Need help about paypal India
By phoenix89
@phoenix89 (385)
India
January 24, 2012 12:18pm CST
Hi I currently dont have a paypal account currently. I want to open one. After reading there guideline I have understood almost everything but I have a small doubt about which I need help.
My question is after creating an account with Pan card and submitting my bank account number will I be able to cash out through paypal and transfer it to my bank account or I must have to verify my account to transfer my balance?
2 responses
@owlwings (43910)
• Cambridge, England
24 Jan 12
Yes, you have to verify your PayPal account in order to withdraw earnings from PayPal. In India the only option currently is to "auto withdraw". PayPal have waived any charges they would normally make for withdrawing to a bank account.
@venkataraman_vc (5293)
• Chennai, India
25 Jan 12
I really don't understand how they execute the 'auto withdraw' option. I had money in my paypal account for months together, while others' money was automatically sent to their bank. (Probably the reason may be my account is 5 years old. Others' might be new.)
@phoenix89 (385)
• India
25 Jan 12
But they says in terms that you have to verify your account to end maximum transaction restriction to your account. Then why is this rule that I have to verify my account even if I have to transfer my balance to bank account?
@jeetnrimi (26)
• India
24 Jan 12
Hey, phoenix89,
To receive money you must be a verified paypal account.
After submitting your bank account no. and PAN no. paypal verify it. they credit two small amounts in your bank ac. you should check your bank statement and put the amount in paypal account. once your bank account verify, you can transfer your money from paypal to bank account.
@phoenix89 (385)
• India
25 Jan 12
But how will they credit in my account if I have no money in paypal account? Can I check my balance from ATM or I have to go to my bank to check the account?
