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How to Withdraw Funds from PayPal to your Bank Account

Everyone might be knowing that PayPal is going through some issues regarding sending and receiving money to Indian accounts. Their bank transfer has also run into problems and PayPal has returned back the amount to PayPal accounts for people who did a bank transfer. PayPal has confirmed that it might take few more days before the issue is solved out. But if you want to transfer funds to Indian bank account from PayPal, you can use the alternative service called Xoom. With Xoom, you can transfer money from your PayPal account to your Indian bank account.

xoom

How to Transfer money from Paypal to Indian Account through Xoom

1. First create a account with Xoom, you can create a free account and confirm the account using a valid email ID.

2. Login to your account and click on the “Send Money” button on the top navigation bar.

3. Enter the amount in USD and it calculates the amount in INR (Xoom provides better rates than PayPal). There are three options- Cash Pickup (this is available in all most all Punjab National Bank accounts), Bank Deposit (deposit money in any bank account in India) and third Home delivery in the form of check. Select the option which suits you the best. You can see the service charge for these options in the right side.

4. Enter the bank account details and the recipient information (Please cross check the details before you submit)

5. Next step, select the payment method. Here you need to select PayPal as the option to send money. Below you can see an box where you can enter the coupon code. You can try using XOOM2010 or FEBXOOM10 to remove the transaction fees.

Select Payment method

6. This will redirect you to PayPal login page, enter your credentials and allow Xoom to withdraw the money. Once the transaction is complete, you will get a notification about the transaction. You can track your transaction online with the code.

That’s it, Xoom get you money into your account in as quickly as one day or at the maximum in 2 or 3 days.

About Nirmal

Nirmal is a Technology Blogger and a Microsoft MVP in Windows. He can be contacted at nirmal@nirmaltv.com. You can find Nirmal on , and .

8 comments

  1. Now where on earth did this Xoom thing come from? Can it be trusted?

    • Yes, lot of people have withdrawn funds thru Xoom and it was already in place, but it is not like PayPal, but similar to Western Union thru which you can send money.

  2. @Kaushik Yes Xoom is trusted company like paypal.. i m already transferred 200$ to my account ..There exchange rate is also great compared to paypal…

  3. Don’t really seem to understand why all are too much bothered about paypal,There any many better fund transfer services available these days friends…. Paypal is not the end of the road, but a reason for many of you to explore realities and experience better alternatives.

    Moreover, paypal gives worst exchange rates as compared to say… Xoom, money bookers , money-gram or a western Union…All of these vendors offer equally good, if not better transaction processing time too, All the more legitimate too…

    I don’t intent to use paypal services even if they reinstate and get proper registrations from RBI in future…

  4. @shymam: yes ofcourse paypal Paypal is not the end of the road, but dont forget it has laid down the road to online money transfer…..:>

    paypal..

  5. All my funds to paypal reversed :(.

  6. even xoom transfer is now facing issues. Next what?

  7. Recent issues with PayPal withdrawals to Indian Banks & more over payments just randomly being reversed back to the senders will have a deep impact on PayPal’s reputation. It raises so many questions like (THIS MIGHT CONTAIN SPOILERS):

    A) Should we trust PayPal in future?
    ANS: ABSOLUTELY NO

    B) Are they really concerned about our Money?
    ANS: ABSOLUTELY NO, After a long period of two weeks we receive an apology letter stating that “We are sorry we goofed up opps!”? and stuff like “Your money just got sacked since this is nothing serious to us we are just doing a drill of playing a game with your hard earned money”?

    C) Is RBI responsible for this?
    ANS: UNQUESTIONABLY MAYBE, So, Question is why this is happening in India and nowhere else? Question is why we are being kept behind curtains and dark? Question is why Moneybookers and other Payment systems are working but PayPal is not? you just want to exclude the RBI out of this since they are least concerned with us. Everyone failed here! RBI off course you cant expect them to give you a comforting truth so a comforting lie should suffice you! And PayPal Ow man no shit a multinational company failing to inform and notify of an issue of this magnitude. That was an AWESOME combination of pure frustrating, destroying trust & spreading chaos.

    D) So what does PayPal tell us now?
    ANS: “We are sorry, but your valuable to us so please give us another opportunity to goof up and play some more engaging games with your money” and “We just love to make more profits by giving you a pathetic exchange rate”

    D) What now?
    ANS: DTA (Don’t Trust Anyone) Get your sleeves up against them and find your own ways to get paid over any other medium that serves better, communicates better and keep them in plenty. If one fails other should work out.

    Ive let all my clients know about this issue and advised them (in advance unlike PayPal) to switch over to some other Payment system which is reliable, responsible and does the main thing “ACTION” at PAR. The truth will probably be dead and berried RIP about what happened because the shame and disgust they bring upon themselves is apocalyptic now.

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