How to use PayPal in India?
PayPal is famous for receiving and making payments. All businesses use PayPal for international financial transactions. However, PayPal is not very famous in India.
As it is not very popular in India, there is not much information available about how to open a PayPal Account in India. This article will help you understand how to make a PayPal Account in India.
Types of PayPal Accounts:
There are two types of PayPal accounts:
Individual Account – It can be used to do shopping purposes only. You cannot receive or make payments to an individual using this account.
Business Account – This is the type of Account used to receive and make payments.
How to make a PayPal Account:
How to make PayPal Individual Account
- Go to PayPal’s official website and click on the Signup button.
- Choose an Individual account.
- Enter your Indian mobile number and OTP sent to your phone.
- Enter your email id and create a password.
- After that confirm your email by the link which will be sent to you by PayPal.
- Now your PayPal account is almost ready, you just need to link your credit card or debit card.
- You will also need to verify your credit or debit card, for this purpose OTP will be sent to your phone number which is registered to your card. (Make sure you have access to that number or change the registered mobile number of your card)
- You will be able to do shopping with the help of your PayPal account now.
How to make PayPal Business Account
- Go to PayPal’s official website and click on the Signup button.
- Choose Business Account
- Fill in all the required business details (It is about the nature of your business, your industry code e.t.c, if you have any doubt about it, all the information is available on the internet.
- Fill in your PAN Card number, and make sure that your bank account number has the same PAN Card number which you are putting in this form. (If you don’t have a PAN card, check out our other article where we have described how you can apply for PAN Card very easily)
- Fill out any other necessary detail they ask for in the form
- Now the most important step remains, which is Bank Account Verification (Without this you will not be able to receive any payment through PayPal, so it is very important to make sure you do everything right)
- Verification is a little bit different for Business Accounts when compared to Individual accounts.
- They will send two small deposits to your bank account amounting to 1.01 to 1.50 Rupees, this process will take place in 4-5 days. Once you receive these deposits in your bank account you will have to put this value in your PayPal Account and your account will be verified, you will be able to use PayPal.
PayPal is a must for freelancers because most international clients and companies send money through PayPal only, and it would be frustrating if you could give them your PayPal mail ID.
