You can also use this facility to transfer funds to India, you need to have two accounts to do this. Legally you can have two paypal accounts, one personal and one business account. Please follow these steps.
- Create your paypal business (premier) account in Italy. Use your Italian credit card to verify your account.
- Create your paypal personal account in India. Use your Indian credit card to verify your account.
- Set EUR as a primary currency in both the accounts, so you do not loose currency conversion charges.
- Upload the funds to your account with TOP UP facility for free
- Transfer the funds to Indian account Instantly with paypal transfer
- Now withdraw your money to your Indian bank account, there is no charge if you withdraw more than 7000.00 INR.
The whole process could take one week, but you will have control over the exchange rate. Means you can upload the funds to paypal and transfer the money to India when the exchange rate is good.
I'm not sure, if I could do the same for paypal account in UK. I presume using the same idea, this should be possible. Whats your opinion. Thanks, Amit
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