I wish to know 4 things: 1. How does PAYPAL recognize my bank account uniquely. When I link my bank account (in PAYPAL) I give my full name and bank IFSC code only. So suppose if there is some other person's account with same name in same bank branch ?? So how does PAYPAL determine this th owner of the money. 2. Can I safely and legally use a savings bank account of AXIS/HDFC bank? or do I need a business/current account. 3.How legal is the transfer?? 4.Which according to you people is a bank that will transfer my money with minimum hassles?? Most bank's customer care/information people have no idea about PAYPAL transfers. Please help me as I a new freelancer have earned some money at the getfreelancer.com but don't know if I can easily transfer it to my bank through PAYPAL .... (I reside in Lucknow (U.P.) )
1. When you enter your bank details, they are just stored in Paypal's information database. When you request to withdraw money from your Paypal account, the PayPal system will try to match, if the information entered in correct or not. 2. Yes. You can transfer your Paypal money to any of the popular banks having IFSC code. 3. Completely legal. 4. Any popular banks in India.
1. IFSC code is unique all bank branches. Even if 2 branches of the same bank have different IFSC code. 2. You can legally use saving account 3. Transfer is 100% legal. You just need to maintain Income Tax report if necessary. 4. HDFC bank and AXIS bank.
Before direct withdrawals to your bank, you need to provide your bank account details in your Paypal account. So even if there are two people with similar names in the same branch, you do have unique account number to get distinguished! Regards, RightMan
But ..... as far as I know , I am supposed to enter only name as identification to PAYPAL and the bank's IFSC code as bank details .. so ?? how can the bank use the account number to distinguish. Also , since I have no record of money sender .. how can a person receiving money from PAYPAL prove to Indian govt. (or concerned authority) that the money is not acquired through illegal means ??
man you enter your bank account no that's unique there is no one in this entire world with same account number in the same bank
Thanks guys .... please also tell about the legality of the money transferred since I have no proof of my earnings (freelancing work) and paypal has no details of the people who have transferred the money to me