Withdraw PayPal money directly to your Indian Bank account!

  13 Dec 2007 by TipsoSaurus

paypal-india This has to be the best gift to all Indian PayPal users from PayPal. Now, PayPal allows you to the electronic transfer of your funds in PayPal to your bank account in India.

It used to take around 22-23 days earlier if we used the check delivery service but now with this service we’ll be able to receive the money with in 5-7 business days (far less than what used to before).

In order to withdraw money to your bank account, you need to add your bank account information and at this time only limited banks are supported but thankfully for me, my bank account is supported!

The list of banks which are supported at this time by PayPal :

State Bank of India, Bank of India, Canara Bank, Union Bank of India, HDFC Bank, ICICI Bank, ING VYSYA Bank, UTI Bank, Standard Chartered Bank, HSBC & Citibank.

How to setup the bank account in PayPal :

1. Log-in to your PayPal account.
2. Go to Profile and select Add Bank Account.
3. It will ask you the IFSC code of your branch (remember this is not the SWIFT code or MICR code). You can get the IFSC code of your branch from this PDF document by RBI (Reserve Bank of India).

Then simply go ahead and transfer the money and enjoy the season’s holiday!

5 Responses so far

  1. Vyoma December 13, 2007 7:53 am

    Good news!

    When I get back to India, I can use it (my Paypal account) the same way.

    Incidentally, does Google Adsense have a EFT facility for Indian banks?

  2. Binny V A December 13, 2007 8:54 pm

    Thanks for finding that PDF file - very useful.

  3. cutiegadget December 17, 2007 9:31 pm

    Waw, that’s good Indian people can withdraw their Paypal money using debit card. In my country, this option only available for selected visa Credit card.

    Btw, I really like your blog design, the dino Looks really cute! Keep it up the good work :)

  4. TipsoSaurus December 19, 2007 2:56 am

    @ CutieGadget : Thanks for the comment and liking the blog design :) I’m sure PayPal will give the season’s gift to you guys too.

  5. Dhananjay May 9, 2008 4:57 am

    that was really helpful. I am gonna try it and will let u know if something comes up.

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