When you work as freelancer or you have a blog and you need to get money from out the country, you need to a better way to do that transaction. You can use your debit card or credit card to buy and make an international purchase, but to receive payment, you need service like PayPal. In this article, we will help you create and verify your PayPal account.
Nowadays PayPal has become a synonym of transferring money from overseas. Its one of the oldest and trusted services and it’s really easy to use. PayPal has been around since 1998 and even if it has many competitors now, its still the best option to receive money online. One of the main reason mostly for blogger will be, most advertising company is dealing with the PayPal in term of money transaction.
You can send money once you open your PayPal account, but first, you need to connect your credit card or debit card to your PayPal account. In order to receive money, you need to link your bank account to PayPal.
One thing you need to keep in mind is, if you are an Indian, then you can just receive the money. You cannot send money and cannot purchase goods online. You cannot even send money to another person in India.
Benefit of creating a PayPal account
- You can receive the payment from anywhere in the world. It’s more convenient and secure platform than any else.
- PayPal is free. One of the greatest payment platforms in the world is free. You just need to pay for the transaction which is a little fee. You don’t need to pay any annual fees.
- PayPal is known for its security, when you receive the money through PayPal, you are not exposing your credit card or debit card detail to anyone.
- You can send mass payment with PayPal
- You can generate invoice with PayPal
How to create and verify PayPal account?
First of all, you need to visit the PayPal website and sign up.
You will be on the next page where you will be asked to choose between business or personal. If you are just an individual, such as blogger or freelancer than chose personally.
Then on the next page, you will be asked for your personal information, such as email address and to create a password.
Next page will be for personal information, name, address and such detail.
On the next page, you will be asked to enter your credit card or debit card detail, you can skip this stage for now.
Now you need to complete 4 task which is listed below.
- Add pan card detail, in which you need to add your pan card
- Email confirmation. Open your email id and confirmed the PayPal account from
- Adding bank account, add the bank detail where you need to reactive the money.
- Add purpose code, select your purpose form a long list, for example, freelancer, business etc
Once you add the pan card and confirmed the email, you need to add a bank account.
How to add bank account with PayPal?
You need to enter
- Your name
- Bank account
- Your IFCS code (written on your checkbook or passbook, if you need to search online, just type in the branch name and IFSC code)
Once you enter those detail, PayPal will initiate the verification process.
PayPal will send two small deposits into your bank account, most of the time it will be around 1rs. Usually, it takes 24 hours to get it credited to your account. After that, you need to login to your PayPal account to confirm that payment.
How to add purpose code in PayPal account?
Purpose code is the just for the reason on why you are receiving this money, on which purpose. There is a long list and you need to choose from there. If you are a blogger and receive payment for your affiliate marketing than chose Advertising and market research.
Your PayPal account will automatically withdraw your money directly into your bank account every day.
In 2010, the government of India has imposed few rules on PayPal and that is why if you are Indian, you will only receive the payment from overseas. But now they have joined together with many big brands in India to accept payment via PayPal. There was a time when only two Indian bank accounts can be linked to the PayPal account, now its almost every single one. PayPal is really use full and with this guide you can create and verify your bank PayPal account quickly. You can also read about PayPal vs Payoneer: Which is a Better?