First of all I would like thank you for your time to read this.
I am just guessing it, that are some guys here are from India. So my question is to those guys who are from India and also who might know about it.
How do you tranfer you money from paypal to India? You guys must be receiving your money in Paypal, but paypal does not allow local withdrawal in India. So how do you transfer that paypal funds in India?I am Indian Premier Verified Member.
Any help in this regards will be highly appreciated.
I know I am asking something which you are not at all required to answer but I still has some hope
Originally posted by phision.com You could always open up .....or swiss bank account ) and transfer the money into that, then wire it to yourself or write yourself a cheque etc.
I guess..then I can open up a paypal like site for India
Btw....there seems to 2 options..as I have found out...and I am posting it for all the guys who needs such options of transferring paypal funds to India.
1. www.xoom.com . Seems to be good option, I have personally used it 2 times, although they don't have facilities in all the cities in India, but all thye metros are covered. They deliver the money quickly.
But they don't allow self transfer, so you need to transfer your paypal funds to a good friend'd paypal account, who is outside India. Then ask that friend to send the money to you in India through www.xoom.com
Negative points: exchange rate is bit low and charge is a bit higher if you compare with www.cash2india.com
2. www.cash2india.com, seems very good, good exchange rate and low fees and also has PNB (Punjab National Bank) associated with it. The only problem is you need an USA address for it to sign up. Although I am yet to try it out.
Originally posted by Bub Host WRONG, I am a Verified Australian Member and I can withdraw money into my aussie bank account, maybe its time you brushed up on your PayPal knowledge
I think Subhadip wanted to say about India. Actually paypal allows local withdrawal to Australia...thats why you don't face any problem...but in case of India, it doesn't allow local withdrawal....if you see the list 38 countries paypal support....you will understand that paypal allows Verified Indian member to withdraw in a US bank account....not in a local bank account...
Well, I have been using PayPal for the last 4 years or so; and I know exactly what happens where. If you read this thread carefully, I was replying to the first post.
It says clearly that he is an Indian Premier Verified Member. As far as I am concerned, at least, India and Australia are two different countries. They are thousands of miles apart, with different types of cultures, traditions, laws, and of course, PayPal services.
Valis international's site has changed a lot in last one year. I opened my account in March, 2003 and I paid around $270 to valis international out of which $150 was deposited in my account and balance around $120 was their fee.
(: ..its more than 48 hours now...still seems that draft is yet to be made and then sent to me......its seems that cash2india.com is going to take 3-4 days....although they claim that its going to be within 48 hours in Metros...
You can send to anyone in India who can withdraw the cash and give it to you.
In fact just now I tried and sent myself some money. It got cleared and I was lead to my Paypal account to make the final transaction. Xoom doesnt ask for recipeint;s email or credit card/paypal number to compare with the sender so I think sending to self is possible.
xoom has more fees and exchange rate is also lower than cash2india.com.....over a transaction of 500 USD you can save 500 Indian Ruppes if one goes through cash2india.com...thats my personal experience...because I have transacted through both of them....
Obviously Cash2India is doing their clearing at their suitable time depending on the exchange rate as any forex dept of a bank would do. Whereas Xoom is making almost instant payments so they got to cover their anticipated losses in exchange rates. Depending on your urgency you can make the best of both services.
Consider this situation:
Sensex has crashed by 500 points today and you want to send 1000 US$ to your broker by 10 AM IST tommorow to invest in some shares. Choose Xoom
You are sending some money regularly to your mother every month. Time is not critical but you want to save as much as possible in exchange rate and commissions since you are regularly sending. Choose Cash2India