisphere (that is the US, right?!) , but…..is it possible to get an Indian Credit Card from here in the US??

    If I can set it up like you say, life will be pretty good!

  • Ashish Mohta, November 2, 2007:

    @RJ:

    Really not sure of that. But since you want to transfer money to india, you must be having someone here. I am not sure whats your stats on that. If your family is here or even if you have a bank account in India , get a credit card from the bank listed in the paypal list.

    You can email me directly if you want

    Ashish

  • RJ, November 2, 2007:

    @ Ashish,

    Thanks. Will do.

    Rakesh

  • Ashish Mohta, November 2, 2007:

    1. If you have an account in Indian ICICI bank they should be able to give it to you. Only thing is about delivery which you can get it some where local in india and get it to you in US.

    2. ICICI should be in us , Correct me if I am wrong. Try to get in touch with them and see what they can do.

    3. You can create a virtual credit card also. Some of the banks ( I am not sure which onces) allows you to create virtual credit card. You can then use it to become and Indian Verifier and see if the options are available.

    I would recommend thrid tip to be folllowed first.

    Thanks for the compliment on the mail

    Ashish

  • RJ, November 2, 2007:

    @Ashish,

    Thank you again for these helpful tips.

    Will let you know how things progress.

  • MRINAL KANT BALODI, November 19, 2007:

    respectd pay pal and indian bank of icici i need IFSC CODE OF ICICI BANK KINDLY GIVE IT TO IN WEB SITE OR CONTACT ME ON MY EMAIL OR MY MOBILE NUMBER 9811190932 OR 9999364313

  • Ashish Mohta, November 19, 2007:

    @Mrinal: Here is the list of all indian banks having IFSC code Click here to view list of Banks and Bank Branches enabled for RTGS transactions and their IFSC codes or try this direct link for the excel file

    This will download an excel file where you can search for the bank name. However I will still suggest you to call the bank and confirm. This link is taken from ICICI bank site.

  • Ashish, April 6, 2008:

    @Arshad: You want to transfer from paypal to your bank or from your bank to paypal?

  • Arshad, April 6, 2008:

    if u guys don’t mind please send me the links to my mail that is arsh4ucool@gmail.com

  • Arshad, April 6, 2008:

    from my Axis bank to paypal & i have only debitcard ,….
    one more thing i want to tell u is i am student & i think i am not elegible to apply credit card correct me if i am wrong please…

  • Ashish, April 6, 2008:

    @Arshad: I know how to transfer from Paypal to Indian Bank but I have no idea on how to transfer from bank accounts to Paypal. I think its best if you can call them and ask

  • Rahul Gupta, April 10, 2008:

    Somebody please let me know that can i deposite money from my icici bank account.
    Actually i don’t have credit card and i want to purchase something.

    PLease email me.
    Thanks
    Rahul Gupta
    rahulgupta@viomcreations-india.com

  • Navratan, April 22, 2008:

    Hello
    I want to know wat is the procedure to register with paypal.
    Do i have to enclose my credit card details to paypal . I am afraid of it . Maybe my information will go to in wrong hands or is it posible that paypal deduct any amount from my credit card .
    My moto is get money from outside of INDIA and paypal is very popular in US & Europe .
    Please let me know that their is any other way to get money direct to my SBI a/c from outside of INDIA .
    If available any way please let me know about it and its charges and money transction time.
    Which one will better for me .
    Hope to hear soon

  • Ashish, April 22, 2008:

    @Navaratan: Paypal is very safe and best way to get money from outside India . It will just verify your card and charges 2$ which is returned back to you when you confirm. Else you can try using Western Union Transfer which can transfer money to bank accounts too.

    In case you want more information, I would suggest you to open a topic in our forums.

  • Sadi Chowdhury, July 4, 2008:

    Hello every one..

    I’ve a big problem with my Paypal.. can any one help…?

    I leave in Bangladesh. since some days I manage a virtual credit card. and create a Paypal account with my Home Address, but use the Country Name: India. and verify my account with the vcc.

    All are worked fine… to day I received some money from Paypal by Bonus like $1.95 and received about $25.* from some where.

    after that I need to renew my some domains from Dynadot.com.. So when I click the pay button form Paypal… SSHHOCKED… :(

    my account has been limited.. and I can’t use it…

    then I login to my paypal account. and click the link [ Your account access is limited. Learn how to remove this limitation. ]

    Paypal need to prof of address…

    and Paypal want a photo copy of my utility bill… that prof, I’m a Indian people..

    So tell me where I can get that…? I’ve no friend from India. since I’m chatting some time.. not all days.

    So this is my problem..

    can any one help me about this issue. then I’ll gift him my all account balance. that about $27.48 USD

    all he need to provide me a utility bill copy and 2 passport size image.
    then I’ll change all the information that I used for creating this account.

    after the verification will complete I’ll send you the whole money..

    Please help me…

    Best Regards.
    Sadi Chowdhury

  • Ashish Mohta, July 4, 2008:

    Sadi I dont think this will work. Nobody would rsik sending you utility bill. The only thing you can do is re register yourself as in your country.

    Ashish

  • Sadi Chowdhury, July 4, 2008:

    Hello Ashish.

    Thanks for reply my post.

    I know that, but I can’t re open the account due to I’ve said I’m from Bangladesh, and Paypal can’t accept this country, this is cause I’m going to open this account with face address.

    if some one didn’t believe me.. then I’ll post him my paypal info. then he will do by him self. then I’ll gift him the account balance.

    Please …

    Best Regards.
    Sadi Chowdhury

  • Sadi Chowdhury, July 4, 2008:

    Hello dear,

    can any one help me to get a Paypal Account… ?

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