Credit card for paypal against deposit? help!!!

S

sam000

Adept
I am a student but i want to get a CC to verify my paypal for seedbox.....can i get CC against deposit from nationalized banks (i dont trust private banks) ....I can deposit upto Rs 1,00,000 as deposit ....need the card only for verifying paypal wont be using it for any other purpose....even if the card has only Rs 5000 as the limit it will do.

Will banks like indian bank,canara bank,syndicate bank etc give me CC against fixed deposit as i have no income proof :huh:
 
Just open an account in SBI & apply for the SBI Yuva Debit card (VISA). It works with PayPal without any issues. There are no charges or amount limitations for the card.
 
pauldmps said:
Just open an account in SBI & apply for the SBI Yuva Debit card (VISA). It works with PayPal without any issues. There are no charges or amount limitations for the card.
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You mean that sbi debi card works with pay pal ? how to add this card to paypal can you please elaborate?

ok just googled seems like it does not work anymore....can i verify paypal with a bank account?
 
sam000 said:
You mean that sbi debi card works with pay pal ? how to add this card to paypal can you please elaborate?

ok just googled seems like it does not work anymore....can i verify paypal with a bank account?
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No. You need a CC to verify. AFAIK VCC from HDFC doesn't work anymore. Once you get a card, you have the option within your Paypal dashboard to add/edit CC/DC. Add a CC there and click on a link that says verify and follow the procedure.
How to Add a Credit Card to a PayPal Account | eHow.com
 
varkey said:
^ AFAIK HDFC Vcc still works. I used it to make a payment only day before.

You can also verify your account with your bank account -- How To Verify Paypal Account Without Credit Card in India

If you only need the card to verify, do the above or if you need a CC you can get it from SBI for a FD of min Rs 10000 and the card limit will be 90% of the FD.
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Wow so with only Rs 10,000 i can get the CC? do they ask for income proof? i dont have any income as i am a student please clarify this point.
 
^ Yes. The 10k will remain as a FD as long as you use the credit card, you cannot close the FD account alone. And no need for any income proof documents etc.
 
@sam000

First of all you need to be 18 years old. And no you don't need to give income proof or any such thing. They will put the 10,000 rupees in fixed deposit in your name and issue an instant CC to you. You need to fill an application wherein you need to furnish ID proof, age proof, address proof and couple of passport size photographs. But this kind of CC will have an annual fees on it, something like Rs.500 but you will earn more than 500 as interest from your FD, so you are not losing anything. You can also try ICICI Bank if interested, where the deposit amount is 20k minimum.
 
varkey said:
^ Yes. The 10k will remain as a FD as long as you use the credit card, you cannot close the FD account alone. And no need for any income proof documents etc.
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that sounds easy will go to the bank on monday.

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dreamCatcher said:
@sam000

First of all you need to be 18 years old. And no you don't need to give income proof or any such thing. They will put the 10,000 rupees in fixed deposit in your name and issue an instant CC to you. You need to fill an application wherein you need to furnish ID proof, age proof, address proof and couple of passport size photographs. But this kind of CC will have an annual fees on it, something like Rs.500 but you will earn more than 500 as interest from your FD, so you are not losing anything. You can also try ICICI Bank if interested, where the deposit amount is 20k minimum.
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Anything upto 100K is ok for me but i have this unused ICICI account with zero balance its been piling up the penalty charge for the last 10 months so if i go for icici they will forcefully deduct those charges for not maintaining the min balance.You mean they will give the CC immediately on the spot itself?

one OT question:

I have changed my residence so the icic guys dont know where i stay.....but i heard they can track me if i have another account in some other bank (in my case SBI)....can ICICI take my money for those penalty charges from my SBI account forcefully?
 
sam000 said:
I am a student but i want to get a CC to verify my paypal for seedbox.....can i get CC against deposit from nationalized banks (i dont trust private banks) ....I can deposit upto Rs 1,00,000 as deposit ....need the card only for verifying paypal wont be using it for any other purpose....even if the card has only Rs 5000 as the limit it will do.

Will banks like indian bank,canara bank,syndicate bank etc give me CC against fixed deposit as i have no income proof :huh:
Click to expand...

Lat time when I check AXIS bank offers Credit Card agains Rs.20000/- FD. Check again with them. When questioned about Credit Card arises ALL BANKS are EQUAL (Hum Sab Chxx hai). Timely & full payment is only way to avoid mess.
 
dreamCatcher said:
.... But this kind of CC will have an annual fees on it, something like Rs.500 but you will earn more than 500 as interest from your FD, so you are not losing anything. You can also try ICICI Bank if interested, where the deposit amount is 20k minimum.
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I have a Credit Card from ICICI based on an FD but I was never charged any annual fees, did they introduce it recently?

