Bank Account for PAYPAL

[anish_sha]

Guys, planning to open a new bank account to link it with Paypal and for other online shopping stuff..which will be the best for

1.Lowest minimum balance
2.Good service
3.Internet banking

Already have an ICICI account, everything is ok expect the minimum balance which is 10k

 

[varkey]

You cannot use a Bank Account to fund a PayPal payment. What you need is a Credit Card.

And for other online shopping stuff ICICI is really good.

 

[anish_sha]

You cannot use a Bank Account to fund a PayPal payment. What you need is a Credit Card.

And for other online shopping stuff ICICI is really good.

not even the debit card wont help???

 

[varkey]

^ No, most of the Indian Debit cards do not work with PayPal. You can however go for a HDFC Savings account and use the NetSafe Virtual Card facility they offer to use with PayPal.

 

[anish_sha]

how much is the min.balance for hdfc accnt?

 

[varkey]

^ The QAB is 10k for the normal savings account. They have other variants and options as well. Check HDFC site for more info

Online Savings Account: Personal Bank Account, Current Accounts & Fixed Deosits with HDFC Bank | Open Online Banking Accounts

 

[anish_sha]

I have an ICICI account with a debit card VISA, can i link it with paypal? i wont be transferring money from paypal account to my bank account only vice versa... heard that RBI has put new rules such that only if u have a credit card , then only we can transfer thru payapal... is tht true ?

 

[varkey]

Yes. You can use your bank account only for withdrawing money from PayPal. But you cannot use it for making payments with PayPal , for which you need a credit card.

 

[anish_sha]

Which would be the easiest and quickest method to get a Credit card (international , which can be used in all online sites) from HDFC? i dont have an account in HDFC now...

 

[NAV33N]

Which would be the easiest and quickest method to get a Credit card (international , which can be used in all online sites) from HDFC? i dont have an account in HDFC now...

ICICI Credit Card against Fixed Deposit of 20k or above,you'll get the card immediately & it will be activated within 7 days however it took 3 days max in my case.

 

[varkey]

^ +1 Mine was activated the next day itself. Using it for about 2.5 years now.

SBI also has this option and for that the minimum deposit amount is only 10k.

Sent from my ZTE Blade using Tapatalk

 

[adityamunshi]

My axis bank debit card works perfectly with Paypal and Google checkout. Minimum balance is 5k.