Using PayPal
PayPal is very useful.
You can use your PayPal account to buy things online,
send money to someone else, or someone can send money to your PayPal account.
Unfortunately the financial laws in India
put some limits on it for use by residents of India.
Here are some pointers to information about using PayPal.
This info is collected from people who use it in India —
but the writer doesn't use it himself, so can't answer any questions.
Your best source of current info could be someone you know in India
who is using PayPal.
How PayPal Works
-
Sending (and receiving) money with PayPal - general info:
Information at PayPal site
-
Sending Money to someone else with PayPal:
Information at PayPal site
-
Withdrawing money from your PayPal account:
To see what your options are,
log in to your PayPal account,
go to the "My Account" → "Overview" page, and click "Withdraw".
-
Withdrawal and receiving limit:
Your limits will be different depending on the country you live in.
Unfortunately, India has the lowest limits.
To find limits for your account, log in to your PayPal account,
go to the "My Account" → "Overview" page, and click "View Limits".
(sept 2009 james - This is from a recent PayPal email, but i couldn't find this!)
Account limits info:
Information at PayPal site
-
Online shopping with PayPal:
Information at PayPal site
Withdrawing money from your PayPal account - limits
Withdrawal limits for India
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The limit for withdrawal by Send money to another account is USD 500.
-
This limit is for the life of the account. That is,
after you have withdrawn USD 500 by sending to another account,
you can't withdraw any more by doing that,
even if you have more money in your PayPal account.
-
The limit for withdrawal by check is USD 3000.
-
This limit is for the life of the account. That is,
after you have withdrawn USD 3000, you can't withdraw any more
by check, even if you have more money in your PayPal account.
-
This USD 3000 can withdrawn on a monthly basis of USD 500
-
PayPal charges a fee of USD 5 for each check withdrawal.
-
It's best to make sure that your PayPal account does not exceed USD 3000.
Just in case it exceeds one can avail the "Send money" option. But this option
is limited to USD 500 only. One can send USD 500 to another PayPal account,
and then withdraw the check from that account.
-
One solution to the $3000-limit problem, is that once you have
reached the limit, close that account and open a new one with a different
email address.
About PayPal account limits
at PayPal.com
Name and address for the withdrawal check
-
Be careful in registering the name and spelling etc
while opening a PayPal account. The check will be issued against that name
only. for e.g. if you registered the PayPal account in the name of "Foo Tibet",
PayPal will issue a check in the name of "Foo Tibet" only
-
Postal address of the organisation/individuals should be correct or else
the check gets lost
PayPal Security
Here are a few tips for security with PayPal.
This information is true for anything online, not just PayPal!
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Never click on a link, in email or webpage, to go to your PayPal account.
Open a new browser window and type in www.paypal.com.
-
Why? Because the email may not really be from PayPal,
and the link in it may send you to a fake website where
the Bad Guys will steal your PayPal password, put viruses
on your computer, etc.
-
Make sure you have a good, secure password.
That means:
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It is eight characters or more,
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It is not made of a word, a year, or other easy-to-guess info
-
It is a mix of uppercase and lowercase letters, numbers, and punctuation characters,
like: J8(sln923Xo
-
PayPal will never ask you to give your password (or any other info) in email.
They will give you messages in your account, which you will see when you log in.
For more security info, go to
www.paypal.com/securitycenter
Know more
Note:
The writer doesn't use PayPal himself, so can't answer any questions.
Your best source of current info could be someone you know in India
who is using PayPal.
All content not copyright by anyone else is
copyright © 2003–2009 James Walker.
License for use is the GNU Free Documentation License.
Find it:
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License directory
or
at the Free Software Foundation,
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This content is copyright to the
author stated on the page.