Paypal:- Info needed.

Gill · 28th August 2008, 23:49

Plz share your experience on using paypal as mode of payment.I am total dumb in this aspect.
Plz share do's and don't.

https://www.paypal.com/us/cgi-bin/we...y-fees-outside
In it there is a clause of multiple currency transaction which is charged to buyer.Is it so.or i got it wrong.
I might be using Paypal for first time in my life,your help shall be appreciated!

Cheers!

Note from the Team-BHP Support Staff : Slang and SMS Language are STRICTLY prohibited on Team-BHP. Please type in full and proper English for the benefit of other community members.

Please take the time to use proper punctuation as per Team-BHP rules. Thanks.

Gill · 29th August 2008, 00:20

While registering for PAYPAL account,even after selecting India as resident country,the primary currency option doesn't shows INR,
US dollar is the option with some other currencies.
what to do about it.which currency should i select.

HotChillyPepper · 29th August 2008, 00:35

Quote:

Originally Posted by Gill

While registering for PAYPAL account,even after selecting India as resident country,the primary currency option doesn't shows INR,
US dollar is the option with some other currencies.
what to do about it.which currency should i select.

I think its wise to go with USD since most of the cards will be accepted for USD sales. First you will have to create a Paypal
account and add a Credit card to your this account. Then they will charge you 1.95 USD on your card and send you a 4 digit number in the transaction details within 2 days time. You will have to check the CC transaction advise online / next bill for the 4 digit pin.So if you want the transaction within few days add a card with Online account so that you will not have to wait till your next bill to arrive. Once you have this PIN, go back to your paypal account and get your card authorized by entering it, so that you can avail the full credit of your card. The 1.95USD deducted from your card is a one time fee and will be added to your paypal account as soon as you enter the PIN ,and you can use that amount for purchases. Hope I didnt confuse you much.

Gill · 29th August 2008, 00:44

So that means i have to pay 2.95% as currency conversion charges to Paypal,
Secondly,is it possible to get a paypal account without a credit card?I mean is there any other way around...just fo info sake.

aah78 · 29th August 2008, 03:15

Quote:

Originally Posted by Gill

So that means i have to pay 2.95% as currency conversion charges to Paypal,
Secondly,is it possible to get a paypal account without a credit card?I mean is there any other way around...just fo info sake.

To answer your first question, yes, they'll take their cut but where'd you come up with the 2.95% figure?

You can use your bank account instead of a credit card.

Go through their Help section - it's pretty straight forward and will answer most of your basic queries.

Amien · 29th August 2008, 06:09

Quote:

Originally Posted by Gill

While registering for PAYPAL account,even after selecting India as resident country,the primary currency option doesn't shows INR,
US dollar is the option with some other currencies.
what to do about it.which currency should i select.

Actually, when you make a purchase it shows you the value in INR as per latest exchange rate.
@topicstarter
the amount they charge as transaction and processing fees is about 1% of the value. I recently bought an item worth Rs 440, which will show up on my CC statement as 450 or so.Regardless, the info is not much and clearly given when you are about to make a transfer through pay-pal. You also get a confirmation email from them after you've made the purchase.

s0uljah · 29th August 2008, 10:08

Gill Sirji, basically it is a verification process. Some ebay sellers will ship ONLY to paypal verified address (which means your CC billing address)

You provide them your details and credit card. You instantly get a 100$ US limit. That limit gets lifted once you feed in the verification code that will appear on your CC statement against a 1.95$ charge (which is refunded I think).

Indian bank accounts cannot be link to your paypal account. Im not sure what that 2.95% is that you mentioned.

Gill · 29th August 2008, 17:45

I think 2.95% is levied on merchants not buyers,my mistake!

BaCkSeAtDrIVeR · 29th August 2008, 19:36

You need bank account details and your bank's branch code (NOT the micr code) used in some electronic transaction. The exact name is used on paypal itself. You can ask your bank for that code, or use google to find the code. I used google.

My bank had given me a visa electron card, so was unable to use that card number - so used the bank branch / code combination. Once the money was credited into my a/c, simply used the card to withdraw.

mithun · 8th September 2008, 17:34

My friend wants to send money from Canada through Paypal to me. I'm having a HDFC Savings a/c.

Please help.

hydrashok · 8th September 2008, 21:58

Quote:

Originally Posted by s0uljah

...Indian bank accounts cannot be link to your paypal account...

Quote:

Originally Posted by mithun

My friend wants to send money from Canada through Paypal to me. I'm having a HDFC Savings a/c.

Actually now we can withdraw funds form PayPal to accounts in quite a few Indian Banks, or to your VISA credit card.

Withdrawals to a bank account are not charged, if you withdraw more than Rs.7000.00 at a time. If you withdraw less, you are charged Rs.50.00 per withdrawal. There are also minimum-withdrawal requirements, like for eg. if your account is setup for USD, you have to withdraw a minimum of USD10$ at a time. Now withdrawals can be made to all banks under the NEFT network (you need the IFSC code of the bank branch & your bank account number for that).

Withdrawals to your Credit Card are charged USD5$ per withdrawal (regardless of the amount).

@Mithun, check the link above and check if your bank branch is in the NEFT network. Your bank manager should be able to help you with details too. Your friend will need to enter the Bank Name, the IFSC code of your bank branch and your account number through his PayPal account.
The thing that I'm not sure of, is whether your friend will be able to send the funds to your bank account. The option that PayPal gives is meant for withdrawal funds of from the holder's PayPal account to his own Bank Account. But then he can send the funds to your PayPal account, and you can withdraw funds yourself.

