Indian PayPal users have been suffering from the frequent changes in PayPal policy / user agreement forced upon by RBI. But finally there is some good news for the Indian users. PayPal users in India can now withdraw funds from PayPal into their bank accounts for free and they can also make use of a new feature called auto withdrawals.
Interestingly these changes which mean a lot for the Indian publisher has been made without any official announcement or notification either on the web or via email from PayPal. I just happened to check my PayPal account, today and found these changes.
Many debated that PayPal is dead especially in India. Well not exactly it has just revived itself. If one may recall there was a PayPal charge of Rs. 50 for any withdrawal made to bank account in India if the amount was less than 7000 Indian Rupees. Now it is free, a sign of relief for many Indian users who often had a lower amount and were forced to withdraw within 7 days of receiving the payments.
Well the other rules still exists like you will need to withdraw the amount within 7 days after receiving the payments in your PayPal account. In fact PayPal has also introduced the make auto withdrawal feature so Indian PayPal users need not keep a watch on their PayPal account. Whenever an amount is received it will automatically be transfer to your Indian bank. You still cannot receive amount that exceeds $500 per transaction, it can happen only through multiple transactions.
How to enable make auto withdrawal in PayPal
- Indian users login to your PayPal account.
- In My Account move mouse over the Profile link, and then choose Add/Edit bank account.
- Add a new bank account if you already do not have one.
- Select the bank account and click make auto withdrawal button.
You will then see the Bank status showing Auto Withdrawal which indicates it is enabled.
With no extra charges on amount less than Rs. 7000 it does makes sense to enable the make auto withdrawal feature in PayPal. Sit back and relax, payment received in your PayPal account will automatically find its way into your Indian Bank account.
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