How to withdraw PayPal funding in your bank account?
In India, withdrawing PayPal's funds in your bank account is an easy and straightforward task. However, there is a lot of confusion between PayPal's transaction fees or conversion fees in India.
Together, many PayPal users also want to know how to calculate PayPal fees. In this post we have tried to answer all your related questions.
So let's start.
How much does PayPal charge for withdrawals in India?
If your monthly remittance is less than 3000 USD, PayPal will cut 4.4% for each transaction you deal with, plus 30 percent additionaly too.
This thing can seem very complicated to many people but it is all very easy. Even in our opinion, PayPal only takes 5% of all transactions from other countries, especially if your monthly sales income is less than $ 3000 as explained in detail below. In other words you get 95% of the amount.
Here is a simple calculation below that you should tell your customers how much you pay.
Suppose that you have a US client who has to give you $ 100.
You make up 6% of this whole amount. As it is here, 6% of $ 100 is $ 6
Ask your client to pay $ 100 + $ 6 = $ 106.
Of this, 5% of $ 106 i.e. will be deducted at $ 5.3.
The amount you get after the afterdrawl will be: $ 106 - $ 5.3 = $ 100.7
The calculation given above is correct only when your amount is less than $ 400- $ 500. Why?
Understand the following examples:
If your client owes you $ 500, you will have to ask him to send 6% of 500 dollars that means $ 30 to $ 530.
So in such a case, it would be great if the client let you direct online Wire transfer for which the bank will charge you only $ 20.
In such case, there are two benefits to wire transfer:
$ 10 of your client will be saved.
You will receive money on a good exchange rate.
When should you tell your client for wire transfer?
Suppose your client has to give you $ 800. So let's compare it to PayPal vs Wire Transfer.
Remittance via PayPal
You will ask the client: $ 848
PayPal fee: $ 4
You will get: $ 805,6
Popular Currency Rate: $ 1 = Rs 65
PayPal Currency Rate: $ 1 = Rs 63
The amount transferred to your bank A / C: $ 805,6 x 63 = Rs 50, 8
Remittances via wire transfer
You will ask the client: $ 800
Bank wire transfer fee: $ 20
You'll find: $ 800
Popular Currency Rate: $ 1 = Rs 65
The amount transferred to your bank A / C: $ 800 x 65 = Rs 52,000
How much you both will save?
You save: Rs. 52,000 - Rs. 50,752.8 = Rs. 1274.2
Your client will save: $ 42.4 - $ 20 = $ 22.4
Now you must have understood this well that PayPal charges each one for withdrawl. Now let us know how to withdraw this money into your bank account.
Log in to your PayPal dashboard and click on Withdraw Money option.
Click on the link to "Withdraw Funds to Your Bank Account"
Enter the amount of money you want to withdraw from your existing PayPal funds balance. If you have added multiple bank accounts in your PayPal account, then you have to choose which account you have to transfer money to. Choose the Urpso5 code. Then click on the Continue button.
Review the details of withdrawing funds in your bank account once. If the withdrawal is not successful due to incomplete information, then for each such withdrawal, PayPal also charges you the penality of 250 rupees. So first, check all the information once and then once satisfied, click on the submit button.
You will also get a message when you intiate the PayPal funds withdrawal process.
If you want to know the details of your withdrawal request, click on its link or click on the link directly to Go to My Account.
At the Funds withdrawal request, PayPal will show you all the details of the information as a table. The currency rate in PayPal and the currency rate in the market vary greatly.
If you go to My Account, you can see in your dashboard the status of your recent transactions and withdrawl.
Sure read:
How to create PayPal links / buttons for your website in India?
Top 6 PayPal alternatives for bloggers and freelancers
Tell me if you have any questions related to this post in your mind?
In order to show your happiness and eagerness towards our post, please share this post on Social Networks such as Facebook, Google+ and Twitter.
