Doubts about paypal!!!

You are in India, so there are restrictions which may not apply to others. The best answers will be found in PayPal's documentation and Help pages on the site for India. Because of restrictions imposed by the RBI, PayPal have had to impose special rules. The most important of these is that all PayPal balances are automatically transferred to a bank account within 7 days of receipt. Theoretically, all Indiam PayPal accounts ought to be verified (though many are not, of course) - I'm sure that is what the RBI would like! This may mean that you will be severely limited in using your PayPal balance anywhere on the Internet. The only solution is to open your own bank account (and you will need a PAN number to do that, I believe: http://incometaxindia.gov.in/Archive/Form49aE.PDF ).

oh its all a matter of security eh? hey will my paypal acc get deleted if i dont verify it? and is there any alternatives other than linkin bank acc?

LOL! PLEASE don't call me American! I'm British as they come!

Hi mike, buoyancy is actually right in this case. It is the Paypal rule in India. One needs a credit card linked to Paypal account in order to use Paypal for purchase. Bank account is necessary for auto-withdrawal. So, for Indian, Paypal is just a means of payment, not Internet wallet that it is in other countries. We cannot use Paypal balance, or our bank account for purchasing. Paypal balance is automatically withdrawn to our bank account after 7 days of receiving payment. The only upside, we don't pay withdrawal fee, ever....even if it is just $1 or so.

But buoyancy here whose replied above said i cannot buy stuffs even if i have money. you sure bout it?

Lol but hes a very good friend..:) oh.. do you think those rules can by any chance be the same here too?

Only two reasons I see are folowing: - By adding and confirming your bank can make you verified - Credit cards are meant to confirmed mail address. - By adding those also, will prevent hacker to enter same account numbers Most merdchands prefer shipping to a confirm address however, as I previously said, if you don't have credit card, merchands may allow purchase through your PP balance if pay via bank through paypal (it might take weeks to clear) By paying via credit via paypal is quicker. Does this help? You might contacting paypal support for details!

Yeah your answer was crystal clear. i understood everythin. i hope people other than me benefitted by this discussion..cheers

so there is no way i can buy stuff without providing any of these details. cool. why do they want these details anyway..?

From India, no. You need to link your bank account in order to make auto-withdrawal (new Paypal rule). And you need a credit card to purchase things from the internet. Even if you linked your bank account, you will not be able to use it to make a purchase. Regarding the category, you don't have to worry about it. There is no rules or guidance in myLot that says one has to put everything in the right category. The categories are made up by us - users. So wherever you want to put it is fine. As long as it is appropriate. As mike mentioned, Paypal is internet payment gateway, so it is fine in the internet section as well. Happy Lotting.

Kaleb, the thing is, PayPal doesn't want to get into a mess if you do not have enough funds in your PayPal account. Once you have linked your bank account to it, they will deduct the balance from there if there aren't enough funds. So it is necessary. Also, so many people are misinformed about the auto-withdrawl thing, I haven't enabled it, and it's going fine. I suggested he put the discussion in PayPal so he would get more and better responses. Just a suggestion. . .

Oh sorry. i dont have it in my list. so i cannot buy a thing from online? nothing? not even a game? any possible way to do it without bank acc?

I don't think you can Flux. He wants to know about PayPal and not about credit cards. Read it carefully.

So even if i dont have a credit card linked to it i can buy stuffs like games from online? and what is the limit?

Yeah :) i thought of a category to start this. i didnt have paypal in my list. so i thought internet would be the second best option.:)

look above. and no need to thank me . this is wht mylot is for. gettin answers to the questions we always wanted to ask . cheers!

am glad i could help bobo. i had a hard time gettin a proper idea bout paypal. all thanks to mylot...love you mylottt..!

Never thanked you :p , saying thanks is a guideline violation. Your post has cleared my doubt , very well good day :)

Well I guess owlwings down there have the complete answer to this!

people wont accept money frm unverifies acc? damn. can i buy from ebay with my unverified acc? wil they permit?

I so like it here. and i haven got my first payout yet. hope my money goes safely to my paypal. have fun cheers!

can you tell me wht the limit is? are you sure? because bouyancy above told its not possible. i want to buy a game.i dun have bank acc linked

So how are you gonna access yo money? via bank? i dunno . look above . some very useful cmmnts are up there..cheers!

I thought they sent checks. OK, I'm ignorant about this part. This is the first paypal account for me. I'm going to have to read more into it. I'll read the comments above. Thank you.