Ladies and Gentlemen,

When I logged in to my PayPal account today, I found a small ad (yes! it was a paid ad!) showing "NEW! Withdraw money from your PayPal account directly to your Visa® credit or debit card" and this small ad redirected me to an eBay help page, wherein it said that you could now withdraw PayPal funds to 26 countries, including India, Indonesia, Malaysia, and Philippines, via Visa credit, debit or prepaid cards! All for a small fee of $5.

I didn’t believe it at first, but I checked it out, and yes, it was true. The complete list of countries -

Argentina, Brazil, Bulgaria, Chile, Cyprus, Estonia, Gibraltar, Iceland, India, Indonesia, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Philippines, Romania, San Marino, Slovakia, Slovenia, Turkey, United Arab Emirates, and Uruguay.

The minimum withdrawal amount is $10, the fees charged is $5. There is also a currency conversion fee of 3.9% + $0.30 USD (for Withdrawals below $3000. For viewing the complete list, go to PayPal Transaction Fees help page). It may take around 5-7 days for the transaction to go through.

That is, if you’re withdrawing $1000 USD -
First, $5 will be deducted as PayPal Withdrawal Fees.
Then 3.9% of the amount will be deducted as Currency Conversion fees. Thus $39 will be deducted. Yet another $ .30 will be deducted for the same reason. Thus $39.50 USD will be deducted as Currency Conversion fees.

You get $1000 - $5 - $ 39.5 = $955.5 USD credited in your account.

If withdrawn into your Credit Card, it will be displayed as credit (in negative) and its your choice when to use it against your credit payments. If withdrawn into your Debit card, it will be transferred to your bank account and you can use it using your Debit card, or withdraw it, even through an ATM! If withdrawn into a Prepaid card, you can use the money as you would have…

And how to Withdraw?

From http://pages.ebay.com.sg/sea/paypal/withdraw.html#1

Follow the 3 easy steps below to withdraw your funds from your PayPal balance to your Visa® credit, debit or prepaid card. Here’s how:

1.Log in to your account and click the ‘Withdraw’ tab.
2.Click ‘Transfer funds to your card’.
3.Fill in the required information and click ‘Continue’.

This truly is a boon for all us PayPal users from these countries, especially India. I hope this article was helpful. I’ve taken all information from the PayPal website, and eBay help pages. All images in this post were taken from the PayPal help pages and are copyrighted to PayPal.

For more information, visit -
1. Overview of withdrawal to Visa card feature (eBay help pages)
2. Currency conversion fees page
3. See all withdrawal options and general notes (PayPal help)

Cheers And enjoy PayPal!

Technorati Tags: paypal, withdraw funds, india, paypal india, paypal withdraw funds to india, paypal funds to india, malaysia, indonesia, philippines, visa card, credit card, debit card, prepaid card, paypal transfer to india, paypal money transfer india