Paypal verification using credit / debit card or bank account

Replies

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  [Prototype]

  That depends on the purpose of you creating the account.
  
  1. If majority of your transaction will be outgoing, its better to verify with Debit card as you'll readily have a source of funding.
  
  2. If majority of your transaction will be incoming, its better to verify with bank account as you'll need it to withdraw the incoming funds.
  
  In either case, you'll end up adding both sooner or later, but its the question about which one can wait. Depending on the purpose, you may prefer the one.
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  Kaustubh Katdare

  I've a verified account and have used Paypal several times for outgoing transactions. I used my Credit Card for the verification and it's working fine. I've also associated a bank account where the money gets withdrawn. But talkinga bout the pros and cons - I'm not aware of any for both these methods.
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  Sanyam Khurana

  Do outgoing transactions always need a debit card?
  
  +
  
  Is there any fee difference on the method I take to withdraw funds [I would withdraw from Paypal]
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  Harshad Italiya

  Sanyam Khurana

  Do outgoing transactions always need a debit card?
  
  +
  
  Is there any fee difference on the method I take to withdraw funds [I would withdraw from Paypal]

  They normally charges 4-5% of the total amount. And conversation rate is also 1-1.5INR under the current rate. Say if USD to INR is 61.45 paypal will give you around 60.45.
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  [Prototype]

  Sanyam Khurana

  Do outgoing transactions always need a debit card?
  
  +
  
  Is there any fee difference on the method I take to withdraw funds [I would withdraw from Paypal]

  Yes, you need a local payment source either CC or DC. Starting from I guess 2010, Paypal no more allows you to send money from Paypal balance. Leave that aside, it doesn't even allows you to keep the balance itself. I'll be auto withdrawn to your account in a day or two. Curse RBI for that, Paypal is next to useless for Indians.