Paypal is a online payment processor which will help you for international currency transaction. You will receive money through Paypal or you can send money through Paypal in internet. Paypal will make your life easy.It is the faster and safer way to receive money from any country or sending money to any country on internet only through an email id without sharing your financial information.
If you are working online then you must need a Paypal account. First of all you will receive money from other countries in the form of e-currency and Paypal will send that money to your bank account or credit card through your own currency.
Its a free service. You can open number of accounts freely. But opening an account is not sufficient for receiving and sending payment. You must have to verify your account to remove the limitation.
Below are some requirements, to verify your Paypal account or remove the restriction of receiving and sending payments online.
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Once you add your IFSC CODE and bank account number in Paypal then it will deposits two small amount in your bank account to know whether your account is suitable for transaction. You just have to go to your bank after 4 or 6 days to check the exact amount which Paypal deposited in your account and then you can log in to Paypal and fill up the two amount to confirm your account. After that your Paypal limitation will be removed and you can easily receive money.
Below are some requirements, to verify your Paypal account or remove the restriction of receiving and sending payments online.
- 1 - Pancard (For Indian members)
- 2 - IFSC code
- 3 - Purpose code
- 4 - Either bank account or credit card
First of all you just create a personnel (Individual ) account in Paypal here. Fill up your accurate information like your date of birth, your exact name which is matched with pan-card and bank account. Next step add your pan-card number, purpose code, and either bank account or credit card number to verify your account.
Purpose code is something which you have to select management and business consultancy. Purpose code means what is your purpose for international transaction. It depends on you, to select the option for your purpose. You can select "business and management consultancy" .
If you are going to verified with bank account then they will ask IFSC code to your bank branch. To know what is the IFSC CODE of your branch, either you can ask your bank employee or just in google type what is IFSC CODE of the particular bank branch. Then you will get your IFSC code.
or just visit this website http://www.ifscswiftcodes.com/
Next you will get a image like below. just fill up your bank name, state, district and branch, then it will show your IFSC code.
Once you add your IFSC CODE and bank account number in Paypal then it will deposits two small amount in your bank account to know whether your account is suitable for transaction. You just have to go to your bank after 4 or 6 days to check the exact amount which Paypal deposited in your account and then you can log in to Paypal and fill up the two amount to confirm your account. After that your Paypal limitation will be removed and you can easily receive money.