How to link PAN Card with PayPal Account
All individuals who are living in India can open PayPal account absolutely for free of cost. There are no charges being levied for opening a PayPal account. One can create an account via online through official website of a company.
How is the working of a PayPal?
PayPal works as an online bank and has gained acceptance throughout the globe. PayPal can be use in many situations. PayPal is used to make an online purchase from websites which do not accept payment mode such as Debit card or Credit card. PayPal also be used for transferring funds, especially for money earned online from websites which require to transfer the earned amount using PayPal.
Why it is essential to link PAN number in your PayPal?
You can open PayPal account without the provision of PAN information but cannot use that PayPal account in terms of sending or receiving funds in their PayPal account unless you provide PAN information along with the bank details requesting at the time of registration of PayPal account. Verification of details provided also done by the company before allowing to send or receive funds.
Process to link PayPal with PAN Card
- There is no need to link Credit card or Debit card to open a PayPal Account.
- Credit Card or Debit Card can be added to your PayPal Account after opening of the PayPal Account for the purpose of making any kind of sale and purchases.
- PayPal Can be linked to your PAN Card before you can conduct transactions through PayPal Account. Along with PAN details, bank details will also be provided, if you wish to make transactions through your PayPal account.
- It is essential to provide accurate information for creating PayPal Account. Details such as residential address, name, bank details that must be entered accurately as a failure to do, may create problems at the later stage.
- One must ensure that name you create in your PayPal Account must be matched with the name that appears on person’s PAN Card.
- Once you have provided the PAN Card details and bank account information, it is essential to ensure that email ID through which the PayPal account is created is noted / remembered as it will have to be used to login to your PayPal account.