Is Mylot payout possible to unverified Paypal accounts? Need advice!

@mohkanari (1957)
India
September 2, 2012 6:29am CST
I am reaching to payout minimum of mylot. But my Paypal account is still in unverified status. Is mylot payout possible to unverified Paypal account? Help me with the latest procedure of mylot payout.
5 responses
• Chennai, India
2 Sep 12
Just increase your payout threshold at mylot, until you verify your paypal. As per policy of Paypal, Indians cannot receive money to unverified accounts. For verifying you will need a PAN card and a bank account with a valid IFS code. The verification process may take around 15 days to one month, if all your details are correct.
@mohkanari (1957)
• India
2 Sep 12
Thanks for giving the details, which seems now, not tough. My PAN number is given, but purpose code is to be given. I think my SBI account may support the the steps.
• Chennai, India
2 Sep 12
I remember I have chosen 'Content writing', as we do more or less similar task at MyLot. And all the other purpose codes were totally irrelevant.
@mohkanari (1957)
• India
2 Sep 12
Thank you again for sharing the information. I think a tough matter to me is getting simplified.
@DoctorDidi (7018)
• India
6 Sep 12
What I can say in this respect is that we, the Indians, require to have verified Paypal accounts for receiving payments from mylot. I am not sure which country you belong to. But your user name indicates that you too belong to India. So the same rule would be applicable to you.
@mohkanari (1957)
• India
6 Sep 12
Yes,as you guessed I am from India. I had to include it in the starting of the discussion. Responses to this discussion are very helpful to me on the matter. Now the only problem I afraid is that,in my Paypal a/c last name is in full, where in my bank a/c last name is in abreviation. Share me any idea that you have in that case. That is, whether verification is possible when first name are identical, but last name is in abreviation in bank a/c.
• India
8 Sep 12
In that case either you would have to edit your personal details in paypal or to change your name in bank account by submission of necessary documents as suggested by the bank. But whatever the case may be, you have to do it as soon as possible.
@Devilova (5392)
• Indonesia
2 Sep 12
At the first time I received my payment from Mylot, my Paypal account didn't verified yet. But, I still receive the money to my account. Didn't know about what exactly happened with Paypal in India. I only hear about it getting issue in India about 2 years ago.
@mohkanari (1957)
• India
2 Sep 12
RBI, central bank of India is holding strict laws in foriegn money transaction's transparency. As the discussion here confirms I have to get my account verified. Thanks for the response.
2 Sep 12
You are eligible to receive payment by unverified PayPal account to the best of my knowledge. All you need to enter your PayPal email id and hope you will get paid.
• Chennai, India
2 Sep 12
Indians cannot receive money in their paypal account unless they verify their accounts. This is the policy of Paypal in accordance with our Banking rules. Even if we Indians verify our paypal with a bank account and Tax number, we cannot spend via paypal without a valid credit card.
@MrGhost (550)
1 Apr 13
If you are an Indian citizen, you need a verified Paypal account for all types of transactions through it, be it your payment from mylot or any other site or investment to any site.