WILL YOUR MONEY SINK IN THE BANK? GOVERNMENT CLARIFIES, DO KNOW - How To India

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Sunday, December 10, 2017

WILL YOUR MONEY SINK IN THE BANK? GOVERNMENT CLARIFIES, DO KNOW

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Before I started my online journey, I never believed people can earn money online.
The main reason was,
I didn’t know how to get the cash in hand.
Then I came across PayPal.
Paypal helps you transfer the money you earn to your bank a/c in India.
In this post, I’ll show you how to create & verify your paypal a/c in India.
After following this guide you’ll be able to:
  • Create your new PayPal a/c
  • Link your Bank a/c to it
  • Verify your account for receiving payments

Why you need a paypal a/c?

If you work online from India, companies abroad cannot directly send money to your bank account.
So, they use PayPal.

How to use Paypal?

After you create your PayPal a/c, if someone needs to send you money, you just have to give them your PayPal email.
Your Paypal email is the email which you used when creating your paypal account.
It acts like an account number for PayPal.

What is PayPal?

Paypal is an online service used to transfer money worldwide.

Opening Your New PayPal Account :

First, make sure you have these two things:
  1. Your PAN card
  2. and a Bank account (which matches your name on the PAN card)
If you don’t have a PAN card, learn how to apply for a PAN card here. There is no age limit for PAN, so anyone can apply.

Follow the steps below to open a PayPal a/c :

  1. Create a new account by going to paypal.com and clicking on the sign up button.
  2. Next, click the ‘Get Started’ button for individuals.
  3. Fill up the form.
Note: Enter your first and last name exactly as it appears on your PAN card. Make sure it matches your name on your bank a/c. (If your bank account has only your initials, enter its full form in paypal.)
Your paypal a/c is now ready!
Once you’ve created your new paypal account, the 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 submit 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 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 save.

4) Add Bank A/C

Once again, go back to the task board & 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 2 to 3 days and then check your bank statement.
Once you find the amounts 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. From now on, all the money sent to your paypal account will automatically be credited to your bank a/c.
We hope this post helps you create and verify your PayPal account.
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