Can anyone tell me how paypal deposits money in your bank account?
September 28, 2008 12:07am CST
Well i want to now start withdrawing money into my bank account from Paypal.I have certain queries pertaining the same.Well I am from India. 1)Will the money be deposited in dollars(For a non US countries) 2)If none of the currencies mentioned in Paypal comply to my countires currency whihc is INR,how does Paypal deposit it.Because I cannot convert from Dollars to INR in Paypal,because Paypal does not offer currency conversion for INR. Can anyone solve this doubt for me pleas
28 Sep 08
you are abosultely right my friend, i too am from india and we have the option of converting it to Inr before withdrawing. I once did withdraw 50 dollars to my bakn account but My bank charged me some good money for withdrawing it. It was a private bank so may be becuase of that they charged more not i am thinking of opening a new bank account with some government bank which have some minimal fee for this international fund transfer. Hey can you tell me which banck charge the lowest for international fund transfer.
28 Sep 08
First you have to add a local bank account to your paypal account. Once you've already added the bank account, it's quite easy already to deposit or transfer the money from your paypal account to your bank account. The money will be converted to your local currency. So you should be aware of the exchange rate of the US dollar against INR. In my case (im from the philippines), i got the money after 5 days of my transfer.
28 Sep 08
You can check on the paypal withdrawal section. Here in my country, the money that I withdraw will automatically converted to IDR currency when I request for the withdrawal. But if I request under certain amount of money, I would have to pay for some fee. As far as I know, and as I can remember, the currency would be adapted to your currency at the bank account