# [HELP] 2 Queries Regarding PayPal Account



## Vishal Gupta (Sep 22, 2008)

Guys

I need some help as I'm really confused atm. I have a PayPal account since a long time but its not verified cause I don't have Credit Card. My city comes under blacklisted and no bank provides credit cards.

I have a debit card with Visa logo but PayPal doesnt accept it.

Now my queries are as following:

*1.* Is *credit card* only needed to verify the account or is it need in future transactions as well? I mean, suppose I use a friend or relative credit card to verify the PayPal account, will there be any problem to him? I'll basically use the PayPal account to take money from others not to send money anywhere.

*2.* I have heard about *virtual credit cards* in this forum. Are they legal? Many members don't suggest to use them. Is their any risk in using them?

I'll be very thankful if someone can clear my doubts and help me.


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## adi007 (Sep 22, 2008)

1.Credit card should be under the same name as paypal registered name
SO it is impossible to use others CC
and moreover paypal often will cross check and ask for CC statement to be faxed to them
2.You heard right
VCC is not recommended...
It is stated as illegal ... but if u have yours online bank account which gives the option to generate VCC then u are good to go 
I have heard HDFC,Axis bank provides such facility

BUT i have also heard that recently these can't be used to verify paypal so i am not sure

If one is caught using VCC generated by other's then i have heard that paypal will permanently lock the account


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## Ecko (Sep 23, 2008)

^^ +1
in payment remarks just add what the transaction meant 4


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## NucleusKore (Sep 23, 2008)

^+1 @ adi007
Now if your town is blacklisted (for whatever reason, hearing about it first time!!), why don't you open a bank account in another town and get yourself a credit card. Or simply go to *www.citibank.co.in and apply. I got my first credit card from them in the year 2000. At the time I was a house surgeon earning a princely sum of Rs. 1500 (yes one thousand five hundred ONLY). My credit limit was Rs. 12000.

*s269.photobucket.com/albums/jj44/visio159/Unismilies/38large.png


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## din (Sep 23, 2008)

Vishal Gupta said:


> My city comes under blacklisted and no bank provides credit cards.



Yes, heard of this. _Mattancherry_ near Cochin (Kerala State) is an example. Basically the companies analyze the area and decide based on many factors - like what the majority there do (their life style, profession and all) etc.



Vishal Gupta said:


> I have a debit card with Visa logo but PayPal doesnt accept it.



Unfortunately Paypal does not accept any Debit cards (Indian).



Vishal Gupta said:


> *1.* Is *credit card* only needed to verify the account or is it need in future transactions as well? I mean, suppose I use a friend or relative credit card to verify the PayPal account, will there be any problem to him? I'll basically use the PayPal account to take money from others not to send money anywhere.



Credit card is for verification purpose only. Basically they verify your physical existence. As credit card are issued only after a detailed verification process, by attaching the credit card, Paypal makes sure your address and other details are correct.

However, using your friends credit card is not recommended. The name / address etc will not be same. The last name and address that you provide in Paypal account (profile) should be exactly same as that of Credit card statements. Else it will be rejected.



Vishal Gupta said:


> *2.* I have heard about *virtual credit cards* in this forum. Are they legal? Many members don't suggest to use them. Is their any risk in using them?



Yes, most does not recommend virtual credit cards. The banks issue them (example : HDFC) claims it is perfectly legal. The reason why it is not recommended is - the virtual credit cards expiry date is short (like the details expires within days, you have to use it within 1-2 days of creation and second - expiry date shown in those cards will be like 2 or 3 months from the date of creation. So if some dispute come, you will not get a chance to prove the credit card belongs to you. I mean no statement and no other records. Other than that it is alright to use virtual Credit cards.


Vishal Gupta said:


> I'll be very thankful if someone can clear my doubts and help me.




Helping Vishal is the biggest honor anyone get in this forum and we would love to do the same 



adi007 said:


> I have heard HDFC,Axis bank provides such facility
> 
> BUT i have also heard that recently these can't be used to verify paypal so i am not sure



HDFC Virtual Credit cards were not working for few months (something at HDFC bank's end) but they fixed it and they can be used to verify Paypal accounts now (*I personally verified this and it is working fine now*). 

