PAYPAL INTRODUCES NEW FEATURE :WITHDRAW FUNDS DIRECTLY IN UR INDIA BANK ACC

[jaipur_fashions]

Hi Guys

Just logged in PayPal and saw that we can now withdraw funds to our Indian Bank account. It includes all major banks like Citibank, HDFC, HSBC, ICICI, SBI, BOI, Stan. Chart. etc.

The most exciting part of the feature is the COST :
Free
for 7,000.00 INR or more

50.00 INR
for 6,999.99 INR or less .

And the processing time is just 5-7 Business days.

It only asks for the IFSC Code and the bank account number and you're done ! 🙂

Isnt it a great news for all PayPal users ?? I am glad and thankful to PayPal.

Cheers
Meenu :-)

[skygiftworldwide]

Hi Amitava Da,

Yes it is correct. The IFSC of my SBI Branch is SBIN0000212. I have withdrawn the money from my PayPal account on 31st Oct and the status of PayPal says Completed but I have not yet received the payment to my SBI account. It may be because SBI procedure is too slow, it may take 7-10 days time.

Regards,

[indiatrend]

Hi,

For those sellers who have already recieved money via payapal directly in their account....I was wondering If your bank charges you any fee for the transaction...was just curious even though the amount is converted to rupees...but wanted to check..


Thanks
Parul
Indiatrend

[techniwas]

What is IFS Code (IFSC)? How it is different from MICR code?

Ans Indian Financial System Code (IFSC) is an alpha numeric code designed to uniquely identify the bank-branches in India. This is 11 digit code with first 4 characters representing the banks code, the next character reserved as control character (Presently 0 appears in the fifth position) and remaining 6 characters to identify the branch. The MICR code has 9 digits to identify the bank-branch.

[amitava123gems]

Hi skygiftworldwide,
I got a/c with Kalghat branch of SBI.They have core banking.But eBay does not have that branch in their list.That is my 33 year old a/c.I opened that with my wife just after our marriage.
I received cash drop/chek drop online.No extra cost like ICICI.
But I had to register with my ICICI against my wishes.
I am very much disciplined.So I accept whatever is available.
Thanx for your reply,
Truly,
Amitava

[jewels.exports]

GOT MY FUNDS TODAY!!..Its much easier then tht draft system!!..well @ below IFSC CODE CAN BE FOUND AT CHEQUEBOOK>>>ITS WRITTEN BELOW EVERY CHEQUE!!

REgards,
Seema

[skygiftworldwide]

Hi all,

I had withdrawn funds to my SBI account on 31st Oct but on 8th Nov the transaction has been reversed deducting Rs. 250. Has anybody received the funds in SBI account?

Has anybody withdrawn funds to HDFC Bank?

Regards,

[jewels.exports]

Hello Skygiftworldwide....i have received funds in my HDFC bank account more then thrice with no difficulty!!....I hope it will help any how!!


Regards,
Seema
Jewels.exports

[jewels.exports]

It there any reason metioned for reversal? Seema Verma

jewels.exports

[jaipur_fashions]

Hi skygiftworldwide , I too have withdrawn funds in my HDFC acc without any difficulty. Call your branch and they might be able to help you out.

Meenu

[skygiftworldwide]

Hi Meenu and Seema,

Thanks for your info. I will try to withdraw to my HDFC Bank account.

I have written to PayPal to give the reason for reversal to SBI account. Hope to get the reply by Monday.

Regards,