April 24, 2017
PayPal account in India
How to open and verify PayPal account in India
If you start earning online, you need a mode of payment to receive & send money online. We use a Credit card or debit card to make payment but to receive payment from the international company we need to take help of services like Paypal, Payza, Google Wallet etc. Most of Online Companies pay with Paypal so it’s essential to open Paypal account.
As per RBI rule, Indian Paypal users can not store money in Paypal account. If you receive money from any international company it will go in your linked bank via Paypal within 3-4 working days.You can not use Paypal money for payment but we can make payment from our bank via Paypal.
Steps to open Paypal Account
1) Go to Paypal.com and click get started. On the next page, you have to select Personal Account. (We can change Business Account later if require )
2) Enter your Name & Email then click continue
3) Fill the Form (Name, Date of Birth, Address, Mobile No.) and Click Agree & Create Account
4) Link your Credit or Debit Card. We can link it later.
5) Now you have to confirm your email. Check email click on activation link & activate Paypal account.
6) Fill security questions carefully its help you in a case of Password recovery.
7) Add your Bank details like Bank Name, Account No., IFSC Code etc. Paypal will send you 2 small deposits in 3-4 days (eg.1.05 & 1.20). Check your bank statement and login Paypal account to confirm exact amount.
8) Add your PAN Card (Paypal & PAN Card name should be same)
Add PAN Card, Confirm Email, Add Bank Account and Purpose Code (eg. Advertising & Market research ) to create Verified Paypal Account
Link Credit/Debit Card: We can link any credit card to Paypal account but only selected banks debit card works with Paypal. As per my information Axis Bank, ICICI Bank, HDFC Bank & City bank debit cards can link with PayPal. I am using Indian Bank World Master Card (With Gold Chip) and its work fine to make payment via PayPal. If you don’t have a credit card you can create it on a certain amount of fixed deposit. Contact your bank for more information.