I just use our PayPal account to accept payments that my regular payment gateway can't/won't handle. The volume is pretty less, and the funds are withdrawn to our official VISA credit card. I haven't yet tried withdrawing funds to our bank account yet.

JustStarted · 8th September 2008, 22:32

although no transaction/transfer fee but paypal will charge conversion fee (CAD to INR), around 2.5%

Samurai · 8th September 2008, 22:48

If I have to pay somebody who accepts money via paypal, do I need a paypal account? Can't I just use my credit card to pay somebody who has paypal?

JustStarted · 8th September 2008, 22:53

Actually you can, no need to have paypal account to pay.

pranavt · 9th September 2008, 00:26

One small warning to all of you though. Make sure to not keep a lot of money in your Paypal accounts. Paypal has been known to freeze random people's accounts without any warning, and no reason is given either. When I used to work for a US website, their business account was frozen for a month, inconveniencing us all when we were to get paid or needed money to spend on researching/buying stuff.

28th August 2008, 23:49	#1
Gill BHPian Join Date: Aug 2007 Location: Mohali Posts: 701 Thanked: 16 Times	Paypal:- Info needed. Plz share your experience on using paypal as mode of payment.I am total dumb in this aspect. Plz share do's and don't. https://www.paypal.com/us/cgi-bin/we...y-fees-outside In it there is a clause of multiple currency transaction which is charged to buyer.Is it so.or i got it wrong. I might be using Paypal for first time in my life,your help shall be appreciated! Cheers! Note from the Team-BHP Support Staff : Slang and SMS Language are STRICTLY prohibited on Team-BHP. Please type in full and proper English for the benefit of other community members. Please take the time to use proper punctuation as per Team-BHP rules. Thanks. Last edited by aah78 : 29th August 2008 at 03:07. Reason: See note.
	() Thanks

29th August 2008, 00:20	#2
Gill BHPian Join Date: Aug 2007 Location: Mohali Posts: 701 Thanked: 16 Times	While registering for PAYPAL account,even after selecting India as resident country,the primary currency option doesn't shows INR, US dollar is the option with some other currencies. what to do about it.which currency should i select.
	() Thanks

29th August 2008, 00:44	#4
Gill BHPian Join Date: Aug 2007 Location: Mohali Posts: 701 Thanked: 16 Times	So that means i have to pay 2.95% as currency conversion charges to Paypal, Secondly,is it possible to get a paypal account without a credit card?I mean is there any other way around...just fo info sake.
	() Thanks

29th August 2008, 10:08	#7
s0uljah Senior - BHPian Join Date: Feb 2006 Location: BLR Posts: 2,222 Thanked: 26 Times View My Garage	Gill Sirji, basically it is a verification process. Some ebay sellers will ship ONLY to paypal verified address (which means your CC billing address) You provide them your details and credit card. You instantly get a 100$ US limit. That limit gets lifted once you feed in the verification code that will appear on your CC statement against a 1.95$ charge (which is refunded I think). Indian bank accounts cannot be link to your paypal account. Im not sure what that 2.95% is that you mentioned.
	() Thanks

29th August 2008, 17:45	#8
Gill BHPian Join Date: Aug 2007 Location: Mohali Posts: 701 Thanked: 16 Times	I think 2.95% is levied on merchants not buyers,my mistake!
	() Thanks

29th August 2008, 19:36	#9
BaCkSeAtDrIVeR BANNED Join Date: Jun 2007 Location: Kochi Posts: 2,522 Thanked: 752 Times	You need bank account details and your bank's branch code (NOT the micr code) used in some electronic transaction. The exact name is used on paypal itself. You can ask your bank for that code, or use google to find the code. I used google. My bank had given me a visa electron card, so was unable to use that card number - so used the bank branch / code combination. Once the money was credited into my a/c, simply used the card to withdraw.
	() Thanks

8th September 2008, 17:34	#10
mithun BANNED Join Date: Jan 2006 Location: Cochin Posts: 2,195 Thanked: 268 Times	My friend wants to send money from Canada through Paypal to me. I'm having a HDFC Savings a/c. Please help.
	() Thanks

8th September 2008, 22:32	#12
JustStarted BHPian Join Date: Aug 2008 Location: jaipur Posts: 41 Thanked: 15 Times	although no transaction/transfer fee but paypal will charge conversion fee (CAD to INR), around 2.5%
	() Thanks

8th September 2008, 22:48	#13
Samurai Team-BHP Support Join Date: Jan 2005 Location: Bangalore/Udupi Posts: 25,828 Thanked: 45,547 Times View My Garage	If I have to pay somebody who accepts money via paypal, do I need a paypal account? Can't I just use my credit card to pay somebody who has paypal?
	() Thanks

8th September 2008, 22:53	#14
JustStarted BHPian Join Date: Aug 2008 Location: jaipur Posts: 41 Thanked: 15 Times	Actually you can, no need to have paypal account to pay.
	() Thanks

9th September 2008, 00:26	#15
pranavt Senior - BHPian Join Date: May 2008 Location: Mumbai Posts: 1,682 Thanked: 641 Times View My Garage	One small warning to all of you though. Make sure to not keep a lot of money in your Paypal accounts. Paypal has been known to freeze random people's accounts without any warning, and no reason is given either. When I used to work for a US website, their business account was frozen for a month, inconveniencing us all when we were to get paid or needed money to spend on researching/buying stuff.
	() Thanks