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How do I receive PayPal payments?
To comply with India’s financial regulations, you’ll need to provide additional information to confirm your identity before you can receive PayPal payments and withdraw funds from your PayPal account. Please complete the steps below:
- Go to your task dashboard.
- Follow the instructions on the page to:
- Add your PAN (Permanent Account Number)
- Add a Purpose Code
- Add your Indian bank account
Learn more on how to complete the identity confirmation.
After you complete the above steps, you’ll be able to receive PayPal payments, and withdraw up to $500USD per month from your PayPal account. You can further remove the withdrawal limit by confirming your bank account.
Adding a purpose code to your account:
In accordance with Indian regulations, you’re required to add a reason for your payments (also known as a "purpose code"). This helps the regulators to understand the exact nature of your cross-border transactions. This purpose code must be in place before you can withdraw money from your PayPal account to your local Indian bank account. You only need to add the purpose code once, and it’ll be used as the default reason for all your payments.
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