How to transfer funds from your PayPal account to your bank account in India?
PayPal is the best and the most reliable way of receiving online payments in india. It is very easy to transfer funds from your PayPal account to your banck in India.
If you want to avail the services by paypal, you just need to have a valid account with PayPal. Some people have a misconception that paypal account is not reliable and its registration process is very complicated but I want to remove this misconception that it is not at all difficult to get a PayPal account in India.
Paypal tries to improve their services for Indian customers. One of the new and improved services of paypal is that it provides auto transfer of funds from your PayPal account to your bank account in India within 5-7 business days. If you are a Kontera or Infolinks publisher then you can get your payment easily through PayPal.
How to get started with PayPal in India?
If you are a new bee and willing to avail the services of PayPal, you have to register an account at PayPal India. The Email ID which you have entered during registration is your primary Mail ID for receiving payment in India.
Make sure that you correctly enter your first, middle and last name to avoid any issue and mismatch in future. Make sure your Indian bank account name is same as PayPal account name because PayPal review team denies your account access during verification if there's a name mismatch.
After registering your PayPal name with Indian bank account name, you need to verify PAN number, purpose code and bank account details. If you want to link your credit card or master card then the name reflecting on the card should be same as the name which reflects in your bank account.
Some people are unaware of purpose code. This code tells for which services you are getting the payment. This is a rule under the act of RBI that the purpose code must be there in the bank credit details.
I would also like to explain to you how to review the process. PayPal credits two payments in your bank account and you must verify if those two payments are exactly same. It will take 5-7 business days for these two payments to transfer to your bank account.
Once you confirm that you have received your funds, the PayPal team immediately updates it. If you get something wrong in your PayPal account, the PayPal team will put your account on hold and then you need to verify your identity proof with a scanned copy of your account statement, driving license, utility billing, Nationality commission card, Photo identity or address proof.
The address mismatch may cause conflict but a document uploading to PayPal is better solution to all these problems.
Withdraw Funds from Paypal to bank account in India
In order to withdraw PayPal funds to your bank account in India, you need to visit PayPal website. Make sure that you enter correct website name to avoid phishing and account hacking, please be careful while using PayPal website. Enter your Email ID and password and then go to withdraw tab and then click on "Withdraw my Paypal funds to your bank account", the screenshot of which is given below-
Enter the funds you want to withdraw to your bank account, select your verified bank account, select purpose code and finally click on continue button to withdraw your payment. You will get notification mail from PayPal about your payment status. The screenshot of it is given below-
Enjoy PayPal payment in your bank account. Once you made your first transaction with PayPal then rest of your transactions will operate in 3-4 business days. If you have any doubt regarding the Paypal funds transfer in India, please feel free to leave your comments below.