Withdraw Funds From Paypal To Your Indian Bank Account

January 8, 2009 | By Naman Bagga | Filed in: Blogging.

I recently transferred my blog earnings from Paypal to my HDFC bank account.The procedure was fast and simple.Paypal has had this option to transfer funds to your Indian bank account for more than a year or so.The charges are 50 INR for withdrawals upto Rs 6,999.For Rs 7,000 and above,there are no charges.All you need to know is your Account Number (duh!) and your branch’s IFSC code.

Finding your bank branch’s IFSC code

You can ask your IFSC code from your bank.You can also download a list of all bank branches participating in NEFT and their IFSC codes from the RBI website.HDFC Bank Customers can also find the IFSC code on the bottom left of their cheques.IFSC is an 11 digit number and is in the form HDFC000xxxx where xxxx is different for different branches.

Once you know your IFSC code,just follow simple instructions and enter all the required information on the Paypal Withdraw page.The transfer takes place through NEFT.A transfer from Paypal usually takes 3 to 5 working days to complete.I got my funds in my account in less than 2 days.

HDFC Bank doesn’t charge anything for the transfer.I would advise you to check it up with your bank before transferring funds.

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