Paypal India – A-Z steps on how to create paypal account in India
Are
you struggling to find a way to send or receive payments. Are you
looking for an alternative apart from credit and debit cards?
Then PayPal India is the solution. In this article i will teach you step-by-step how to create a PayPal account in India and the problems that you might face.
Its easy and simple to do, so follow along with me 
Table of Content for Quick Navigation
Paypal India - What is Paypal Account?
Founded in 1988 and headquartered in California, Paypal has been the most trusted and reliable way to send and receive payment worldwide.
I
personally have been using PayPal India for almost 5 years now for
sending and mostly receiving payments from my overseas customers (for my digital marketing services) and also receiving my affiliate commissions from various best affiliate network.
You
will find that most advertising companies, affiliate networks, clients
and mostly all of them are comfortable with PayPal payment and you can
find this payment option almost everywhere
Since
PayPal India is accepted everywhere, hence creating an account on
PayPal become even more desirable. If you are thinking of making money
online as a freelancer, blogger, affiliate marketing or any other way then having a paypal account is a must.
Advantages and Benefits of Using your Paypal India Account
I love PayPal and you will love it too, after you read about the benefits of creating a PayPal account
- The best part is being able to make payment without hampering your privacy. So if you are worried that your credit card details might be leaked for online payments, then Paypal account comes to the rescue
- I have already mentioned about the benefit of accepting payments from your affiliate networks, overseas clients and all
- Not everyone has a credit card and hence for people like my dad, who only uses a debit card, paypal account solves the problem
- If you are a freelancer or selling any service, then onvoicing becomes easier. Although you can also use an online service for this known as quickbooks.
Sending vs Receiving on Paypal India?
For sending money on Paypal, its easy. Just use your debit or credit card. To receive payments you will have to link your bank account with your paypal account.
Note:
Earlier it was possible to accumulate or store your money in your
PayPal India account and send money or buy goods online. But in 2010,
RBI came up with a law for Paypal
India, that you need to link your bank account in order to withdraw
money. Also, you cannot make purchases from the money you receive in
your PayPal account. This has been a big problem for me as now I get charged the conversion fees twice , as most of my clients and shopping are offshore.
Steps on How to create paypal account in India?
#1. Visit Paypal.com
The first step is to visit https://www.paypal.com/in/home and click on the "signup" button
When you click that, you will be asked to select between a personal or business account.
Note: If you are an affiliate marketer, blogger, freelancer then you need to select "Personal". Also you can upgrade to business anytime in the future from your paypal dashboard
Now after selecting your account type, you need to first create an account with your email-id and a password
Now
you need to add your personal details like Name, Address etc. Make sure
you use the correct name as the name will be matched with your bank
account for approval. After that you need to add your debit card or
credit card detail. You can skip it as well, but then you won't be able
to receive any payment.
If
you do not add your Debit or Credit card details, then your account
will be in Limited state. You won't be able to receive payment as that
requires verification. You need to do the following steps in order to
accept payments in PayPal India:
- Confirm the email by checking your email account and clicking on the verification link
- Add PAN Card of you : The name on the PAN card should be the same as the name you used to create the account. If you are not 18, then you can use the name of any of your parent to open the account
- Adding bank account - The bank account where you want the auto withdrawal to take place
- Adding purpose : You have to select one on which you are receiving the payments in your paypal india account
As you can see in the image above that you need to complete the steps in the red box in order to start using your account
#2. Adding Bank Account
To
add a bank account, you need to enter, Bank name and IFSC code. If you
don't know what IFSC code is and where to find it, then you can simple
google search your bank location with IFSC keyword, or you can check the
"check book", or just call the customer care
After
adding your bank account, PayPal India will make two small deposits in
your bank account. This is the part of verification.
You need to open PayPal India (after the deposits have been made, general time 24 hours) and click on verify.
There you have to mention the amount that was added to your bank
account. After adding that, your account will be confirmed and bank
account will be linked.
#3. Adding purpose code to your paypal india account
If
you are receiving payments for Affiliate commission like me then you
can select "Advertising and market research". Choose whichever once fits
you best.
#4. Adding Credit card/ Debit card with paypal india account
Adding your credit or debit card is easy. You can link any credit or debit card service.
