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Introduction:
PayPal is a type of person-to-person payment service that allows anyone with an e-mail address to transfer funds electronically to someone else with an e-mail address.
PayPal is The world most used online payment service. serving both personal and business customers. Accepted in almost every online store, many online casinos, and other Internet-based companies.
Withdrawing money from your PayPal account to your bank in India is possible if you hold an account in HDFC Bank, ICICI Bank, ING VYSYA Bank, Axis Bank, Standard Chartered Bank, State Bank Of India, Bank Of India, Canara Bank, Union Bank of India, HSBC and Citibank India.
The Positive:
- Quick online transfers.
- Great solution for accepting credit cards on your online business.
- Free transfers for small amounts (personal account).
The Negative:
- Fees are charged from the reciever / seller.
- Personal accounts are subject to volume limits of $500 per month. If you receive more than that, you will need to upgrade to a Premier or Business account.
Payment methods (for sending money online):
- Visa, MasterCard, Discover and American Express
- Bank account. not available in all countries. the bank can charge for the transfer. Fees:
Withdrawal Fees:
Free for Rs.7,000.00 INR or more
Rs.50.00 INR for Rs.6,999.99 INR or less
Add funds to your PayPal account - free
Transaction Fees:
Receive payments funded by PayPal Balance - Free
fees for business (seller) accounts depends on monthly volume, country of buyer and more. please refer to PayPal website for more info.
Summary:
Great for small amounts and for merchants who need to accept credit cards.
Overall IndiaMoneyTransfer.info rating: [4] out of 5
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