Can i verify my Paypal Account with a Union Bank of india ATM card?

Thanks, Samser. But I think that paypal is based on US dollars. How can I convert it to INR when withdrawing? Hope you got the point of my question and you'll reply in detail.

 

Though you have addressed that exclusively to Samser, may I answer that question?

When you withdraw your Paypal balance to your bank a/c, Paypal converts it to INR automatically based on the (USD->INR) conversion rate of that day.
And if the amount in INR comes to be 6999 or less, it deducts Rs.50 for fees. If it's 7000 or more, the transfer is free.

 

What a dumb statement and even dumber question!

Paypal is not BASED on any particular currency. In fact, you can hold multiple currencies in your paypal acount and it will list them all. Like $50 USD, $30 HKD, €100 EUR. It all depends on what and how you charge your customers. If you quote them prices in USD then they pay you in USD and thus you receive USD in your Paypal account. Paypal them does an approximation of the value of all your different currencies conveerted into your "home currency", and that number is displayed at the front page after loggin in.

When you want to withdraw, go My Account > click Profile
In the middle coulumn, find and click "Currency Balances". Use the "Currency Exchange" processor to the right. Decide from what currency you want to ttransfer and what amount. Paypal will handle the conversion and then your money are ready for withdrawal.

 

Just to let you know, exchange rate is a bit low, I compared with others, it is approx. INR 1/- lower, still we use because other methods are relatively expensive to get money from abroad.

 

Yes i started the process of bank verification of my Paypal account

 

Thanks a lot Azkaban and Adraco. Specially for Adraco, sorry for being dump. I want to have enough knowledge before getting into any matter. And I think all of you are happy to answer these kind of dump questions from me and also from others.

 

hmm... nice answer!

 

Thanks for all. I got too many informations from this discussion and now I'm waiting for the deposit receival from Paypal. My status there says that the deposit has been sent. I'll get back after receiving it and verifying my account. Thanks Samser, Azkaban, Adraco...Thanks for each and everyone.

 

Well, yes we are. Because all of us have a feeling deep inside our heart to overtake deluxdon

 

Good Morning all. I've recieved the first deposit within 24 hours, but the second one has not yet come. What is the problem? Should I've to wait further or contact my bank?

 

Thanks all... I received both of the payments and now I own a verified Paypal account.

 

hurray.. I too have a verified paypal account now..

 

i think that you can't verify your Paypal with indian debit cards..But you can verify by using your credit card

 

What's this? Please update yourself. Both of the cards are not needed now. You just need a bank account.

 

This is now history. very very outdated dude! Try to update.