Paypal allows Indian accounts to withdraw money to prepaid cards. I have been doing some research on the possibility of withdrawing money to prepaid VISA Travel cards. These are in USD and are issued by many banks in India but afaik only SBI and ICICI allow internet shopping.
If you withdraw money to bank or debit or credit card paypal charges 2.5% conversion fee. Since travel cards are in USD there is no charge. Also using your credit card co charges 3.5% for any purchase in currency other then INR. There is noo such charge with travel card. So this card can save lot of money if you regularly shop online on international website or you can use the money abroad.
Paypal charges $5 withdraw fee. Max withdrawal limit is $500. Which means 1% charge. After withdrawing money to the card you can go to any branch of issuing bank which has a forex desk and get refund in INR. SBI has better rates then ICICI. But ICICI offer temporary card blocking service which IMO is worth it. This is NOT a credit card. Incase of fraudulent transaction you lose your money and bank cannot help you.
looking forward to comments or questions.
