SiteFunda.com Make Money Online

New Features of Paypal makes Indian Users Happy

A few days back paypal introduced some new features, which are going to benefit the Indian paypal users hugely. First I saw the transfer to card feature, where you can get your money to your credit card by paypal. That’s a good way to check out. I was actually planning to test that out, but then in a few days time, the transfer to your bank account feature was launched, where you can withdraw money to some of the Indian banks. 

For the bank transfer, we have to put our bank’s IFSC code. For the SBI bank, the IFSC code starts with SBIN00 this part of the code is fixed, after that there will be a 5-digit bank code. If the bank code is not of 5 digit then make it 5 digits by adding zeros in the beginning, e.g. if your SBI bank branch’s code is XXX then your bank’s IFSC number will be, SBIN0000XXX. Easy! 

I have made the transfer on Thursday 1^st of November, at about 10 pm in the night. The transaction is shown completed in the paypal records on 2^nd November that was fast, just 24 hours. On Saturday I updated my bank’s passbook but the transaction is not yet recorded, and the money has not yet reached my bank account. I am not going to check it on Sunday, I will make another update on Sunday and see if the money is processed. I will update this post on Monday; hopefully I will get the money till then. Unfortunately, I have also made a check withdraw some 23 days back, and am still waiting for the check.

Also the limits have been raised, now an Indian paypal user can withdraw $20,000 a month at maximum, which is quite huge. If everything goes on smoothly, I don’t think paypal users of India will have any more complains.

Update: Just checked that the funds is already transfered in my account. The transfer was already made yesterday, 5th november, but i did’nt checked yesterday. Anyways i got the money in 5 days time, including saturday and sunday, so over all, the speed of the transfer is pretty quick. Total 3755.42 was credit, without any fees. Though the Rs 50 fees that paypal took was only because i withdraw funds less than Rs 7000, so if you withdraw money more than 7000 then no fees will be involved. Thank you paypal!