While I was reading about, "Withdraw Paypal Funds to your Indian Bank Account" for which I had received an email from PayPal, I also remembered an email from another online money transfer company called "Xoom". A lot of people from India, who had money in their paypal would use Xoom to transfer it to India as check from the host of pickup locations that Xoom provides in India...
For their service, Xoom would earlier charge $10 or somewhere close to that. But soon after the announcement of paypal transferring money to Indian Banks, Xoom also started a fee-free service... They say its only for this Diwali season, but I think it'll be longer than that, atleast for paypal transfers!!
From Xoom's announcement:
Choose from any of the 3 options to make it convenient for them to receive the money:
- Deposit money to ANY bank in India
- Send money to any of our over 4,000 pickup locations across India
- Get it home delivered at no extra cost
PLUS: Fee FREE money transfers above $700 and enjoy a FREE 5 min phone-call with
Xoom is a nice service for transferring money to India... But with paypal making it free for amount more than Rs. 7000/-, I think most Xoom customers transferring money from paypal, would be using paypal's service rather than Xoom!!