Forum Moderators: LifeinAsia
I am unable to transfer money from my Paypal account to my Indian bank. Can someone from India(using Paypal) provide information on how to accept Paypal payment in my Punjab National Bank account?
Which bank do you use to withdraw funds from your account, to India.
I stay in India.
You can accept payment through your Paypal account but only use the funds to pay to others.
Arun
I myself had same problem but now I can at least withdraw funds for some transaction fees. Please note that limitation of cash2india is that it's STRICTLY for personal money transfers. It's better to get in touch with their support team first.
THE RBI does not allow you to accept any services payments in foriegn currency through means like this. Even WU is not allowed. Sites like Rent A Coder first used to use WU for paying codes but now they have withdrawn that.
best way is to be registered with STPI, India and use proper modes of payment!
So far, I have been using it only for withdrawing dollars in my Personal PayPal account to Rupess in Indian Bank Account. No service or business transaction whatsoever. Cash2India is RBI approved and money is sent as a gift money from relatives outside to my account (first money is transferred to their personal paypal account). I receive amount no greater than $2500 (permissible limit) in any calendar year.
WU or C2I are basically similar in nature and I understand they cannot be used for accepting funds for any reason other than personal reasons and I did mention that in my post above. Please feel free to correct me where ever you think I am wrong. Thanks for reading.
They run on paypal IIRC
[edited by: stuntdubl at 9:05 pm (utc) on May 27, 2004]
[edit reason] de-linked url [/edit]
Paypal takes one/two months to answer emails sent(also the reply is simply a copy/paste from their help section, which does not explain my querries). That's why.
Why not call them?
Not sure if I can post phone numbers, but here is PayPal's 800#:
888.221.1161 (just say "agent" when the automated message picks up)
Also not sure if you can call US 800#'s from India. You can also try calling the number listed under their WhoIs info.
You could sign up for a PayPal debit card and access your money via ATM's or by purchasing something with the debit card. Again, not sure if this can be done in India.
Paypal won't send it to indian bank account as of now.
Right. Another option is CCAvenue. It is a paid service though. HTH.
So the only way you can withdraw money from your Indian Paypal account is by actually using it on the internet for payment.
Unless money is received directly from the client in the form of check or wire into your account and you have Import Export License, it's fine. All other modes are illegal offense under RBI FOREX Terms.
nakul,
Do you mean by the above, that is you don't have an Im-Ex license you're doing something illegal?
So you are saying, someone paying via WU for a basic service, and an Indian citizen accepting it here is doing something illegal? Hmmm...... It's got to be a gift only?
Nakul said :
THE RBI does not allow you to accept any services payments in foriegn currency through means like this. Even WU is not allowed. Sites like Rent A Coder first used to use WU for paying codes but now they have withdrawn that.
So you are saying, someone paying via WU for a basic service, and an Indian citizen accepting it here is doing something illegal? Hmmm...... It's got to be a gift only?
Yes, if you sell any kind of softwares, script, ebooks or other services etc through any means (exporting on media or through downloads) you are required by law to have an Import Export License. You can apply for one through the Directorate of Foreign Trade. Any money earned without this license is illegal and can put you in trouble when you file your tax returns.
i agree with you..that pay pal is very difficult for Indians.. as i've tried that once.. but now i just go for "WEASTERN UNION MONEY TRANSFER" that is best and safe way to get money..
and other wise if you have account with any international bank..you can get direct wire transfer .. and some banks dont charge for that..
as i've account with CITI BANK and all my clients now deposti money to my CITI BANK account to their nearest location and i get money here in my bank..
as CITI BANK is worldwied...
and there are some other options.. i feel do it this way insted of using any other option..
Thanks for that info. Really helpful.
Would you be kind enough to clear 2 things for me..
1. What if any are the transaction charges involved (currency conversion)?
2. How long does it take from client-check drop in to credit in your bank account?
Looking forward,
Thank you!
see if your client is droping chaque into that same bank where you have account..i mean see like if you have account in CITI BANK india and your client is depositing money to CITI bank USA you get transfer in maximum3 days.. there no charges involve in this...form you end that means you bank wont charge you anything for currency conversion...
and if that person who is depositing if his bank has got such charges hen if will be very much less then PAYPAL..
just chaque hat.. and tyr to use direct bank transfer or "WESTERn UNION" is both are the most safe and best ways.
Western Union has got some charges that deffers from country to country you ge payment in arouind 48 hours.
I’m about a month late on this topic but……
Did you end up choosing a good method for payment to India? I’m in Canada, trying to find the most economical way of paying developers in India. HSBC (an international bank) wire-transfer has $35 CAD minimum charge (about $26 USD). The person receiving the money does not have to have an HSBC account. I am currently trying to find a more economical way (if it exists).
Have you found any other economical and reliable ways of sending money?
