Money in PayPal

India
March 2, 2011 5:45am CST
All here are aware of the PayPal policy for Indians. I had about 21$ there, this I transferred to my savings bank in India in two steps, first 10$, next 11$. One may ask why in two steps, my answer is, it was a trial. The money came to my bank in a week time; it was converted to rupees, on the basis of that day’s conversion rate. The charges were 50 rupees each time, it was deducted and rest amount was sent to my bank. Indian friends; have you got your PayPal money transferred? Other friends, do you get your earnings transferred to your bank each month? Do you make purchases using this from eBay? Please respond. Professor ‘Bhuwan’. . Cheers have a lucky day ahead.
2 people like this
14 responses
@rameshchow (5284)
• India
2 Mar 11
In very simple steps you explained it. Yes i got the money through the same process which you mentioned above. But in the starting i have no belief on this online money transfer process. And i had many doubts also which are terminated in a single transaction. Thanks for sharing this valuable data.
@dawnald (84146)
• Shingle Springs, California
2 Mar 11
I occasionally make purchases from e-bay using paypal, yep, it's very convenient. E-bay is why I set up a paypal account to begin with.
• United States
2 Mar 11
Is it true that you can transfer money from paypal to your bank?
1 person likes this
@dawnald (84146)
• Shingle Springs, California
2 Mar 11
I'm told that you can, but I have never done it.
@dawnald (84146)
• Shingle Springs, California
2 Mar 11
I use it to pay for things on e-bay and other places.
• United States
9 Mar 11
Personaly i didn't receive yet money because i'm new. So I trust on myLoy then ;).
@chiyosan (29474)
• Philippines
5 Mar 11
Ive used my paypal in purchases several times already... For Philippine paypal users though i will not suggest to withdraw twice because the charges. Incurred just to have the amount transferred is doubked as well.
@Lakota12 (42684)
• United States
5 Mar 11
U.S. here I keep it in paypal for really dont have much there and I have one program that takes so much a month out of it. If I ever strt getting more inthere I will get the ATM card
@dorannmwin (36698)
• United States
4 Mar 11
I will typically let my paypal balance accrue over time because I want there to be a pretty decent amount of money before I transfer it into our checking account. Our family is able to transfer a maximum of $500 a month, so I like for it to get pretty close to that amount before I transfer into our checking account. However, there are times that I will use some of the money that I have in our paypal account to pay bills or make some miscelaneous online purchases which makes it take longer to accrue a lot of money in my account.
@pupupd (1521)
• India
3 Mar 11
I have transferred my money to my HDFC bank account. It was done within around 2-3 working days. They were really quick. I did not understand why you divided your transaction into two parts and paid Rs 50 for each of them. You can transfer complete money in one go right? I do not transfer my money every month. It depends how much has been collected and then I request withdraw I tried buying things from ebay, but then I did not have much trust on their shipment. I thought they will take excess time and I cannot afford that. Once I order things I get very excited to have them as early as possible.
@doryvien (2293)
• United States
3 Mar 11
Hi Professor, Yes, I always transfer my online earnings from paypal to my bank account, it's convenient and I get charged a minimal fee for the transfer. I haven't tried purchasing items from eBay coz I've got friends who were not happy when they did transactions with eBay. Maybe that's why I never tried it.
@mayka123 (10598)
• India
3 Mar 11
I have got my money transferred from paypal to my Bank a couple of times. My earnings on the net is not much now. So for the past few months I have not got anything to transfer there. The minimum that we can transfer is $ 10 and I still have to accumulate that much.
• Indonesia
3 Mar 11
Hi, I do get my earnings transferred from paypal to my local bank account whenever I need them. I don't make withdrawal request every months, I haven't made that much, lol. I've never purchase anything from eBay or amazon because they charge a great deal of money for shipping.
@borris83 (18)
• India
2 Mar 11
Does anyone know what happens if we don't transfer the amount to our bank immediately? The update is only in effect from yesterday and I still have about $7 in my Paypal account.. Not sure what will happen if I leave it there, but I want to keep the amount in Paypal to make payment for anything for which Paypal is the only option. Not sure it is possible anymore, but will try.. Once I take withdraw money from Paypal, I can't put it back
• United States
2 Mar 11
Why do people put the dollar sign after the number? So annoying. Tells me they are foreign. It belongs in front of the number.
@kiran8 (15360)
• Mangalore, India
2 Mar 11
Hi Professor, by making two transfers you lost 50 rupees. I just got my money transferred from paypal. I had about 160 dollars but it was a few rupees short of Rs 7000/ so I had to pay 50 rupees as bank charges. I guess I could have waited for a week and then would have received some more payments, but I dint want to take any chance with paypal already having informed us that we need to transfer the money received within a weeks time - all the best and have a nice evening
@tigeraunt (6331)
• Philippines
2 Mar 11
hi professor, my money is in paypal and i have not touched it. when the news about india requiring paypal to transfer the same to the bank account of each individual, even if i am from the philippines, it also crossed my mind. i didnt want to withdraw it and transfer to my account because the exchange rate is still very small here in our country. i pray it goes up a little higher (like all prices getting higher )then that is the time i will transfer the same have a nice day. ann