Paypal recently announced a excellent feature from their side which was really helpful because this time this feature supported countries like india, where in you can withdraw funds directly from paypal to your Visa/Master Card Debit or Credit cards in 26 countries all over the world including Malaysia, India, Indonesia and the Philippines. You’ll need to be a verified PayPal member to use the new withdrawal feature.
Here are some basic FAQ’s regarding this service.
Q. Will every Visa® credit, debit or prepaid card work?
A. No. Eligibility to withdraw funds to a Visa® credit/debit card may vary based on the issuing banks guidelines and regulations.
Q. How do I determine if my Visa® credit, debit or prepaid card is eligible to withdraw funds?
A. If you already have a card with a Visa® logo added to your account, you’ll need to initiate a withdrawal to determine if your card is withdraw-eligible. Once you initiate a withdrawal, the status will show if it is eligible to withdraw funds.
Also, when you add a card, you can verify if the card is eligible to withdraw funds to by following these steps:
1.Click the ‘Profile’ tab on the Account Overview page.
2.In the Financial Information column, click ‘Credit Cards’.
3.The status will show if it is eligible.
Q. How long does it take to receive funds to my credit, debit, or prepaid card?
A. PayPal completes the transfer in 5-7 working days, but your Visa® card issuer’s policies may affect the processing time and could take longer.
Q. How much does it cost?
A. There is a withdrawal fee of US$5.00 (or local currency equivalent) per transaction. Currency conversion and return fees may also apply.
I instantly tried this service by withdrawing a amount of 500$ from my account and following are the screenshots for the same.