Here I will guide you how to withdraw money to bank account in india from paypal.
People have lots of question,IFSC codes.
Here I have given step by step guide with pictures.Hope you will get your doubts cleared after reading this.
Paypal charges 50 Rs for less than 7000Rs withdraw.
Step 1 : Add a bank account.
Under My account tab,In profile menu select Add/Edit a bank account option.
Step 2:Finding IFSC code for indian bank branches
you will see something like this.Now in this step you will need your IFSC code,which changes branch to branch.Every branch has unique IFSC code which does not change.
This below document from Reserve bank of India contains all IFSC codes of all branches in india which supports National Electronic Funds Transfer (NEFT) system.
http://rbidocs.rbi.org.in/rdocs/content/docs/68774.xls
Find your branch,Get its IFSC code.
Enter it in Paypal.Enter your bank name,whole account number
Continue and confirm.
Step 3: Withdraw money
On my account page click withdraw.
On next page click “Withdraw funds to your bank account”
Fill up the form as guided in below picture
In next step they will ask for confirmation with showing exchange rate they are used for sending you money.
Click confirm if you agree to the rate of exchange ( 1$ USD = 43.79 INR something like this)
Your transfer has been completed.You will get mail receipt and money in 5-7 days.
In recent activity you can see the transfer
Cheers! Happy online trading.
TIP: CREATING A “PERSONAL” TYPE ACCOUNT IN PAYPAL WILL NOT CUT YOUR FEES,YOU WILL GET FULL PAYMENTS EVERYTIME WHEN SOMEONE PAYS FROM PAYPAL BALANCE
