What is Paypal 2023 and how to create Paypal Account?
PayPal is the most trusted online money transfer company, allowing you to do almost all currency transactions in most countries.
If you use the Internet, then you must know PayPal.
That’s why on this page we have shared all the information related to PayPal like what PayPal is, how it works, and how to create Verified Account on PayPal.
So let’s start reading Paypal information.
What is PayPal?
PayPal is a world-renowned company from America that provides the facility of sending and accepting money online.
Apart from being very easy to transact money through Paypal, it is completely safe, so it is being used all over the world.
You can transact money through Paypal in almost all major countries of the world.
In simple language, if you want to send or receive money from any person, you can easily exchange money with Paypal.
PayPal also takes a commission on its transactions. For example, if you send $100 to someone, PayPal charges you around 6% commission as Transaction Fees.
If you want to buy any items online, then you can easily buy through Paypal.
The best part is that it is very easy and completely safe.
How does PayPal work?
PayPal works in a very easy way, for that you have to first create a PayPal Account which can be easily created with the information of Email id and Bank account.
After creating PayPal Account, PayPal sends some money to your bank account for verification of your Bank Account, the amounts you have to verify in your PayPal Account so that PayPal understands that this bank account is yours and you can receive the money safely. Will you be able to
The Email Id you use while creating a PayPal Account is your Username from which you can ask for money from anyone and anyone can easily send money from PayPal to your PayPal account through your Email id or Username.
So you can receive money from Username and send money from another Username.
Let us now learn to create Paypal Account.
How to create PayPal Account?
To create a Paypal account, you must first go to the official website of Paypal.
First of all, on Payapl Signup Page, you will be asked whether you want to open an account for Shopping or Business.
If you have to open an account for business also, I would still advise you to first open an account for Shopping, after that you can upgrade it.
After choosing an account for shopping or trading, you have to give the information about which country you belong to.
If you are from India then choose India or choose the country you are from and enter your email id and a password will have to be created.
After that, you have to enter the contact information like name, address, mobile number, email, etc.
On the next page, you have to add a Debit Card or Credit card to your Paypal Account, you can also skip this step.
Now your Paypal Account has been created.
But if you are from India then according to the rules of India you have to complete some tasks first to exchange payment from PayPal.
Tasking means that you have to add some other information to your PayPal account.
This information is as follows.
- Bank account information
- Tax information (Pan card)
- Debit Card or Credit Card information
- Have to verify your email id.
After the account is created, you will deposit two amounts in the form of money in PayPal’s Bank Account.
The number of the amount you will have to enter in the Paypal Account. Due to this Paypal will know that the money is going to your account only.
This is a verification purposes which is for the security of your money.
After Verifying your Bank Account, your Verified Paypal Account will be ready so that you can exchange money with security.
Benefits of using PayPal -:
By the way, there are many benefits of using a PayPal account, some of which are given below.
International Transactions -: With this, you can transact money abroad even while sitting at home.
Security -: This is a very secure platform so you can use it without fear.
In which countries is PayPal available?
Paypal is available in the following countries.
If you live in the countries mentioned below, you can do money transactions through Paypal.
- Andorra
- Argentina
- Bahamas
- Bahrain
- Bermuda
- Botswana
- Cayman Islands
- Argentina
- Bahamas
- Bahrain
- Bermuda
- Botswana
- Cayman Islands
- Chile
- China
- Colombia
- Costa Rica
- Croatia
- Dominican Republic
- Ecuador
- El Salvador
- Faroe Islands
- Georgia
- Greenland
- Guatemala
- Honduras
- Hong Kong SAR, China
- Iceland
- India
- Indonesia
- Israel
- Jamaica
- Japan
- Jordan
- Kazakhstan
- Kenya
- Kuwait
- Lesotho
- Malaysia
- Mauritius
- Mexico
- Moldova
- Monaco
- Morocco
- Mozambique
- Oman
- New Zealand
- Nicaragua
- Norway
- Panama
- Peru
- Philippines
- Qatar
- Saudi Arabia
- Senegal
- Serbia
- Singapore
- South Africa
- South Korea
- Taiwan
- Thailand
- United Arab Emirates
- Uruguay
- Venezuela
- Vietnam
In which countries is Automatic Transfer in PayPal available?
According to the rules of some countries, people cannot keep money in a Paypal account, so whatever money comes into a Paypal account, is automatically transferred to your bank account within 24 hours.
If you live in one of the countries mentioned below, the money from your Paypal account will be automatically transferred to the linked bank account within 24 hours.
- Albania
- Algeria
- Antigua and Barbuda
- Barbados
- Belize
- Bosnia and Herzegovina
- Dominica
- Egypt
- Fiji
- French Polynesia
- Grenada
- Malawi
- New Caledonia
- Palau
- Saint Kitts and Nevis
- Saint Lucia
- Seychelles
- Trinidad and Tobago
- Turks and Caicos Islands
Which countries do not have the facility to accept payment through PayPal?
People from the following countries can send money through Paypal but cannot accept money through Paypal -:
- Anguilla
- Armenia
- Aruba
- Republic of Azerbaijan
- Belarus
- Benin
- Bhutan
- Bolivia
- British Virgin Islands
- Brunei
- Burkina Faso
- Burundi
- Cambodia
- Cameroon
- Cape Verde
- Chad
- Comoros
- Democratic Republic of the Congo
- Congo, Republic of
- Cook Islands
- Côte d’Ivoire
- Djibouti
- Eritrea
- Ethiopia
- Falkland Islands
- Gabon Republic
- Gambia
- Guinea
- Guinea-Bissau
- Guyana
- Kiribati
- Kyrgyzstan
- Laos
- Macedonia
- Madagascar
- Maldives
- Mali
- Marshall Islands
- Mauritania
- Mayotte
- Micronesia, Federated States of
- Mongolia
- Montenegro
- Montserrat
- Namibia
- Nauru
- Nepal
- Netherlands Antilles
- Nigeria
- Nigeria
- Niue
- Norfolk Island
- Papua New Guinea
- Paraguay
- Pitcairn Islands
- Saint Helena
- Rwanda
- Saint Pierre and Miquelon
- Samoa
- Saint Vincent and the Grenadines
- Sao Tome and Principe
- Sierra Leone
- Solomon Islands
- Somalia
- Sri Lanka
- Suriname
- Svalbard and Jan Mayen
- Swaziland
- Tajikistan
- Tanzania
- Togo
- Tonga
- Tunis
- Turkmenistan
- Tuvalu
- Uganda
- Ukraine
- Vanuatu
- Wallis and Futuna Islands
- Yemen
- Zambia
- Zimbabwe
Hope you like the information about Paypal.
Comment with any Paypal related questions.
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