What kind of bank account should an online worker have to receive money from PayPal in India?
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Will a savings account suffice? I was planning on working online as part-time .I dont have a credit card or even a bank account as of now.I was wondering what kind bank account is needed to withdraw money from paypal . And also does a savings bank account in india favour electronic transactions.?? & is credit card a must? Or can we withdraw money from paypal with a debit card?? Sorry for sounding soo naive...........Answers will be appretiated a lot!!!
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Answer:
Yes. Normal savings account would suffice. However before the transaction is possible, PayPal will ask you for some details including the type of transactions (it is permitted to handle only exports related transfers in India) and there is a verification performed on the bank account that you provide
Sandeep Chandalia at Quora Visit the source
Other answers
You need the following to open a verified Paypal account. - PAN Card - Bank account (Savings or Current does not matter) You do not need a Credit or Debit card to open a Paypal account. Payouts will be made to your bank account (via electronic payments) only. P.S. If you're an Indian business/ freelancer, do check out http://zilra.co (that we built) to send and receive payments from the US at 0% fee. It is practically the same as having a US Bank account in India (without all the headache).
Muthukumar Marappan
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