Monday, May 23, 2011

How to withdraw funds/money from Alertpay to a bank account in India

I have been searching for this solution for a long time. At last got this solution. This post explains about withdrawing funds from Alertpay through Bank Wire.
Withdraw through Bank Wire to a Bank Account in India.
A bank wire withdrawal is one of the methods of transferring your Alertpay funds to your bank.
Withdrawals by bank wire are processed within 3 - 6 business days (excluding weekends) of the request and are offered in the following currencies:•  US Dollars ($)•  Euro (€)•  GBP (£)Pleas
First your must first set up your bank account on AlertPay to perform transaction.
If you have not yet added your bank account, here are the steps:
1. Login to your AlertPay account.
2. Click on “Profile”.
3. Under “Financial”, click on “Bank Accounts”.
4. Select the country where your bank account is located and click on “Next”.
5. Select Bank Wire and click on “Next”.
6. Choose currency, enter bank details and click on “Next”.
7. Review details, accept any authorization requests and confirm

If you have already added your bank account for bank wire withdrawals, follow these steps to withdraw your funds:
1. Login to your AlertPay account.
2. Click on “Withdraw”.
3. Under “Electronic Funds”, select “Bank Wire”.
4. Enter amount to withdraw, transaction details and click on “Next”.
5. Review details and confirm.
I tried Bank Wire withdrawal to withdraw $59.87 USD to my bank account (ICICI Bank) in India. Alertpay deducted (charged) $15 (Fifteen dollars) as FEE for this transaction and deposited $44.87. But my local bank ICICI also charged me $5, then deposited the remaining $39.87 i.e. INR1,736.65 ($39.87) in my account. So, withdrawing Alertpay funds to a bank account in India is a very costly process. You should be ready to lose $20 of your withdrawal amount. e.g. If you request for a withdrawal of $100, you will get $80, after all these deductions. It took 6days to complete the whole process. I have requested withdrawal on 15th May, got paid on 20th May.
Hope this will help people who are searching for the details. Thanks for reading my post. please do share your experience in comments section, so that, it will be more helpful to my blog readers.

13 comments:

  1. Nice and informative I will take care when I withdraw fund but I have to ask you why dom't you transfer your money to paypal and then withdraw to india?

    ReplyDelete
  2. Hi Anonymous
    I tried to transfer my Alertpay funds to Paypal. But the exchangers are charging more for the transfer. like 7.5% per transfer..huge amount..am just searching for a better exchanger.

    ReplyDelete
  3. hey i want to ask how to give information line SWIFT BIC,bank code,branch code etc... i have and account in State bank of India... plz reply...

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  4. pls tell me what is bank code and branch code

    pls give me example of icici bank code n branch code

    ReplyDelete
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  10. Hello, i just have a doubt. Please reply. Is there any verífícation of payza account at the time of transfer . I am indian user and having personao accoun type.

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  11. Hello, i just have a doubt. Please reply. Is there any verífícation of payza account at the time of transfer . I am indian user and having personao accoun type.

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    Replies
    1. Yes, Mr. Ravi Teja, there is a verification process. Once you add your bank account, payza will deposit a very small amount in your bank a/c, and ask you to submit the code of that transaction...once it is submitted and cross verified by payza, your status will be shown as VERIFIED ACCOUNT. this will take few days to get verified.

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