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Does linking of bank account to Paypal enable receiving funds or sending funds or both? Pl note that question is not about linking credit card
2013-07-02 10:28:44
Yes Sunil According to RBI Policies, - An Indian Cannot Pay to another Indian Using Paypal. we have to Use wiretransfer. - We can Accept Payments from Non Indian Account. which is autowithdrawn to Bank account within 24hours. We cannot use received amount. it has to be transferred to India.- Ebay.in Uses Paisapay
2013-07-01 16:25:59
Sunil For India, it allows you to withdraw funds to Account. You can't store money in Paypal According to RBI, so transfering money from bank to paypal is no more of any use.
2013-07-02 10:20:07
ThanksAdding a subquestion from your response : You mean a paypal user in India cannot receive money from Indian or international users of either same or another country?I have noticed that ebay sellers having option to receive payments through paypalPl clarify How can an eBay.in ( .in , NOT .com ) seller receive buyer's payment through paypal after linking eBay and Paypal accounts?
2013-06-19 07:32:14
You can both send and receive money with PayPal.
2013-07-02 12:17:15
I must admit I don't know the regulations in India. Paypal is a payment service. If you have a PayPal account, you can use it to pay PayPal bills. You can also receive funds into your PayPal account, and the money will stay there until you use it for paying, or transfer it to your bank account (the latter implies of course that you link it to a bank account). This is the GENERAL situation with PayPal, but it's entirely possible that PayPal operates a different policy in India, or that financial regulations in India do not allow it to work in the same way. If this is an important issue for you, I suggest you don't rely on our hearsay (which is in effect what we are all offering here) but read the PayPal Terms & Conditions, and perhaps contact them and have the situation confirmed in writing. Of course, if you do this, it would be very interesting to read here what you have discovered!
2013-06-19 06:34:49
Here's the basics:If money is transfered to you then it goes into your PayPal account, you can then transfer it to a linked bank account. If you are paying for something it will come out of the bank account you have set up with PayPal.
2013-07-02 10:21:53
Thanks
2013-06-19 06:34:09
First of all they confirm your identity through sending some funds to your bank account. and receiving and sending all depends upon the country you have signed up for as in some countries you can send and receive both but in some you can receive only or send only.
2013-07-02 10:22:40
ThanksAs you mentioned : How to know which countries can send or receive or both?
2013-06-19 04:44:51
linking bank accounts will allow you to send and receive funds.
2013-06-20 09:22:58
Thanks!butYou imply both(sending and receiving) or or one of them?
2013-06-18 21:02:45
How to Set Up a PayPal Account to Receive Moneyhttp://www.ehow.com/how_6359101_set-paypal-account-receive-money.html
2013-07-02 18:25:21
it is stated Receive export-related payments from buyers in 193 countries. so. So if someone purchase item from you on ebay then that person can pay by paypal to you and must be member of the listed 193 countries.
2013-06-18 20:47:14
There are 2 purposes for linking bank accounts (checking or savings) with PayPal. First, they use it as a means to verify your identity by trusting that your bank knows that you are a real person. Second, it allows you to transfer funds between your bank account and your PayPal account. It has no bearing on receiving funds into your PayPal account from another source, nor does it affect the ability to send funds already in your PayPal account.
2013-07-02 10:25:12
ThanksThat is lucidly elaborated