Withdraw funds from PayPal to Indian banks

By | January 25, 2009

paypalThis post is to answer all the blog comments asking how to withdraw money from PayPal to Indian banks.

PayPal allows you to withdraw money directly into your Indian bank account for free if you are withdrawing more than Rs.7,000. If it is less, it charges Rs. 50 as fee. This is the better way than requesting cheque because it takes few weeks to deliver, a month for realization, and more over PayPal charges $5 fee and your bank charges approximately Rs.150 to Rs. 250 for clearing international cheque.

Follow these steps to withdraw funds from PayPal to Indian banks:

Log into PayPal and click the link “Withdraw” Then, select the option “Withdraw funds to your bank account” and click “Add Bank Account” It will ask First name, Last name, Bank Name, IFSC code, and Account Number. The thing in question here is IFSC code.

IFSC is Indian Financial System Code assigned by Reserve Bank of India (RBI) for every bank branch for easiness in transferring funds and communication. If you have an ICICI account, you can see the IFSC code printed on the cheque book itself. Get the list of participating banks and its branch codes in an xls sheet by clicking here. This is the link to the main listing page where you can find the updated list in case if it is updated by RBI and you are not able to get the XLS sheet. IFSC code is an 11-digit character and numeric code and looks like BKID0003322, which is an IFSC code for Bank of India, Gandhigram branch in Gujarat State. 3322 is the branch code and BKID is the bank code. Enter the appropriate IFSC code for your branch followed by your account number. You can also confirm it with your bank branch. After that you can select the amount to withdraw into your bank account, which readily converted into Indian rupees and showed to proceed with withdrawal.

Once you are done, you will get the money directly into your bank account in three to seven business days. I have tried to transfer the money to an ICICI account and it took only three days for getting the money. Still have questions? Post in comments.

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223 thoughts on “Withdraw funds from PayPal to Indian banks

  1. Jamshed

    Hi naveen,

    My full name is jamshed singh luthra and i want to withdraw money from my paypal account. Paypal says that type your name correctly word to word as on your Bank account. Name on my bank account is Jamshed P Luthra, P stands for Parvinder which is my fathers name, since i live in mumbai, Here they put fathers name as your middle name. I requested to bank to change my name from Jamshed p luthra to jamshed singh luthra and i don’t know have they changed it or not…

    When I try to withdraw money from paypal, Paypal only shows first and last name, so what should i do. Should i skip middle name or not.

    If i skipped middle name, will my bank accept the payment or it will be rejected…Please tell me.

    Reply
      1. jamshed

        It’s my first time withdrawal through paypal and paypal says minimum $10. should I transfer money to my bank by filling only first and last name (skipping middle).

        My bank is oriental bank of commerce.

        Reply
          1. jamshed

            Thanks, it worked without any problem. Funds got transferred in my bank account within 4 days.

  2. owais

    hi, i opened a paypal account and entered my bank account details on 22-dec. but till now my bank account does not show me any deposits.i contacted paypal they told me (we assure you will be able to see deposits very soon) but till now i am not able to see deposits. please help me with regards

    Reply
  3. karumuru Dinesh Reddy

    hi;
    Naveen, i hv an account of paypal.. i hv sbi account.. which debit cards accepts paypal.. visa debit cards or visa gold debit cards… plz send tell me answer..

    Reply
  4. Nilam

    I have account with Bank Of Baroda. I m having Debit Card of the same bank, but i m not having credit Card, so Please let me know can i transfer my money from paypal account to my Bank of Baroda Account ?
    I want to open paypal account to withdrawn the money win by PTC website.

    Reply
      1. Nilam

        Hi Naveen,

        I have opened Paypal account. When i have transfer my money from website to my paypal account they are asking Paypal account number but i dont received any paypal account number. so please guide for the same.

        Reply
          1. Nilam

            Ok Thank u for your reply . I will try it and inform you. Your comments are very helpul for us.

          2. Nilam

            Hi,

            I was transfer my paypal money to indian bank on 13.02.12 still i have not received money in my Indian bank account.