@sam000 : In the case of ICICI, if you have an account with them already they will give the card on the spot and it will be activated in 1-2 working days. Now you can also apply for the Instant Credit Card + FD through ICICI Netbanking itself. Your account needs to be in good standing for availing any service like this, so they will definitely ask you to clear any negative balance etc if you go to ICICI Bank.
 
But i dont think we can buy anything from ebay or other sites since these Instant Fixed Deposit Credit Cards doesnt have Name of card holder printed on Credit card and if u buy anything lets say from ebay u have to give name of the card holder on the credit card.

Correct me if m wrong.
 
You just have to call the CC and ask them to send a personalised card, you'll get it in a weeks time with your name printed on it.

But in any case the first few days after I got the card with no name, I never had any problem in making online transactions. I don't think eBay etc verifies the name.

Sent from my ZTE Blade using Tapatalk
 
^ In case of ICICI, if you have an existing relationship with them you will get the credit card on the spot, but will take 1-2 working days for it to be active.
 
techpal said:
Ok. If there is no ICICI bank account before then how much time it takes for Instant fixed deposit credit card?
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2 weeks maybe.....i am going to sbi bank tomorrow to get this fixed depost card dont know how long these guys take to issue one.Also will check indian bank,bank of india etc and will post the result here.

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Emperor said:
Lat time when I check AXIS bank offers Credit Card agains Rs.20000/- FD. Check again with them. When questioned about Credit Card arises ALL BANKS are EQUAL (Hum Sab Chxx hai). Timely & full payment is only way to avoid mess.
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I need this CC only for paypal so no problem .
 
sam000
I have changed my residence so the icic guys dont know where i stay.....but i heard they can track me if i have another account in some other bank (in my case SBI)....
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All financial institutions and service providers (like the telephone/mobile companies) have agreed on a centralized database to collect, store and access the customers info. This is like a precautionary measure before they give you service or enroll you into their offering.

sam000
can ICICI take my money for those penalty charges from my SBI account forcefully?
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No, they cannot take money from your non ICICI account forcefully. But like I said, they will eventually come to know of your SBI account and this may affect your relationship with SBI as you are a defaulter.

varkey
I have a Credit Card from ICICI based on an FD but I was never charged any annual fees, did they introduce it recently?
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I am using the ICICI instant CC for the past one year(upon your advise if you remember) and it has an annual charge of Rs.500, irrespective of the deposit size.

techpal
But i dont think we can buy anything from ebay or other sites since these Instant Fixed Deposit Credit Cards doesnt have Name of card holder printed on Credit card and if u buy anything lets say from ebay u have to give name of the card holder on the credit card.
Correct me if m wrong.
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Most of the time these are full fledged internationally accepted CCs and behave just like a regular CC. It doesn't matter whether your name is written on the card or not, it still shows your name when you use it. They will programme it before giving it to you. I am still using the same card and have not bothered to request a personalized card.

varkey
In case of ICICI, if you have an existing relationship with them you will get the credit card on the spot, but will take 1-2 working days for it to be active.
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techpal
Ok. If there is no ICICI bank account before then how much time it takes for Instant fixed deposit credit card?
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Thats right, but you need to be their good customer for at least a year to get the card on the spot. If not they will take a few days to check your credentials before issuing the card.

sam000
I need this CC only for PayPal so no problem .
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Sam just remember, the FD serves as a security for the card. At the end of the year if you have not paid your dues, they will go straight for the FD amount.
Calculate how much credit you want on the card and go accordingly with the deposit. Because if you misplace the card and if it gets misused, they have your deposit amount and will not hesitate to use it to cover the damages. So the minimum deposit is the safest bet if its just for PayPal use. :)
 
sam000 said:
You mean that sbi debi card works with pay pal ? how to add this card to paypal can you please elaborate?

ok just googled seems like it does not work anymore....can i verify paypal with a bank account?
Click to expand...
Sorry for the late reply. Huge powercut problem in my area after heavy downpour. :(

I am not talking about the SBI Maestro Debit card. It doesn't work for PayPal.

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What I am talking about is the SBI Yuva card. It is a VISA certified Debit card which works flawlessly to verify PP.

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I recommended this to you because there is no charges for the card & no minimum balance limitations.

See the details here:

STATE BANK OF INDIA :: INDIA's LARGEST BANK
 
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