My Paypal account (I think it was created in 2003 / 2004) is attached to a real / physical credit card but my wife's - Virtual Credit card (that of HDFC). Both are working fine. No problems related to Credit cards in Paypal - at least so far !



NucleusKore said:


> Now if your town is blacklisted (for whatever reason, hearing about it first time!!), why don't you open a bank account in another town and get yourself a credit card. Or simply go to *www.citibank.co.in and apply. I got my first credit card from them in the year 2000. At the time I was a house surgeon earning a princely sum of Rs. 1500 (yes one thousand five hundred ONLY). My credit limit was Rs. 12000.



Yes, that is a good option. If you have proof that you are working in a city (different than your blacklisted place) or having a business, there is more chance.

Another thing is, Software is a risky field according to all Credit card companies !! Do not attack me lol, I know it is very easy to get Credit cards if you are working in a big software firm. I meant, if you are into freelancing or a small firm it will not be easy. But that is just one factor, if all other factors favors you, then definitely you will get one. On the other hand, Medical profession is a 'less risky' one according to them.

*Footnote : * If no other options are left for getting a Credit card (attaching a physical Credit card is always recommended) and if you have HDFC / ICICI / Axis bank account, I think making Virtual Credit card out of your own account is the next best option (Personally I will not suggest you to use your friend's Credit card). After that attach your bank account (Even SBI will do), and once someone pay you, accept it, and transfer it to SBI immediately. May take only 2 or 3 days (again from my wife's experience).


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## gary4gar (Sep 23, 2008)

What if you open a Paypal account in the name of person holding a credit card and use that card for verification purpose?
I think this can wok

so you need a trusted friend,family member holding a credit card


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## din (Sep 23, 2008)

@gary4gar

That will work 100%. I was just listing the best ways. And personally I do not recommend it. 

BTW, Vishal, your Dad has a Credit card ? If he is ok with you giving the Credit card info in Paypal website, you can use your name, address etc and can use his Credit card info (it will work ok as last name match will be there).


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## goobimama (Sep 23, 2008)

gary4gar said:


> What if you open a Paypal account in the name of person holding a credit card and use that card for verification purpose?
> I think this can wok
> 
> so you need a trusted friend,family member holding a credit card


Actually all you need is your friend's credit card number, and the statement at the end of the month 

I'm just kidding btw. If you do get your friend to allow for verification, make sure he doesn't stay at the tip of Kanyakumari. Cause most seller's, especially on eBay, will ship only to verified addresses, that is, the one associated with the Credit Card.


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## gary4gar (Sep 23, 2008)

goobimama said:


> Actually all you need is your friend's credit card number, and the statement at the end of the month
> 
> I'm just kidding btw. If you do get your friend to allow for verification, make sure he doesn't stay at the tip of Kanyakumari. Cause most seller's, especially on eBay, will ship only to verified addresses, that is, the one associated with the Credit Card.


Well, that not a issue at all!
My friend stays in same city, so it does not matter if the ebay ships to that address.
i can go and pick it up


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## NucleusKore (Sep 23, 2008)

gary4gar said:


> What if you open a Paypal account in the name of person holding a credit card and use that card for verification purpose?
> I think this can wok
> 
> so you need a trusted friend,family member holding a credit card





din said:


> @gary4gar
> 
> That will work 100%. I was just listing the best ways. And personally I do not recommend it.
> 
> BTW, Vishal, your Dad has a Credit card ? If he is ok with you giving the Credit card info in Paypal website, you can use your name, address etc and can use his Credit card info (it will work ok as last name match will be there).



NO, not advisable. Depending on the amounts involved that person will have Income Tax problems, especially if foreign currency is involved.


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## din (Sep 23, 2008)

@NucleusKore

I meant using his own name, address etc in Paypal, but using his Dad's card only for verification. So all accounts will be in his name, and his Dad need not pay tax for that isn't it ? Credit card is attached only once, they deduct < $2 from that too, then it is all done. So not much issues related to IT for his Dad isn't it ?

Please correct me if I am wrong.


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## Vishal Gupta (Sep 23, 2008)

Thanks guys. I appreciate your help. 



NucleusKore said:


> simply go to *www.citibank.co.in and apply. I got my first credit card from them in the year 2000. At the time I was a house surgeon earning a princely sum of Rs. 1500 (yes one thousand five hundred ONLY). My credit limit was Rs. 12000.


