What is PayPal and How to Create PayPal Account

Nowadays, whenever you buy goods online, there is also about PayPal in the option of payment. And at the same time if you want to earn money online. Then you must definitely know about what is PayPal ?

So I gave all the information related to PayPal in this post, must read it as if

What is PayPal
How to create an account on PayPal
How to transfer money from PayPal to bank
How to use PayPal.

For your convenience, I have tried to give all kinds of information in one post. So if you like this information, then you will definitely share it with your friends. So that the people of our country can move forward in technology and confront China with technology Could give.

What is PayPal

PayPal is an online payment company whose job is to successfully send or receive a payment transaction. But now this company has become very large and a lot can be done with PayPal.

Friends, you must also buy something online like how do you pay money, if you buy something online from amazon or Flipkart ?

You pay the money through a payment gateway with the help of your ATM card, debit card or any payment option. And the money is transferred from your bank account to another bank account, the work of transferring some payment. The Gateway Company does. Similarly, PayPal is also a payment gateway, with the help of which any person can sell goods online very easily or any person can buy something by paying very easily.

The biggest feature is that it keeps the 100% payment transaction safe and also guarantees it. It has very special features like: –

  • If you are buying any goods online and if you make payment through PayPal. Then your money and your bank details or ATM details will be more secure.
  • Suppose if you are buying anything online from someone and have purchased with the help of PayPal payment gateway. But the person who bought it has cheated you, then you can complain to PayPal. PayPal will refund your money back to you, but only then when you will provide correct information.
  • If someone does wrong activity through PayPal then immediately PayPal removes him from his platform as it is very strict in this case.

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Founder of PayPal

You must have heard the name of Elon Musk. Who is very famous due to SpaceX and TESLA, he is also one of its founders.

Elon Musk PayPal Founder

PayPal Account Type

Two types of accounts can be opened on PayPal: –

  • Individual Account
  • Business Account
What is PayPal and How to Create PayPal Account

Individual Account

With this kind of account, you can pay only like if your account stays on Paytm. Then whenever the Paytm payment is made through the gateway. All the records are available so that if there is any problem then it will be proof in the same way. Therefore, whenever you have to pay, if you have a personal account, then you can easily pay. And also easily create PayPal account.

Business Account

If you open a PayPal business account. In such a situation, You can pay money as well as collect payments. Meaning that you can both pay, send and receive. If you are a freelancer or seller or have a business, then this business account is best for you.

I have my own PayPal Business Account because, if I want to sell any digital product in any corner all over the world. Then I will be able to make it very easily as well as deposit the payment directly into my INR Indian Rupees in a bank account.

Friends, there is a lot of payment gateway which works only in your India but not in other country. But PayPal works all over the world, so it will be very easy to pay and receive payments. If I give my example, when I wanted to buy a good plugin for my blog from the website of US or another country. Then I had to pay only in dollars but how would I pay in dollars? Because I did not even have such a card, so I chose the option of PayPal over there and very easily. I bought the plugin by paying through my bank through PayPal.

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How to Create PayPal Account

How to create a PayPal account in India

  • First you go to paypal.com
  • After this you click on the Sign Up button.
  • Now you will have the option of two types of account.
  • The first option will be Individual Account and second option will be Business Account.
  • If there is a personal account, then you will ask for a mobile number.
  • If there is a business account. Then some questions will have to be answered such as where you are going to take the payment. That means how much can your monthly sales be after that from a website or email or from a marketplace and at the same time you pay INR or Want to accept in other currency, all this information has to be given.
  • After this you have to register your email ID and this email ID will be your PayPal Email ID.
  • After this, you will have to set the login password and verify the mobile number and after that the bank account which is linked will also have to be verified.

Create Business Account on PayPal

If you have setup your business account. Then before you can receive money from your bank customer in your PayPal account or bank account, you will have to verify your PayPal business account and for that you have to follow some steps.

First you have to verify the email ID and for that, the email ID from which you have created your PayPal Account. Go to the inbox of the same email and see if there will be a verification email
After this, you have to give your Identity Proof because according to the rules of Indian Government it is necessary to have KYC for all financial activities, if you do not know about KYC, then read here what is KYC.
After this, link the bank account
Verify bank account

In this way you can activate your business account by verifying that let’s go to its details.

What is PayPal and How to Create PayPal Account

PayPal KYC

PayPal fully verifies the seller or business account to secure all transactions and KYC is necessary for this and for PayPal KYC you can link such document.

First is that by linking the PAN number
Verify another email ID, which I have already told about
Linking local bank account
After this, you have to enter the purpose code in the last. What kind of money you will receive, and this has to be done not only online but also offline, because if you receive money from FOREX, then you have to submit FORM 2. It is to be told that the money you are receiving is for what reason it has come. Similarly in the PayPal you also have to select Purpose Code.

Verify PayPal Account

When PayPal will ask you to link a bank account so that you can receive any money on PayPal ID directly withdrawal in the bank, then for that you must first add bank details such as bank account and its IFSC code.

After this, PayPal will do 2 transactions in your bank account, the record of which will be in your bank statement or print in the passbook and you will have to verify that transaction by entering it.

Earn Money from PayPal

Friends, PayPal does not pay any money from itself, rather you can earn money from PayPal by selling a product or service, often people who are not aware that they earn money from PayPal because when they hear that someone If you have transferred money from PayPal to your bank account then they think that how to earn from PayPal.

While the truth is that PayPal is just a payment gateway company, if I give an example, then understand that on my other affiliate, I show the ad of different ad network which is not in India, so in order to receive payment there. There is an option of PayPal ID, so I provide my PayPal ID, thus money is transferred directly from my PayPal account to my bank account.

PayPal Auto Withdrawal India

Friends, a good thing is that as before, now you do not have to apply every time to withdraw money in the bank account, because now according to the rules of our Indian government, PayPal will pay on daily basis as soon as any money is received on PayPal ID. And will transfer in the bank account which is linked.

If more than one bank account is linked in your PayPal account, then you can go to Settings and set Automatic Withdrawal so that it will go to the same bank account.

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