What is PayPal?

PayPal is like an online bank & if you have a PayPal account, you can send or receive money instantly all over the world.

If you are earning money online, then most of the companies prefer to send your earnings in your PayPal or Payza account. PayPal is much preferred over Payza account.

And if you have an online business & you want to sell your products online, then you can easily receive payment from your customers who want to pay by credit card or their PayPal account.

You need to add a bank account in PayPal to verify your account & if you receive payment from anyone then with in 1-2 days your money will be transferred by PayPal to your bank account.

If you don’t have a bank account, still you can open a PayPal account but your PayPal account will be treated as unverified PayPal account until you don’t add bank details on it. Unverified bank account have certain limitation in sending and receiving money.

Indians:

To open PayPal account you need a PAN Card and a working email Id.

What if you don’t have-

1. A bank account:- then you can’t use PayPal or open a new bank account. OR you can use your father, mother or husband PAN card.
2. PAN card:- Then immediately apply for PAN card & you can get it in 1 month. OR you can use other’s PAN card but PayPal ask the bank details of the same person as PAN card.

Opening a PayPal account is FREE & your email ID is the your PayPal account.

There is no need of any type of debit or credit card to open PayPal account. You can add debit card or credit later after opening account, if you want to buy something online. But it’s not necessary if you only want to receive money that you have earned online.

PayPal is very secure so don’t worry about your money. It provides security through SSL (Secure socket layer). Your details transferred  over internet in encrypted form. It’s impossible for hacker to hack your account.

You need to remember your Email Id through which you are going to create PayPal account and Password.

Don’t share your password with anyone.

You can also transfer money from one PayPal account to another PayPal account.

Steps to create a PayPal account.

STEP 1: Visit this PayPal  link & click on Sign up as shown below- https://www.paypal.com/in/home