PayPal is a convenient way to make and receive payments all over the internet world. PayPal is a secure way for online transactions that hides our original identity and credit card number from hackers for any kind of fraudulent activity. If you are not using PayPal that visit now and create an account for free.
Let’s come to the topic if you already have an account with PayPal than you can directly withdraw or transfer money to your bank account in India. But before doing this you have to make some setup to your account that it sends money into your bank account. First of all check that your bank is listed in the Bank directory of PayPal.
Below is the list of Indian Banks supported by PayPal:
Axis (UTI) Bank, Bank of India, Canara Bank, Citibank, HDFC Bank, HSBC, ICICI Bank, ING VYSYA Bank, State Bank of India, Standard Chartered Bank, and Union Bank of India, oriental Bank of Commerce.
1. Now Login to your Account using your Email and password
2. Click on My account than point mouse pointer at Profile
3. It opens a Popup Click on Add/Edit Bank Account and click Add (Shown in Below Picture).
4. Enter your Indian bank account information such as bank name, account number and NEFT IFSC code.
5. Follow the instructions on your screen to confirm your account.
Now Your Will asks that what NEFT IFSC code is. NEFT stands for National Electronic Funds Transfer which PayPal uses this system. And IFSC (The Indian Financial System Code) is an alpha-numeric code specifically designed to identify branches of banks in India. Normally it is always printed on your bank cheque books but I refer to contact your bank to know your NEFT IFSC code and get the correct code. These codes are also listed at RBI website here.