How To Earn Money On Paypal, 5 Ways To Earn Free PayPal Money in
“Discover lucrative opportunities to earn PayPal money online with our comprehensive guide. Explore the best strategies and quick cash methods to boost your income effortlessly. Whether you’re a freelancer or looking for passive income, this guide has tips to start making money with PayPal today!”
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Earning money on PayPal can be achieved through various methods. Here are five ways to earn free PayPal money:
- Online Surveys:
- Participate in online survey websites that pay for your opinions and feedback. Companies like Swagbucks, Survey Junkie, and Vindale Research often reward users with PayPal cash or gift cards in exchange for completing surveys.
- Freelance Work:
- Offer your skills and services on freelance platforms such as Upwork, Fiverr, or Freelancer. Whether you are a writer, graphic designer, programmer, or have other skills, you can find clients willing to pay for your services. Once you complete a job, you can receive payments via PayPal.
- Cashback and Rewards Apps:
- Use cashback and rewards apps that offer PayPal as a payout option. Apps like Rakuten, Ibotta, and Honey provide cashback or rewards for online shopping, and you can transfer your earnings to your PayPal account.
- Affiliate Marketing:
- Promote products or services through affiliate marketing programs. You earn a commission for every sale made through your unique affiliate link. Many affiliate programs offer PayPal as a payment method. Join affiliate programs related to your interests and promote products through your blog, social media, or other channels.
- Online Selling:
- Sell items or services online through platforms like eBay, Etsy, or Craigslist. You can declutter your home by selling unwanted items, or you can start a small business selling handmade or vintage goods. PayPal is a common method of payment on these platforms.
Remember to exercise caution and verify the legitimacy of the platforms you use. Be wary of scams, and always prioritize your online security. Additionally, consider the specific terms and fees associated with PayPal transactions to maximize your earnings.
How PayPal works in India
PayPal India lets individuals and businesses in India open accounts, but functionality and what you can do with PayPal India is limited.
First, individuals can only use PayPal to shop at the brands and boutiques in the PayPal Shopping home site.
Instead, you have to link your debit or credit card to your account and can make payments for any purchases made with sellers on PayPal. That is it.
If you are a business owner, it is a different story.
You can receive international payments from 200 countries using PayPal. It can also be used for domestic payments as well, but it can be more expensive than native-Indian payment gateways.
As a registered business account, you can also send payments using your PayPal India account. So whether you have suppliers or partners to make payments to, you can use your account to do so.
But with a business account, it is a good idea to keep an eye on your fees. International payments have a fee of 4.4%+ a fixed currency fee. This is in addition to a currency conversion fee and a PayPal-set exchange rate.
How to set up PayPal account: Step by Step
Now if you want to open a PayPal India account, there are different processes for opening an individual account, or a business or freelancer account. Here is a step by step guide on how to setup your PayPal account in India:
For individuals
- Go to PayPal website and click on Sign up
- Select an Individual account
- Enter in your phone number and details
- Follow the instructions to complete and verify your account²
For Freelancers or Businesses
- Go to PayPal website and click on Sign up
- Select Business Account on the screen
- Choose from the dropdown menu what type of payments you are looking to receive and your annual sales volume in USD
- Next enter in your email address and provide details on your business, then hit Continue once you are done Using the dropdown menu, provide additional business information like your business PAN and date of formation and once complete, press Continue
- PayPal may ask for additional information before your account can be opened. Follow the steps to complete and verify your account.
How to verify your PayPal account
To begin using your PayPal India account, you will need to complete the company’s verification process.
For individuals
You will need to first link your debit or credit card to your PayPal account. You can do that under Payment Methods on the dashboard and by submitting your card details.
You can confirm your debit or credit card with an OTP sent to the registered mobile number. Check out the section below about how to confirm a bank account. ⁴
For businesses
You need to activate and verify your account. Here is how you can do it⁵:
- After signing up, PayPal would have sent you an email to confirm your email address listed. Click on the confirmation button in the email.
- Next, you will have to complete the Know Your Customer (KYC) procedure to verify your business account. Depending on the type of business you do, you may be required to provide additional documents to PayPal.
- Link your business bank account to your PayPal account. Make sure your business bank account is valid and matches the PAN information you provided to PayPal.
Be sure to have your Bank name, IFSC code, and Account number ready and on hand.
How to confirm bank account in PayPal
For both individual and business accounts with PayPal, you will need to verify and confirm your linked bank account through a similar process.
To do this, PayPal will send two small deposits, with amounts between ₹1.01-1.50, to the bank account you have submitted. You can check your bank account or bank communication for the exact amounts that have been deposited. This can take 4-5 business days.
Once you have the unique amounts that were deposited in your account, you can confirm your bank account by entering in the amounts under the Payments Method tab. If the amounts match, your bank account is confirmed.⁶
PayPal can feel confusing at times with what you can and can’t do. So let’s recap a few important questions.
What do you need to open a PayPal account?
To open a personal PayPal account in India, you will need a valid phone number and email address.
Next, to make purchases, you will need to link a debit or credit card, or a bank account to your PayPal account. And make sure your bank account allows for international transactions.
For a business account, you will need to have a valid and registered business and a PAN number to open an account.
You will also need a business bank account that matches your PAN information. Besides these items, you may need to show additional documentation validating your business and line of work.
Is a PayPal account free?
It is free to open and have a PayPal account. But there are fees when you are using your PayPal account for transactions, especially for businesses.
First, you will be paying PayPal’s exchange rate on any international transactions.
PayPal has an exchange rate that is different from the mid-market exchange rate, and in that difference they are able to sneak in a fee. Even for individuals who are shopping online.
But if you are business, you will be paying additional fees for domestic and international transactions.⁷
Transactions Fee Standard India- Domestic 3% + ₹3 Domestic Debit card through RuPay, UPI, BHIM-UPI, or UPI QR Code 2.5% +₹3 International Transactions 4.4% + fixed fee The fixed fee for international transactions depends on the currency the payment is coming from. See below for what the fixed fee can look like:
Currency Home Country Fixed Fee Australia .30 AUD Euro .35 Euro US dollar .30 USD United Kingdom .20 GBP And in addition, you will be paying a currency conversion fee over and above the exchange rate.
⚠️ Currency Conversion Fee: 3% on top of the exchange rate Before making a payment, be sure to check the PayPal fees calculator to know exactly how much you will end up paying. Or use the compare tool to know all your options.
Is it safe to open a PayPal account?
PayPal is absolutely safe to open. As one of the oldest running global payment platforms, PayPal offers 24/7 online fraud monitoring and selling protection, and 180 day buyer protection for refunds. Many well known global brands use PayPal as a payment gateway.
PayPal has a robust customer service with a resolution center, community support and customised help for any issues with your account.
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