Indian Banks Processing Paypal Withdrawal Request
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Paypal Fiasco suddenly ended when Purpose codes were introduced and Indian Banks resumed services for withdrawal request . This comes as a great relief for both Indian Freelancers and webmasters with complete reliance in paypal’s payment gateway for all transactions.
However i i have withdrawn an amount of 160$ amounting Rs 7082 at the time of conversion from dollar to rupees on 5th march’10 . I just checked in this evening in my SBI Bank account and found the funds have been deposited .
I have chosen purpose code as Freelance Journalism News. Please let me know your queries if any about the mode and nature of the transaction.
For Paypal Integration in your blog and other blog services please contact me.
Thats great dude congs .
thanks a lot for posting this…of course, will wait to hear about other success stories before moving ahead but my bank is also SBI so I’m very relieved
Dont worry dude , go ahead. Who knows when this will stop again and all your money stopped again .
You must have a look at this what Kuntal has to say . Paypal verification using Bank deposits .
http://www.pocketmoneyfinder.com/how-to-articles/new-paypal-account-verification-method-using-bank-account/
Hi Sourish,
I am from Kolkata, a freelancer. Please look into my following points:
1) I need to transfer fund from my Paypal account to SBI acct.
2) After adding my SBI details (23rd Feb), Paypal did not deposite any small amount at my SBI acct for verification yet now as they declaerd at their site.
3) Afterall when I follow the “Withdraw funds to your bank account” option and after completation of next step Paypal shows that my SBI Account Type is “Current” but my account type is “Savings”. I dont submit that request then. How confused is this.
Please help me regarding this matter.
you may like to share an image of what you see . A verified account has noting to do with withdrawals , it just lifts the limits . I have never seen a option for current and savings account in Paypal , that is what i would like to see
What Purpose is suitable for me? I am a Freelancer of Photo Editing, Data Entry, etc.
Use “freelancing” at the moment . Wait to see if any of the transaction is refunded . I have done twice . will be doing again in 2-3 days . Waiting for my last transaction to complete this evening or maybe tomorrow
It would be nice to hear from people attempting this who have already been using Paypal. If ur just opening an account it might be better to check out threads that can help you out more. I would like to hear from other people if they’ve been successful in ONCE AGAIN getting funds transferred. Also, re: verified…I am unverified cuz I live outside of a hub and can’t get a credit card because of my address. This only means I cannot withdraw more than $500/month…up to now not a problem.
[IMG]http://i41.tinypic.com/o94g0w.jpg[/IMG]
yes , i have seen that image and just checked mine . Its not a problem . Just like you can withdraw money from a credit card from any atm, there you choose current , since you dont hold an account with the bank , similarly paypal holds no account in your bank , so they are making the transfer as current .
@Janu
I have received the funds in my bank this evening . Asked for another withdrawal using same process , hopefully will be done by monday . But the exchange rate is very low , Rs 44.06
Thank you Sourish for your great guidelines. I just have received my money in my SBI account from Paypal. It takes only 4 days.
Nice to know you received the funds . This is the third time i have withdrawn and got the fund from PAYPAL . Are you a freelancer ?
Now Paypal is rejecting PAN #s…will they ever get it together totally? Paypal, when it works, is totally convenient. But the low exchange rate and service charges can make is cost prohibitive. India needs an alternative….
Janu, refer us If you get any alternative…
hi
i m a webdesigner so which code shal i choose.
if i choose software consultant then that doesnt comes under freelance. Software export means i mean having a big company, which is not true. i m just a freelancer.
vineet
Well there seems to be no charge associated with what you choose as your export code . You can choose whichever you like , seems more appropriate for your kind of job. Go with the freelancing& journalism option , as we all are making small money with tiny freelancing jobs.
Hi,
It’s OK. I provide a purpose code for the transaction and money is transfer to my bank a/c.
But I have a question. I am a blogger and earn some money for placing ad link on my site. Should I need to obtain IEC code for this service?
[ I'm asking for News agency services and not for withdrawal .]
Well since there is nothing mentioned for advertisements , you may use the “others” purpose code there . however i have never used it myself and i stick to FreeLance Journalism and News
Hi, I wanted to know if there is a withdrawal fee paypal deducts each time you withdraw funds from your indian bank acc?
Thanks
no charge if amount more than 7000 rs , or else 50 rs
I am currently studying abroad in US on a F1 status visa which does not permit me to earn income online in US$ as it is illegal by law. However I was wondering if I setup a paypal account for some one to receive any payments for me in India, thereby an out of border transaction, after which I could withdraw the amount to my US bank account? Would this be possible?
I am currently studying abroad in US on a F1 status visa which does not permit me to earn income online in US$ as it is illegal by law. However I was wondering if I setup a paypal account for some one to receive any payments for me in India, thereby an out of border transaction, after which I could withdraw the amount to my US bank account? Would this be possible?
Hi,
What Purpose code should i opt for?
I am an uploader and i get money from filehost like fileserve and filesonic.
hi…..i have to receive refund from hostgator.com which is a hosting service as you would know….what will be the purpose code for that??
regards
Aniket