![]() Unlike a normal bank account, you do not have to pay any fees or charges for opening a PayPal account. One of the biggest advantages of opening a PayPal account is that is free. You can make any purchases or send money to family and friends in the U.S. If you are hesitant to provide your financial information every time you shop, that is not an issue. All your financial information is secure when you transfer money using a PayPal Account. It is an extremely safe platform for transaction. PayPal is a faster and simpler way to make recurring payments for your utility bills. You don’t have to pay anything to open a PayPal account. The key benefits of using a PayPal account are: PayPal is the faster and secure way of making payments online. It is not possible to directly use the funds in your PayPal account using a card. PayPal is simply a platform for fund transfer. The non-issuance of a PayPal debit card is also a limitation. You will have to use your existing debit card for transactions once the money from PayPal account is transferred. But remember that a separate PayPal debit card is not issued for account holders residing in India. You can then start making online purchases using debit cards. You need to transfer the money from the PayPal account to your savings account. This is in accordance to the restrictions set by the Reserve Bank of India (RBI).Īn Indian PayPal account holder, who receives money from another account, cannot use the remittance immediately to make any online purchases. Since PayPal is designed to facilitate international and cross border fund transfers, Indian customers cannot send or receive funds within India from customers who have PayPal accounts. SBI customers can open a PayPal account only after international usage is activated on their debit cards.Ī PayPal account has certain limitations: Since PayPal transactions are of international nature, this is an additional security feature provided by SBI. In case you have a SBI debit card, you must request your bank to activate international usage on their debit cards. You also must enter the purpose code (shopping, business, freelance). you need to provide your PAN card details, confirm you email ID and link the bank account you would be using to transfer money to your PayPal account. Step 7: After linking your debit card, you must complete your KYC compliance i.e. Step 6: You need to link your debit card by clicking on the "link card" tab. You will also have to enter your billing address Step 5: Next, you will be prompted to enter your debit card number, its expiry date and the CVV number mentioned on the flip side of the card. People who choose to have accounts as business persons or freelancers are simply required to enter their e-mail ID. You will be prompted to create a password to complete your Sign Up procedure. Step 4: If you choose the account as a shopper you will be redirected to a page where you provide your personal information such as your name and email address. Choose your type of account and proceed by clicking on the "next" tab. You need to choose whether you are opening the PayPal account as a shopper, a businessman or as a freelancer. Step 3: You will be redirected to a page where you select the type of account you would like to open. Step 2: Click on the "Sign Up" tab located on the top-right corner of the user interface screen. You can also download the PayPal mobile application from the Google Play Store or the Apple Store on your smartphone. ![]() Step 1: Visit the PayPal Home page by logging on to. You can your existing debit card to open your PayPal account: It is important to remember that you are not issued any separate PayPal debit card, if you are an account holder in India. Steps to open a PayPal account using debit card You are charged nominal transaction fees depending upon the payments made by you. A PayPal account can be opened free of charge. However, you need to check if the facility is provided by the online shopping website. It is also possible to use your PayPal account to make online payments. Once this is done, you can transfer the money to others. You can just register your bank account or debit card with your PayPal account. It also allows you to make purchases from international online stores, which includes eBay and Etsy. Simply use your PayPal account to transfer money to family and friends living abroad. ![]() PayPal is an international online payment system which allows you to send or request money online easily.
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