Hello,
Some of the most acclaimed members have outrightly rejected the idea that a "DEBIT CARD CAN BE USED TO LIFT THE PAYPAL WITHDRAWAL LIMIT AND GET VERIFIED".
I dont have a Credit Card but ultimately I came to verify my PayPal account 2 months back.
You can, as an Indian, verify your PayPal account using your VISA Debit Card from a Bank that has the facility of generating Virtual Credit Cards (like HDFC bank's NetSafe Cards) for online shopping.
The procedure is like this:
1. Generate a new Virtual Credit Card (INR 100 would do).
2. Enter the Credit Card details in the "Add a Credit Card" option of your PayPal account.
3. Login to your Virtual Credit Card service (like Netsafe Login for HDFC users).
4. Check for Transaction (Txn) Details tab.
5. The card you added to your PayPal account will show the details something like PAYPAL*EXPUSE1234, where 1234 denotes the 4-digit number you have to enter in your PayPal account (called the Expanded Use number).
Once you have done all this, your payPal account will be verified and you shall be allowed to send and receive limitless amounts using PayPal.
I would like to mention that 'Verified' members of PayPal can withdraw funds by requesting a cheque(at least US$ 150) as and when they want. Delays in receiving payments in your PayPal account are NON-EXISTENT, thank God. PaisaPay can take weeks to clear Credit Card payments. PayPal tells you if a member is verified (which helps a lot in determining if the buyer is genuine!) or not.
Credit Card verification is also possible for people who can generate Virtual Credit Cards (in case they dont have a physical one) through NetBanking and then by entering the 'Expanded Use Number' which is available in the online statement for that Card.
PayPal payments can be withdrawn using cheque (US$ 5.0 per withdrawal) or using the third-party service at www.xoom.com (8 to 15 dollars for upto US$ 1000). Funds transferred using xoom.com can be deposited directly in your account in any of the 50 supported BANKS in India.
Please keep a copy of your address proof (same as in your xoom.com account) and ID proof handy; XOOM.com may ask you to email the same in case they wish to verify.
Best Wishes
Shahnawaz ๐
