Paypal Withdraw Funds to Card Works :
Finally my transaction of withdrawal my paypal funds to my credit card worked, and i just got a estatement of all my transactions which shows that my credit card has been credited 500$ which i tried to test out this new paypal service. Though a fees of 5$ has been charged to avail this service and quite lower exchange rate was given but still it helps if you want to make your credit card’s bills paid via paypal.
Though there is a Minimum Withdrawal Amounts limit via paypal, which is as follows.
Currency Balance Minimum Amount
Australian Dollars $15.00 AUD
Canadian Dollars $15.00 CAD
Czech Koruna 240.00 CZK
Danish Krone 60.00 DKK
Euros €10.00 EUR
Hong Kong Dollars $80.00 HKD
Hungarian Forint 2,100 HUF
New Zealand Dollars $15.00 NZD
Norwegian Krone 65.00 NOK
Polish Zloty 30.00 PLN
Pounds Sterling £6.00 GBP
Singapore Dollars $15.00 SGD
Swedish Krona 80.00 SEK
Swiss Francs 13.00 CHF
U.S. Dollars $10.00 USD
Yen ¥1,000 JPY
The paypal to credit cards transaction takes 7 days maximum to complete this transaction and show funds in your account.
Imran says
This even works for a prepaid card that is a debit card.
Depending on whether the bank supports this feature or not.
Amit Nyamtabad says
Thanks Amit, for the info. Is this better service than Xoom. I had a direct debit of my paypal funds to my debit card by Xoom.
Amit Patel says
Its better in terms of saving fees since paypal charges 5$ for any amount and xoom charges higher based on the transaction amounts.
Jim Karter says
That exchange rate is hell low man!!
Mangobyte says
Does this transaction involve any fees by your CC bank. I mean to say any fees for en-cashing the credited amount via ATM..?
BTW, did you able to en-cash it at ATMs ?? or we have to just utilize that amount to pay our CC bills?
Thanks for the goodnews though! 🙂
Mangobyte says
Does this transaction involve any fees by your CC bank. I mean to say any fees for en-cashing the credited amount via ATM..?
BTW, did you able to en-cash it at ATMs ?? or we have to just utilize that amount to pay our CC bills?
Thanks for the goodnews though! 🙂
Mangobyte
http://www.ssdgm.org/
Amit Patel says
@ Mangobyte – I just utilised it against my CC purchases (debit) and this amount was used to credit them.
Mangobyte says
Amit, Thanks for the update. May be you have not yet used it to encash it via ATM. So, still to hear from anybody who used this option to en-cash that Paypal amount.
I think this option is useful only for those people who wants to pay their CC purchase bills. And not for others as it can’t en-cash the amount via ATMs. They have to still rely on that old conventional Cheque option. 🙁
Well, let’s hope for the best!
picadely says
thats really great news. however can you confirm that the CC was normal CC and not an international one ?? I think it can still make a difference.
@imran : can you tell me which prepaid debit card. I have used one of them already but it did’nt work.
@mangobyte : Once you have funds on your CC you can also do a Visa Money Transfer to your normal visa debit card. Ofcourse this service must be, being provided by your bank. Currently most of the private banks have this option.
Mangobyte says
@picadely: Can paypal/any external amount from our credit card be transfered to any domestic/international debit card or any savings account via this VISA Money Transfer?
I thought it is only applicable if someone has enabled a online banking option and want to VMT from his savings account/Debit card to any other card (cc or dc) and not meant for CC to DC/Savings account.. Is that possible in India because I haven’t seen that kind of transaction?
Please help me clear my doubts.. Thanks!
picadely says
@Mangobyte : I am confused a bit on this. However, I have done a (online) VMT on my own debit cards from different banks. So I guess yes you can do a VMT if you have money available on your card (CC/DC). International, I am not sure . National, I belive is possible. Once you have the money on your CC/DC, issued in india, you should be able to do a VMT to any other VISA card (CC/DC) issued in india.
VMT for CC and DC for same account looks doubtful to me too. I think that is not needed either. You should be able to withdraw the amt. from the ATM straight away.
I am not sure if VMT is available offline as I have never tried it. You could possibly ask your bank about this.
Also, VMT has nothing to do with type of account (Savings/Current). The only requirement is a valid Visa Card.
Hope it helps.
Mangobyte says
[b]Good news for indian paypal users[/b]
Now you can add your Indian bank account to your PayPal account, so you can withdraw your money directly to your bank. It saves you time and gives
you faster access to your PayPal funds!
Plus, there is no charge to withdrawal amounts over INR 7000*. So, go ahead and add your bank account today!
Click here to learn how.
Paulo says
Hey amit, i’m from brazil.
and i’m having tons of problems with Xoom.
And i wanted to know
If you transfer the paypal funds to a debit card, will it show JUST ON THE CARD or will it go directly to the bank account this card is affiliated with ?
Thank you!
Abhishek Daga says
This is really awesome.. Paypal coming with new innovative ideas.. and one more advantage is we can spend on other things on net and we need not have to pay our CC bills as we can transfer online earnings to cards back from paypal…!!!
Amar says
Hey guys
i have a question
i am from India and have both debit and credit cards
is it possible that i pull up my paypal cash into my accounts?/
if yes then how .. and how much would they charge me for this service
BD says
Now paypal has stopped withdrawals to Indian accounts effecting 28 Jan 2010. Paypal is reversing the payments.
Paul says
Hello Amit,
I m from India.
I dont have the option of “withdraw funds to card” in my paypal account under the tab “withdraw”
I only have “winthdraw funds to bank acount” and “request for check”.
I have verified my Paypal account using an Entropay Virtual Visa card.
I want to transfer funds from PayPal to my Entropay card.
Please help me.