  5. Ankur Barot

    Dear Naveen,

    We are having Foreign PayPal accounts.It’s possible to transfer money from foreign PayPal account to indian bank.

    Please guide on the same.

    Regards

    Ankur

    Reply
    1. Naveen Post author

      Don’t know about that…sorry. But, you can transfer it to an Indian PayPal, which automatically withdraws the money into your bank account.

      Reply
  6. beenu rani

    maine paypal account m apna karnataka bank ltd ka account number diya hai kya usme meri payment nahi aa sakti. plz reply

    Reply
  7. murtaza sheikh

    i withdraw my paypal blance to bank as it says transaction is complete not get money yet in mmy sbi account??

    Reply
  8. joydeep

    I have sbi yuva international debit card. and want to buy some products from ebay.
    they need paypal account.
    i have made an account , and linked up with my bank.
    but now i have seen that they dont get connected with my sbi yuva card, they need credit card.
    i have seen ur blog , u hav said to use vcc. but i dont hav any hdfc bank account.
    so is there any other way to sort out this problem?

    Reply
    1. Naveen Post author

      You need credit card for purchasing from eBay. eBay item is paid using PayPal as payment processor. I never used VCC for purchasing products from eBay. I don’t know if any other bank offers VCCs from their debit card.

      Reply
  9. joydeep

    I just want to ask one more question that , using hdfc vcc , each and every time whenever i will be buying product from ebay … will i have to verify the vcc code ? it will be deduct 1.95 dollar each and every time.
    else could i directly pay without verifying the paypal account?

    Reply
  10. Vishaal

    Hello Naveen ! I have a neteller account and i have requested a MemberWire Withdrawal from them. They have charged me a fee of 550. I have ICICI bank account . They say money will be transferred within 4 -5 days . Any Idea , How much will ICICI Bank charge for this Withdrawal . They say Indian Banks Take high fees for International bank wire , Is it true ???

    Reply
    1. Naveen Post author

      I don’t think they charge anything. As it does not charge anything for my PayPal withdrawal, I assume it does not charge for any withdrawals into bank account.

      Reply
  11. naveen

    hii..naveen..can i ask one question..how and where can i get paypal account..and what is the use from paypal accout..
    please explain me whenever u free…thaanx in advance..

    Reply
  12. joseph

    I have my bank account in Andhra bank and paypal verified account .I want make online purchase though paypal but i could not make though my andhra bank debit card .how can i make please help me

    Reply
    1. Naveen Post author

      I think you need a credit card attached in your PayPal. Is it an International Debit Card or just a Debit Card? While paying through PayPal, did your card show up for processing?

      Reply
  13. arshiyabegum

    hey naveen
    i opened my paypal account and i didnt mention the bank name or account number while registering can i add bank name and account number while withdrawing money how do i know that my paypal account is verified or not

    Reply
  14. Shilpa Sahu

    Hi Naveen,
    Hope you are doing well. I’m a freelancer working for abroad clients. Fund transfer is generally done through Odesk. But now my client wants to take down the transaction from Odesk to Paypal. I have Bank of Baroda Visa Debit Card. Is it possible for me to link this visa debit card to my paypal account to be able to receive funds from abroad? I’ll be really grateful for your help and advice.

    Thank you,
    Shilpa

    Reply
  15. sagar chauhan

    hello sir
    i receive payment of 190$ in my paypal account its auto witdrow to my icici bank account on 26/6/2015 and till today i didnt receive money in my icici bank account
    and paypal showed cleared to that transaction
    so now what i do…..???
    please help me

    Reply
  16. saurabh

    i have an andhra bank account and i have opened a PayPal account, now how can i connect PayPal with bank account?

    Reply
  17. Paul Darnei

    Can anyone please tell me What Indian banks support paypal?
    I have tried United Bank of India and Central Bank of India, but it doesn’t support?
    Will Bank of Baroda do?

    Reply
  18. kiran kumar

    Hi this is kiran freelance Graphic Designer, i need to link my paypal account to my andhra bank account to get payment from my client who is in usa , I cant able to link my ANDHRA BANK ACCOUNT TO PAY PAL please guide me its soo needed

    Thanks

    Kumar

    Reply

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