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Linking EEFC bank account (USD) to paypal india

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bharath_gowda
Contributor
Posted on

Hi All,

We have a small business running and our clients will be paying us in USD.

Currently i am able to link my current account which is in INR to paypal india and i am thinking, as the money received in USD in our paypal account will be transferred to our bank account in INR everyday, we will be loosing a lot due to currency conversions and when we have to pay our clients/service providers we will have to pay in USD, and again we loose money while currency conversions.

 

my question is there is a provision to open EEFC account in India with USD currency, and we can provide the routing number and account number so that paypal can send money received to our USD account without any currency conversions.

 

i could not see any options/ online resources which explains on how to link our EEFC USD account in paypal india.

 

any help or pointers for linking EEFC account would be much appreciated.

4 REPLIES 4

Linking EEFC bank account (USD) to paypal india

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BeautifulJ
Contributor

Hi Bharath, @bharath_gowda 

 

I Too have the same question , 

 

Have an EEFC Account with my bank and i need the funds to be deposited in USD instead of INR , So that i can utilise the USD from Bank account as and when needed(there is a 30 days limit by the RBI)

 

Did you get any solution about it? If yes then let the other members of the community too know the steps so that they can also make use of EEFC account .

 

Awaiting your reply,

 

Thanks in Advance.

Jinil.

Linking EEFC bank account (USD) to paypal india

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HostNamaste
Contributor

I am also looking for the same solution. I would like to withdraw USD into my EEFC USD Bank account. 

 

@PayPal please look into this issue and help us out asap. 

 

 

Linking EEFC bank account (USD) to paypal india

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HostNamaste
Contributor

I've contacted the PayPal and they have said the following, which means there is on solution from there as of now:

 

--- I understand you would like to add EEFC account to withdraw funds in foreign currency. I apologize we do not have an option to add this account. As we have Indian PayPal account and Indian banks linked for which any currency payments you receive in your account will be automatically withdrawn in INR. --- 
 

Linking EEFC bank account (USD) to paypal india

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jankihariani
Contributor

Hey, did you figure out any way around this? Can we open EEFC account?

 

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