Paypal account withdrawal to Indian Banks

I have a great news to share with fellow Indians, Paypal has come up with a new withdrawal feature , where in , you can withdraw your account balance to the Indian bank of your choice.

Below are the steps to be followed to add a Bank Account,

1. Login to your PayPal account.
2. Click the 'Profile' subtab on the Account Overview page.
3. Click the 'Bank Accounts' link in the Financial Information column.
4. Click Add.
5. Fill out the Add Bank Account form.
6. Click 'Add Bank Account'.
7. You are now able to withdraw funds from your PayPal account to this bank account.

The fees are very less as compared to its competitors, for withdrawal > 7000 there are no fees levied, for < 7000 there is a withdrawal charge if RS 50. Note:some banks charge their customers a fee for electronic funds transfers

you can withdraw funds to the below banks

State Bank of India , Bank of India, Canara Bank, Union Bank of India, HDFC Bank, ICICI Bank, ING VYSYA Bank, UTI Bank, Standard Chartered Bank, HSBC, Citibank are the participating banks.

It takes around 5-7 business days, but may take more time, depending on your bank's policies.