Users of PayPal in India are facing some issues in some type of transactions.
According to PayPal, money withdrawal to local bank accounts in India will be resumed after few days.
Anyway, there are some other alternatives also there if you want to immediately withdraw money from PayPal to your local bank account.
According to DigitalPoint forum discussions the best system for withdrawing money is Xoom.
Unlike PapPal, Xoom will take some fee (minimum 9.99$ for PayPal transaction).
But the good thing is Exchange Rate will be good comparing to the PayPal Exchange rate.
And, Xoom will be providing promotion coupons (e.g XOOM2010). If you use this promotion code, the fees will be waived/discounted. But you have to use it one time only.
The promotion code will be expired after some time.
Find below the steps for using Xoom for withdrawing Money into local bank account.
- Goto xoom.com
- Signup with your real info.
- Confirm your account once you got email from Xoom.
Now you can send money .
- Fill recipient information
- Select Bank option
- Enter coupon code (Currently XOOM2010 is a valid code) if you have.
- Authorize the payment.
You will get the transaction status updates from xoom to your email id. Normally it used to take around 2 business days for getting money deposited in the Bank Account.
Money will be transferred thro' Buy INDIA ONLINE.COM INC
Disclaimer: Note that we are not affiliated with xoom.com. We are just providing the information collected from various sources.
If you have tried to use Xoom, you can take this poll.
If anybody used Xoom previously you can share the advantages and disadvantages of xoom thro' comments.
By seeing the poll result I can understand that many people are not successful with Xoom withdrawl. Can you provide more details about the issues/problem you are facing to complete Xoom withdrawal?
If you are not able to use Xoom, alternatively either you can request check from PayPal or withdraw your money to your Credit Card.
PayPal is willing to refund the check withdrawal fee amount (5USD) for trying to help the India customers in this difficult time.
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Updates on February 22: It seems Xoom is also not allowing to transfer money from PayPal to Indian bank account.