Note:
I have faced this issue in the past. Some cards are not
international payment enabled, so for that you will have to call the
customer care of the respective bank to enable the
international transaction feature
I
don't think you will face any other issue on how to create a PayPal
account in India. I have covered the steps in great detail. If still you
feel i missed something, feel free to ask it in the comments section below, I will be happy to help.
Make money from Paypal Referral Program - Make $100
Yes, you can make this easy cash, but sadly this is only for US account hoslders
Earlier,
when they started they were offering $20 per SignUp and $20 for
referral, but since the competition has increased, PayPal doesn't want
to lose current as well as potential future customers
How does this referral system works?
When
you refer someone (a US account holder only) they will get $5 for
signing up. To get this $5 they will have to make a transaction in their
PayPal account within 14 days of signing up. By transaction, it means,
at least $5 must be marked as complete (this must not be cancelled,
refunded or reversed)
How to get paypal referral link?
1. Log into your PayPal mobile app
2. Click on settings
3.Click on Invite a friend
4. Share the invite or choose contacts to send invite
Note:
The maximum that you can make is $100 from referrals and all the
referrals must come from personal contacts and not from forums or quora etc
List of best Paypal Alternatives 2017- sites like paypal
Although I love PayPal as it is universally accepted, but there are many alternatives of PayPal are popping up as a competition
I have made a list of most popular alternatives for Paypal , check them out
S.no
|
Company name
|
Visit Site
|
|---|---|---|
1.
|
Payoneer
|
Visit Site
|
2.
|
TransferWise
|
Visit Site
|
3.
|
Skrill
|
Visit Site
|
4.
|
PayZa
|
Visit Site
|
Paypal Vs Payoneer ?
Pioneer
is not a new player, rather they have been in operation for long. They
have started their operations in Asian countries recently and hence
their name will definitely popup
The
best part about the Payoneer is the lowest transaction cost, and hence
if you are doing big amounts as transactions, you will end up saving a
lot of money
For
their promotional strategy they are also giving away $50 free if you
do $100 transaction in your new Payoneer account. Honestly, they have
been coming out as the biggest competitor to PayPal and hence shaking
online payment market a bit
Honestly
i love both of them. I will give a detailed difference between both of
them later, till then i will recommend you to sign up on both of them
and use it enjoy the benefits of both of these services
The misused Personal Payment trick
If you are coming back to PayPal after a few years, then you might face a setback.
Earlier
people were misusing a tactic, i.e. When you send a payment in the
name of personal payment you won't be charged a service charge. Now this
was being misused by people (even my clients were doing that earlier)
when they were sending me money as personal payment so they saved on the
service charge.
Unfortunatley Paypal found out about this and they have stopped allowing personal payment to be sent to or fro India.
Paypal Receiving Limit
Receiving
money through PayPal is so easy. But PayPal has been known to put many
restrictions, especially for Indian PayPal users
Many
PayPal India accounts have also been banned, PayPal is known to ban
accounts (but not randomly they just want quality PayPal India accounts)
Earlier, the amount of money you could receive on Paypal
was $500, but now it has been increased to $3000 per single
transaction. But make sure your account is verifies, PAN card has been
added, bank account has been linked.
How Paypal Works in India - Paypal Automatic Transfer/ withdrawal
Paypal
does not brings the best smile on indian paypal users. They have been
severe with their restrictions and the challenges they bombard indidna
PayPal users.
The
money you receive will automatically be withdrawn to your bank account.
You will have to link your bank account in order yo receive money in
PayPal India account. Also, you have no control over the automatic
transfer, as it happens automatically and the money, then reaches your
bank account with 5-7 days (that's the average it takes for my payments)
Also,
you cannot hold the money in your PayPal account or make online
purchases. If you are thinking of hooding your money in a PayPal account
for a better exchange rate than forget it.
If you have linked multiple bank account, then you can select which bank to do the auto withdrawal on.
One
good news is that the withdrawal has no limit and there will be no
charges for that. So even if you receive $5, it willautomactically be
withdrawn to your bank account
I
hope this article was helpful and now you will start using PayPal for
receiving money online. I have tried to be highly elaborate in
explaining how to create a PayPal account in India and I hope you liked
this article, if you did, please share this article on your social media
with your friends and spread the work. Cheers and see you later
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