Originally Posted by rak007
I am a paypal user and have a US credit card linked to my paypal account. I don't keep any money in my paypal account as such and pay using my linked CC only. Now a friend of my in India wants to buy something over the net and it won't accept any Indian credit cards so i am going to make the payment on his behalf. He suggested me that he will transfer the required amount of $$ to my paypal account.
Now i know that i can use that money for my future purchases but can i retrieve that money and transfer to my US bank account ?
Yes, you can transfer money (in either direction) between your paypal account and your linked CC or linked bank account.
The catch is that there is a waiting period (up to 3 business days I think) during which your funds are not available to you: they have been taken from your paypal account and are "pending" and not yet into your linked account.
I believe paypal does these transfers through ACH which is a batch process and not immediate. Usually I've had transfers complete on the second business day but they can be shorter or longer. So always do it early in the week.