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- Withdrawing money thru foriegn transaction using paypal
arijit
Participant
hi
Suppose i have a client who lives in usa and sending money in USD in my paypal account . and if i want to withdraw the money from my local bank account in india for that is it necessary to inform local bank (branch) in advance for the reason of the transaction (means for business purpose or personal) ? And last thing can i withdraw that money from my savings account . in brief i just want to know the legal aspect(in india) of the paypal transaction thru personal savings account.
please help me asap
CharlesPandian
Keymaster
After validating your paypal account, you can directly transfer the money from your paypal account to some of (all?) the Indian bank accounts. But for validating your paypal account, you should have a valid credit card.