Is there any amount need to Paypal account verification linking Bank account?
September 5, 2012 1:37am CST
I am working to get my Paypal account verfied status for Indian's accounts. I am to submit my bank account details and PAN card details for it. I need help to know whether I have to keep any amount in my bank account on account of any charges or trasfer of amount to Paypal for the verification process.
5 Sep 12
Not at all. As PayPal might have already stated to you if you tried to verify your bank details - they will deposit 2 small amount in your bank account to verify the banking details. In my case they deposited Rs. 1.04 & Rs. 1.11. Then my account got verified. No fees was charged for the same. However, remember that the deposits will be later adjusted with the fund in your PayPal account. Good day! N.B. - Make sure that you put in your exact and proper banking details. If PayPal finds any mistake or is unable to remit the small deposits to the banking details provided, they'll charge a fine of Rs. 280 (may change from time to time, $5 is the standard fine).
5 Sep 12
no you don't. once you submit your bank account details, PayPal will make two deposits to your account. like 1.10 or 1.69, something like that. you need to check your bank statement. and type the exact amount in your PayPal account. do not try to convert the amount into Indian rupees. just type the the same number, as it in shown in your bank account. your account will be verified.