Is it necessary to have an account in Citibank to apply for this online credit card? I don't have any account in Citibank.

Also which credit card option should I choose from drop-down menu? There are lots of options available.



din said:


> Credit card is for verification purpose only. Basically they verify your physical existence. As credit card are issued only after a detailed verification process, by attaching the credit card, Paypal makes sure your address and other details are correct.
> 
> *Footnote : * If no other options are left for getting a Credit card (attaching a physical Credit card is always recommended) and if you have HDFC / ICICI / Axis bank account, I think making Virtual Credit card out of your own account is the next best option (Personally I will not suggest you to use your friend's Credit card). After that attach your bank account (Even SBI will do), and once someone pay you, accept it, and transfer it to SBI immediately. May take only 2 or 3 days (again from my wife's experience).


So Credit card is only needed for verification purpose. That means only once. So once we verify the account successfully, we'll no longer need it? I mean do they verify it time to time? If I use VCC and verify the account, will I need to renew it every 2-3 months for Paypal?


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## din (Sep 23, 2008)

Vishal Gupta said:


> Is it necessary to have an account in Citibank to apply for this online credit card? I don't have any account in Citibank.



No, bank account is absolutely not necessary for getting a Credit card. *But* most banks give Credit cards to their (good) customers with less formalities (as the Bank know the customers for long,  I mean for account holders who maintain a good relation - in terms of business - with the Bank. Example : HDFC Bank). Plus having an account with *any bank* and maintaining it good will always helps. The Credit card people has some way to verify it.



Vishal Gupta said:


> Also which credit card option should I choose from drop-down menu? There are lots of options available.



Little confused. Which site you meant ? Any credit card/ Bank website or Paypal website ?



Vishal Gupta said:


> So Credit card is only needed for verification purpose. That means only once. So once we verify the account successfully, we'll no longer need it? I mean do they verify it time to time? If I use VCC and verify the account, will I need to renew it every 2-3 months for Paypal?



Exactly. Credit cards need to be attached only once. And they are used for verification purpose only. The virtual Credit cards you attach will expire within months, but it is not necessary you renew it (If I remember correctly, Paypal was asking users to renew the same 2-3 years back, but not now)


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## Vishal Gupta (Sep 23, 2008)

^^ Thanks. I was talking about the online Citibank credit card which NucleusKore mentioned:

*www.citibank.co.in/

When we click on Apply Now link, the first step asks to choose a credit card type and I'm confused which one should I select?

So I don't have an account in Citibank, can I apply for this online credit card? What other things will I need to get this credit card?


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## din (Sep 23, 2008)

@Vishal Gupta

The card type depends - your requirement, eligibility etc. For example, HDFC gives Platinum(or it was Titanium ? old people forget things very fast  ) card to the best customers.

I think Citi bank website will have a detailed section of all card types, something regarding eligibility etc.

Also, please note that (you might be knowing it already) applying it online is just step1, they will verify everything, will come there in person and lot of other formalities. So it will take some time too.

No, as I mentioned before you need not have an account with Citi bank to get a Citi bank Credit card.


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## Vishal Gupta (Sep 23, 2008)

I tried to check the card details and its really confusing. 

@NucleusKore
Which card type did you select? Can you pls suggest me which one should I choose?


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## din (Sep 23, 2008)

@Vishal Gupta

Mine is not Citi Bank, so I am not sure. But consult with people having Citi Bank Credit cards. Yes, NucleusKore will sure help. Hes having one.

Basically go for a Credit Card with lowest credit limit (final Credit limit will be decided by Bank only) - as your requirement is attaching it with Paypal.


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## NucleusKore (Sep 23, 2008)

din said:


> @NucleusKore
> 
> I meant using his own name, address etc in Paypal, but using his Dad's card only for verification. So all accounts will be in his name, and his Dad need not pay tax for that isn't it ? Credit card is attached only once, they deduct < $2 from that too, then it is all done. So not much issues related to IT for his Dad isn't it ?
> 
> Please correct me if I am wrong.



If it's his dad I am not sure. Better to check with his CA before doing it, IT laws are funny.



Vishal Gupta said:


> I tried to check the card details and its really confusing.
> 
> @NucleusKore
> Which card type did you select? Can you pls suggest me which one should I choose?