To get more such informational posts and to receive Notifications about new blog posts, please subscribe us.
Please comment below to ask any questions related to this blog post.
Together, many PayPal users also want to know how to calculate PayPal fees. In this post we have tried to answer all your related questions.
So let's start.
How much does PayPal charge for withdrawals in India?
If your monthly remittance is less than 3000 USD, PayPal will cut 4.4% for each transaction you deal with, plus 30 percent additionaly too.
This thing can seem very complicated to many people but it is all very easy. Even in our opinion, PayPal only takes 5% of all transactions from other countries, especially if your monthly sales income is less than $ 3000 as explained in detail below. In other words you get 95% of the amount.
Here is a simple calculation below that you should tell your customers how much you pay.
Suppose that you have a US client who has to give you $ 100.
You make up 6% of this whole amount. As it is here, 6% of $ 100 is $ 6
Ask your client to pay $ 100 + $ 6 = $ 106.
Of this, 5% of $ 106 i.e. will be deducted at $ 5.3.
The amount you get after the afterdrawl will be: $ 106 - $ 5.3 = $ 100.7
The calculation given above is correct only when your amount is less than $ 400- $ 500. Why?
Understand the following examples:
If your client owes you $ 500, you will have to ask him to send 6% of 500 dollars that means $ 30 to $ 530.
So in such a case, it would be great if the client let you direct online Wire transfer for which the bank will charge you only $ 20.
In such case, there are two benefits to wire transfer:
$ 10 of your client will be saved.
You will receive money on a good exchange rate.
When should you tell your client for wire transfer?
Suppose your client has to give you $ 800. So let's compare it to PayPal vs Wire Transfer.
Remittance via PayPal
You will ask the client: $ 848
PayPal fee: $ 4
You will get: $ 805,6
Popular Currency Rate: $ 1 = Rs 65
PayPal Currency Rate: $ 1 = Rs 63
The amount transferred to your bank A / C: $ 805,6 x 63 = Rs 50, 8
Remittances via wire transfer
You will ask the client: $ 800
Bank wire transfer fee: $ 20
You'll find: $ 800
Popular Currency Rate: $ 1 = Rs 65
The amount transferred to your bank A / C: $ 800 x 65 = Rs 52,000
How much you both will save?
You save: Rs. 52,000 - Rs. 50,752.8 = Rs. 1274.2
Your client will save: $ 42.4 - $ 20 = $ 22.4
Now you must have understood this well that PayPal charges each one for withdrawl. Now let us know how to withdraw this money into your bank account.
Log in to your PayPal dashboard and click on Withdraw Money option.
Click on the link to "Withdraw Funds to Your Bank Account"
Enter the amount of money you want to withdraw from your existing PayPal funds balance. If you have added multiple bank accounts in your PayPal account, then you have to choose which account you have to transfer money to. Choose the Urpso5 code. Then click on the Continue button.
Review the details of withdrawing funds in your bank account once. If the withdrawal is not successful due to incomplete information, then for each such withdrawal, PayPal also charges you the penality of 250 rupees. So first, check all the information once and then once satisfied, click on the submit button.
You will also get a message when you intiate the PayPal funds withdrawal process.
If you want to know the details of your withdrawal request, click on its link or click on the link directly to Go to My Account.
At the Funds withdrawal request, PayPal will show you all the details of the information as a table. The currency rate in PayPal and the currency rate in the market vary greatly.
If you go to My Account, you can see in your dashboard the status of your recent transactions and withdrawl.
Sure read:
How to create PayPal links / buttons for your website in India?
Top 6 PayPal alternatives for bloggers and freelancers
Tell me if you have any questions related to this post in your mind?
In order to show your happiness and eagerness towards our post, please share this post on Social Networks such as Facebook, Google+ and Twitter.
To get more such informational posts and to receive Notifications about new blog posts, please subscribe us.
Please comment below to ask any questions related to this blog post.
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