Paypal updates

Withdrawing money from paypal directly into your Indian Bank account.

Yes it has been offered atlast to the Indians and they can now transfer their paypal money directly into their bank accounts. So no more waiting for checks. It says 5 to 7 days for a bank transfer.

Only thing is that if you withdraw money less then 7000 then it charges 50 INR for it. If the withdrawal is more then 7000 or 7000 then the transfer is free.

To withdraw the funds directly into your bank account you have to go to Withdraw money section and then enter the details including your bank name and the IFSC number and account number. To find the IFSC number you can check out the list here

As of now some banks are supported but maybe more will be added later on.

One other good news is that the limits of Indian Paypal users is now raised from 2500 USD per month to 20000 USD per month.