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I was pleasantly surprised this evening when I received an email from PayPal that said :

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!

Which means that I don’t have to wait for a month for PayPal to send me a check and then for me to encash it. This is one thing that I have been wanting PayPal to do for ages.

Those of you having bank accounts in State Bank of India, Bank of India, Canara Bank, Union Bank of India, HDFC Bank, ICICI Bank, ING VYSYA Bank, Axis Bank, Standard Chartered Bank, HSBC Bank and Citibank can opt for this feature to withdraw funds.

There are some things that you need to do before you can have your Bank receive payments from PayPal. First of all you need to have the details that you fill on the Bank Account information match your actual Bank Account info word by word or your payment won’t get through. Keep the Bank Account Number and IFSCI (Indian Financial System Code) handy before you add your Bank Account on this page.

I just have one more request to the PayPal team, and that would be to allow us to get verified by adding an Indian Bank Account. I am an unverified Paypal user, because I don’t have a credit card, so adding the Bank Account to get verified would be awesome for a lot of PayPal users all over India.

But even then, Many Thanks to PayPal for adding this new feature. More details on this program can be had from here.