As everyone knows, PayPal is the fast and secure money transfer service. Moreover, many of the online paying websites make payments through PayPal. The fee to receive payment is also very low. Unlike other countries for Indians, one has to get verified by PayPal to receive payments and also withdraw them.
Although, it is not a big task. But one should own two things in order to get verified.
1. Pan card-This a personal identification number given to an individual by the Indian government. It is a must to open a PayPal account and get verified. I hope almost all government andprivate sectors employees own a Pan card for paying Income tax. If one does not have it, can be obtained by applying online or at any Pan Card office. In addition, some agents can help to get Pan Card. For a fresh applicant the Income Tax department of India issues a new card within two weeks.
2. An Active bank account-To withdraw funds one need a personal bank account. Moreover, it is compulsory that the name in the bank account should be same as in the Pan Card to get verifiedsuccessfully. Failure, to do so will also result in fine of 250 INR.
First of all one should submit the 10-digit pan card number and it takes 2-3 business days to get verified. After the verification of the Pan card, the individual will be eligible to add the active bank account to the Paypal. To verify the bank account or link the account to PayPal account, there is a small procedure. PayPal will deposit two meager amounts to the bank account like 0.25 and .35 rupees within 2-3 days. After getting the amount in the bank, one should correctly submit both the exact amounts in PayPal verification page. Subsequently, the account will be verified and also the bank account will be linked to the PayPal account to withdraw the online payments.
Now, one will be eligible to receive online payments. According, to the Indian rules the money in the PayPal account will be auto withdrawn.