Paypal India: – PayPal is used to transfer the money directly to the recipient’s account. This is an
Instant Money Transfer App. If you want to send the money to the person you must have a credit
or debit card linked to Paypal account. Clear all your doubts here on Sharehiss.
The time when you start your work online you need to have an account on Paypal. As this is the
mode to receive and send the payments. You may use the Debit and the Credit Cards to make
payments but what will you do to receive payment?? There are many sources to receive payments
The Paypal is the most secure way to transfer money from credit or debit card. As this is one of
the oldest and yes, the most trusted source to make payments and to receive payments. The users
of Paypal from the India or from the United States you will get the best service from Paypal in
receiving payments from overseas.
You may send the payments at the time you get access to the Paypal account. If you need to
receive the payments to your Paypal account, you need to link your bank account to the Paypal
Account. Once you link your account with the Paypal the money directly credited to your Bank
account. As the money credited to the bank so you may withdraw the money directly to the bank
as it removes your withdraw limit.
Some of the Funds Transfer that is provided by the PayPal are listed below: –
1. Instant Transfer: – The Instant means Immediate by this method you may transfer the amount
to the person whom you want. By this way, you may immediately credit the money to the
recipient account. To transfer the money, you must link or register the credit card or the debit
card to the Paypal Account. It is just like you are offering a cheque without exposing to the
others. It is the best method to transfer the money.
2. eCheck: – This is not an instant way to transfer the money to the recipient's account. Offering
an e-check is just like you writing a cheque from your account. By this method, the payment
approval may take three to five days to get cleared.
3. PayPal Balance: – If you have received money from a person or you have sold something on
any platform so you must have balance in your Paypal Account. The balance that is in your Paypal account can be used to make any purchase. In case you have no balance in your PayPal account you may make purchases from you debit or credit card that is linked to your Paypal account.
Few restrictions that are imposed on the Asian Countries (like India) you should know about it:
1. Paypal India users can store money in their Paypal account and can make payments or can
purchase goods and services. But now you can’t purchase goods from the money that is in your
As in 2010, RBI introduced the rule that the users can only withdraw money
from the Paypal account that is directly to the bank account. New rule told people that you are not
able to purchase anything from online.
For eg: If you have any relative that lives out of India so you may ask them to create an account in the Paypal and let you know that if they can purchase products using money that is in their Paypal India account.
2. You are not able to receive the payments from the PayPal users of India. If you are an Indian,
you can’t receive payment from the users that are of the same country India.
So, these are the restrictions that are imposed to the Indian users. Yes, it is not good for the users
of PayPal India but we cannot completely say that the reputed bank had made a wrong decision.
Benefits of PayPal
1. The first benefit of the PayPal is that you can make payments online without filling up your
card details to any other sites. As this is the most reliable part of the PayPal.
2. People who don’t have the credit cards can also make payments by linking their debit card to
3. Not only from the same country but also can receive payments from the overseas.
4. With the help of this app, you may send mass payments.
5. If you want to send the invoice so you may send that also through PayPal to your client.
Now if you want to create an account on the PayPal and you don’t know the steps. So don’t
worry here are the steps to register into PayPal India as in all the countries the steps are same to
Steps to Register into PayPal:
NOTE: – Before you start reading I recommend you to visit the paypal.com and one by one
implement the steps after reading that. It will get easier for you to create an account on PayPal.
1. First, you need to choose the option whether you want to purchase online from overseas or you
want to receive payments. It totally depends on you what you choose. As there are two options
one is for the individuals and other is for the business purpose.
2. After you have chosen the service on the next page you will see the option to link the credit
card or debit card to your PayPal account. You may enter the details of that cards at that time or
you can skip it to set it up for the later payments.
Remember that with the PayPal India account you can only send the payments or can receive the payments from the overseas. You can’t purchase online. But if you want to receive payments you must complete these four tasks: – You
need to enter your PAN Card number that is mandatory to fill, you need to confirm your e-mail at the time you sign-up to you will get the e-mail from the PayPal India you must click on the confirm.
3. After the third step, you need to enter the details of your bank account.
4. Now the last step is to select the purpose code.
Why is PAN Card required?
PAN Card is required to verify the person’s identity as you need to enter the name that is on your
PAN Card. If you are below the age and don’t have PAN Card so you can create the account on
your parent’s name. Underage is not able to create an account because to create an account you
need to enter the details of the PAN Card to identify the person’s identity.
The process to link your bank account to your PayPal account:
It takes two to three days in the link process as PayPal verify by sending two amounts and the
amounts you received you need to enter in the PayPal account. After you have entered the
amount your account will be activated and you can make payments. The steps are given below to
link your account with the PayPal you just need to fill up some of the sections such as:
- Fill up your name.
- After that fill up your bank account.
- At the last your IFSC code.
Now, what if you don’t know your IFSC code??? You may check it on your checkbook or you
may visit the nearest branch or can check online from your bank’s website.
What is Purpose code and why to choose that??
So, after all the steps you need to select the purpose code. This means that for which purpose you
need to receive payments. As if your motive is to receive the payments for the affiliate
commission and advertising so you need to choose the option that is ‘’Advertising and Market
Research’’. You may select whatever you want to select as per your motive.
Selecting a purpose code doesn’t mean that you can only receive payments related to the similar
purpose. At the time, you are withdrawing money from your bank account you may change the
options. As it took maximum five to seven days to credit the money to your bank account.
Is there is any difficulty in linking the credit and debit cards with PayPal India account?
No, you will never find the problem while you are linking the credit or debit cards with the
Paypal account. You may ADD or can edit old one or can remove the credit or debit card. By
linking your cards with your Paypal account you can make payments or can purchase online.