Doubt : Indian paypal creation
- Thread starter jackteam
- Start date
- Jan 8, 2010
- 13,637
- 8,258
You can choose any bank account for creating a account for paypal.
bank will not deduct any fees , paypal will do that thing.
bank will not deduct any fees , paypal will do that thing.
- Sep 10, 2010
- 11,834
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ICICI, AXis, SBI, they all work for receiving money, tested. As for sending money, you would neeed a debit card/ credit card. For debit cards, you will need to enable these transfers ( not sure what it is called. Visit your nearby branch and ask them that you want to be able to use your card in paypal). As for credit cards, everything works.
Btw, you can't even pay from your online account balance. Your balance will get auto debited to your bank account as per RBI norms.
As for commisions, it is a double game. They will charge a small ptg ( like 4-5%, never counted) when you receive your money. Then when they convert it to INR, you will get much lesser amount than the current market ( e.g. 63 vs 66 in market).
Btw, you can't even pay from your online account balance. Your balance will get auto debited to your bank account as per RBI norms.
As for commisions, it is a double game. They will charge a small ptg ( like 4-5%, never counted) when you receive your money. Then when they convert it to INR, you will get much lesser amount than the current market ( e.g. 63 vs 66 in market).
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jackteam
Elite Member
- Jun 9, 2015
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Thank you for your great information. Then which bank is better than others.
I'm checking the $ price is INR in google that it shows above 63INR. Is paypal will transfer at least 60INR to my bank or only below 60INR?
- Sep 10, 2010
- 11,834
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I prefer ICICI personally. THey all are the same though. You will get 60.xx INR per dollar.
jackteam
Elite Member
- Jun 9, 2015
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Awesome. if i getting 2.5$ means, will i receive 150INR into my bank after the paypal commission right?
- Sep 10, 2010
- 11,834
- 26,686
yupp. Your bank won't charge anything.
jackteam
Elite Member
- Jun 9, 2015
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Very useful and I gave you request bro Please accept that.
blackmint
Senior Member
- Jun 8, 2013
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Any bank works with PP.
For example : If you are withdrawing from Fiverr instead of $4, only $3.92 reaches your account.
During currency exchange you will get much lower amount for the Dollar.
I do check regularly on xoom for their exchange rates to calculate the average price i may get per dollar.
It was always much lesser.
For example : If you are withdrawing from Fiverr instead of $4, only $3.92 reaches your account.
During currency exchange you will get much lower amount for the Dollar.
I do check regularly on xoom for their exchange rates to calculate the average price i may get per dollar.
It was always much lesser.
Cryogenesis
Elite Member
- Sep 1, 2013
- 1,985
- 3,294
You can use Payoneer as an alternative to PayPal.
And about the banks,go ahead with Axis bank dude. Best in the business and their customer care is top-notch!
And no you don't need a credit card to buy something.
I have my Debit card linked to my PP and that's how I do my transactions.
niketan237
Newbie
- Mar 26, 2013
- 46
- 4
its simple process man...google it you ll get step by step instruction
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BANNED
- Aug 27, 2013
- 1,348
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Its not decided by bank how much will you get from $1.
Its depends upon currency exchange from dollar to rupees.
If $1 = 64.75 rupees (Stock Exchange) you will get 62.65 rupees on your account 2.10 rupees will deduct from your money for currency convert from dollar to rupees.
Also, if you wanna pay someone from Paypal or CC again currency convert from rupees to dollar it will add currency convert charges.
So if you receive money then they will cut 2.10 rupees and if you pay someone they will add 2.10 rupees.
Its depends upon currency exchange from dollar to rupees.
If $1 = 64.75 rupees (Stock Exchange) you will get 62.65 rupees on your account 2.10 rupees will deduct from your money for currency convert from dollar to rupees.
Also, if you wanna pay someone from Paypal or CC again currency convert from rupees to dollar it will add currency convert charges.
So if you receive money then they will cut 2.10 rupees and if you pay someone they will add 2.10 rupees.
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blackmint
Senior Member
- Jun 8, 2013
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- 437
Can you tell me which Bank's Debit Card you are using ?
Because i was unable to use my Axis Bank Debit Card.
blackmint
Senior Member
- Jun 8, 2013
- 931
- 437
I know that.
Check prices with xoom.
xoom's exchange prices are very high.
if you want to send money to somebody use xoom.you will get high prices always.
Xoom.com today rate is 1 USD = 64.2800 INR.
But if you are withdrawing from PP you won't get these price.you will get around Rs.3 less.
jackteam
Elite Member
- Jun 9, 2015
- 1,655
- 425
Thank you all for taking your time to respond me.
I have another one doubt.
My friend already having one account created recently.
He started service now and got paid to his paypal.
But now they are in pending. It says that the payment become to pending for 21 days.
why it happened?
I have another one doubt.
My friend already having one account created recently.
He started service now and got paid to his paypal.
But now they are in pending. It says that the payment become to pending for 21 days.
why it happened?
It is because the account is limited. You have to do 20 successful transactions and one transaction over $200. But I'm not sure, just make a call to paypal toll free and get cleared with this thing buddy.
jackteam
Elite Member
- Jun 9, 2015
- 1,655
- 425
Yes thank you very much. I have contact with support members now.