Paypal is used for online money transactions and is a wholly owned subsidiary of eBay .To sign up for a new account in India you will need PAN card number.If your account is not verified you can’t withdraw more than in one month.After verification of your account all limitations will be lifted and you can withdraw as much as you want.
There are two methods to verify a Paypal Account
- Confirm Your Bank Account
- Confirm Your Credit/Debit Card
Confirm Your Bank Account:-For bank account verification paypal deposits two small amounts in your bank account.You have to look in your account statement and enter the exact amount that have been deposited in your account.
I tried to verify my Punjab National Bank (PNB) account but the amount deposited by paypal didn’t show in my bank statement.Confirm Your Credit/Debit card:- If you use this option paypal will deduct a small amount usually (around 100 Rs).You have to enter the expuse number (4 digit number ) for that transaction in your paypal account.Expuse number should be visible in your credit card statement.The deducted amount will be added into your account after you verify the account.
When I tried to verify using my PNB credit card the money was deducted from my account but the expuse was not available in my credit card transaction details.I discussed the matter with an employee of my local PNB branch but he had no clue about expuse number.
After a lot of research I found a way to verify paypal account.You need to have a HDFC account for using this trick.
HDFC Netsafe Cards:- Hdfc netsafe is used to create Vitual Credit Cards (VCC).You can create as many virtual master/Visa cards as you want and they will only have the amount you fill in them.
- Sign Up for HDFC Netsafe account.
- Now login into your Netsafe account.
- We have to create a new Virtual credit card.Enter any amount between Rs 100 and 200 and click on GO button.
- Now your new credit card will be generated.Copy Virtual Credit Card Number, CVV2 & Card Expiry Date
- Open your paypal account and click on Get Verified link.
- Now fill all the required fields such as Name,Card Type.In Card number,Expiry Date and Security code enter the details of Virtual credit card (VCC).
- Now Click on Save and Continue Button
How To Locate Expuse Number In HDFC Netsafe Card
- Login Into your HDFC Netsafe Account.
- Click on All Accounts and Services Link
- Now click on the Txn. Details button at the bottom of this page.It will open all the transaction details of your virtual credit cards.
- Locate the 4-digit Expuse number with paypal transaction.
- Copy the code and enter it in your paypal account verification page , click on Submit button.
- This will verify your paypal account.
Now all your paypal limitations will be lifted and you can withdraw any amount of money to your bank account.