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Due to the RBI regulations, this facility is limited only to receiving funds, not to sending money abroad.

These have tie-ups with a number of banks, which act as agents for them. If, on the other hand, you are making a payment, you will not incur any fee or charge.Īnother quick way to transfer money is through global payment service providers, such as MoneyGram and Western Union. The person who sends you money will have to pay a nominal transaction fee as well as a currency conversion charge, which is usually 3-4% of the amount. You can withdraw the funds by either transferring them to your bank account or credit/debit card, or by requesting for a cheque. While you cannot use PayPal to make personal payments-you cannot transfer money to a friend or relative abroad-they can send you money. When the money is swiped from your card and credited to his account, he will receive a notification either via e-mail or phone. To transfer the money, you will need to give the name and e-mail ID of the payee. To tighten the online payment mechanism and track the flow of money, the RBI announced recently that all Indians who have an account with PayPal will also have to provide their Permanent Account Numbers and details of the bank account. You have to log on to the website,, and provide your name, e-mail ID, password, postal address, contact number and the debit/credit card number.

However, you can only transfer money from one PayPal account to another. If you want to buy something from a foreign website, an option that is better than the above two is PayPal, an online payment gateway.