One of the ways of online payment gateway is the paypal system and a type of virtual wallet that will serves a millions of customer’s everyday in more than 190 countries and regions around the globe. Some of the common uses of paypal include sending money to the friends, family and the loved ones; receiving payments for work that has been completed; and buying and selling on ebay.
It is not necessary to have a debit or credit card to open a paypal account in India. You can add debit or credit card later after opening account. It is only required when you want to purchase something online. But it’s not necessary if you only want to receive money that you have earned online. If you want to receive money in the paypal account you only need to add your pan card number and the necessary bank account details. It also allows account owners to link a bank account, credit card, or debit card to the account so that he or she can buy and sell goods and services from many merchants and private sellers from around the world without exposing private financial information. It was founded in the year 1998, and since then, it has been the preferred method of payment for all eBay auctions and fixed priced listings. The following are the needs and the necessities and the guide to create a paypal account:
WHY YOU NEED A PAYPAL A/C
If you people are working online from india, the companies abroad cannot directly send money to your bank account. So with the help of the paypal they transfer the money to your account.
HOW TO USE PAYPAL
Once you have created your paypal a/c, if someone needs to send to the money, you just have to give them your paypal email. This email is the email which you used when creating your paypal account. It acts like an account number for PayPal.
OPENING YOUR NEW PAYPAL ACCOUNT
The very first thing which you will keep in mind before making the paypal account is that you should have these two things:
- Your pan card
- and a Bank account
FOLLOW THE STEPS BELOW TO OPEN A PAYPAL A/C
- First you have to create a new account by going to Paypal.com and clicking on the Sign Up For Free Button.
- Next, click the‘Get Started’ button for individuals.
- And just fill up the form.
Note: Enter your first and last name exactly as it appears on your PAN card. It should match to your name on your bank a/c.
Your paypal a/c is now ready!
Once you’ve created your new PayPal account, the very next step is to verify it, so that you can receive payments.
VERIFYING YOUR PAYPAL A/C
Follow the steps given below to verify your PayPal a/c.
1) ADD PAN CARD
Enter your PAN number and click submits to confirm.
2) VERIFY YOUR EMAIL
- Go back to the task board and select the next step to verify your Email.
- Open a new tab, and login to your email account.
- A PayPal confirmation mail will appear.
- Click on the activation link, enter your password, and choose your security questions and answers.
3) ENTER PURPOSE CODE
Go back to the task board.
- Click the ‘start’ button which is next to ‘Provide Purpose code’.
- Select the purpose code based on the nature of your work.
- If you’re earning through affiliate programs, choose advertising and market research.
- – Click saves.
4) ADD A BANK A/C
AGAIN, GO BACK TO THE TASK BOARD & THEN CLICK START
- Enter your bank a/c number.
- If you know your bank’s IFSC code, just enter it. Or Else, select No and enter your bank’s name & choose your branch.
- Click on review and submit.
After doing this, PayPal will make two small deposits to your bank a/c. So, wait for 3 days and then check your bank statement.
If you find that the amounts are credited to your bank a/c.
- Login to PayPal and under profile, click on “Edit Bank Account”.
- Now, enter the same values which were credited to your bank a/c.
- Click Confirm.
Congrats! You’ve now successfully linked your bank to your paypal a/c.
Your PayPal a/c is now verified.