PayPal has added new withdrawals features for its Indian members.
You can directly withdraw funds from PayPal to your Indian bank account.
At the moment you can transfer your money in following banks:
- State Bank of India
- Bank of India
- Canara Bank
- Union Bank of India
- HDFC Bank
- ICICI Bank
- ING VYSYA Bank
- Axis Bank (UTI Bank)
- Standard Chartered Bank
- HSBC
- Citibank
If your withdrawl amounts less than 7000 Rupees, there will be a fee of 50 Rupees but NO FEE for more than 7000 Rupees. It will take minimum 5 to 7 business days depending on your bank’s policies.
For adding a bank account with PayPal, you need IFSC code, account number of your bank’s branch. Click here to download the IFSC codes of Indian banks.