I started with the Citibank VISa Classic. You can click apply online now, and select Citibank Silver credit card from that list


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## navjotjsingh (Oct 2, 2008)

Just checked the Citibank website: The facility to apply online for a Citibank Credit Card is currently available only for customers of Citibank and its partners.

So you need to personally apply for a Citibank CC.


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## gary4gar (Oct 2, 2008)

@Vishal
How come still you haven't got any call for credit card?
i get one call at least once a month


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## casanova (Oct 5, 2008)

^^
I was getting them everyday.

From my personal experience, I would suggest that you go for a ICICI bank credit card and account for ease of use. It will suit your needs quite well.

Incase, it is fine with your dad to allow you to use his Credit card, you can ask your dad to get an Add-on card issued for you.


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## satyamy (Oct 18, 2008)

I think Many of Paypal Policies have been changed

and Now you can Verify your Paypal account using Both Credit or Debit Card
check this link PAYPAL


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## gary4gar (Oct 18, 2008)

how long does it take to withdraw fund in bank account?

on paypal it says "5-7days". 
some people say it comes in 2-3days, is that true?


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## adi007 (Oct 18, 2008)

gary4gar said:


> how long does it take to withdraw fund in bank account?
> 
> on paypal it says "5-7days".
> some people say it comes in 2-3days, is that true?



Yup
transfer to my SBI bank account takes at max 3 days


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## satyamy (Oct 18, 2008)

gary4gar said:


> how long does it take to withdraw fund in bank account?
> 
> on paypal it says "5-7days".
> some people say it comes in 2-3days, is that true?



Lets try Our Luck

I am withdrawing some amount in ICICI Bank

earlier i use Cheuqe
as it is written in Paypal Site it take 5-7 days for issuing cheque
and in total i get my cheque in hand in exact 14-15 days

m trying Bank account option for the 1st time

Will surely post the results here


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## ravi_9793 (Oct 18, 2008)

gary4gar said:


> how long does it take to withdraw fund in bank account?
> 
> on paypal it says "5-7days".
> some people say it comes in 2-3days, is that true?


paypal says 5-7days working days.. but it generally takes 2-3 working days.

I have always received in maximum 3 working days.



satyamy said:


> I think Many of Paypal Policies have been changed
> 
> and Now you can Verify your Paypal account using Both Credit or Debit Card
> check this link PAYPAL


Indian Debit card are still not accepted.


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## satyamy (Oct 20, 2008)

can someone tell me what is the current exchange rate of Paypal
today's RBI rate is 1USD = 48.8 INR
but paypal dosent transfer at this rate

as it is written if we transfer to Indian Bank amount more than Rs. 7000 than their is no fee otherwise for less than 7k they charge rs. 50
and for cheque it is $5

my friend said if we use cheque their exchange rate is high
and if we use Bank transfer their exchange rate is low since they earn more commission on it
Is this True ?


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## gary4gar (Oct 20, 2008)

this is what i was got two days back


> *Exchange rate: 	*
> 1 U.S. Dollar = 47.0925 Indian Rupees


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## ravi_9793 (Oct 20, 2008)

satyamy said:


> can someone tell me what is the current exchange rate of Paypal
> today's RBI rate is 1USD = 48.8 INR
> but paypal dosent transfer at this rate
> 
> ...


Paypal exchange rate is always less than market exchange rate. After all, they also need to make some money.


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## Sukhdeep Singh (Oct 20, 2008)

Paypal sucks, Very high fees per transaction and low exchange rates 

Waiting for Google Checkout to be avialble for everyone and break Paypal Monopoly


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## satyamy (Oct 20, 2008)

Google Checkout, What is it ?


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## din (Oct 20, 2008)

Google Checkout is basically an online payment system by Google.

More :

*checkout.google.com

*en.wikipedia.org/wiki/Google_Checkout

*checkout.google.com/buyer/tour.html


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## satyamy (Oct 20, 2008)

hooo.....
i didnt know that

thanks Sukhdeep  & Din for the info


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## Sukhdeep Singh (Oct 21, 2008)

Pleasure Satyam. Sad Part, all US people got 10$ for free at start


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## beatwin (Oct 21, 2008)

Try Plimus. It's much safer than any other online payment processor.


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