Seeing a hell lot of threads about how Paypal is fucking Indians over and over, so to further prevent such threads, here is a way to sort things out and get paypal flexible again.


What Indians face currently :

* Indian Paypal accounts are receive only accounts. (without a CC)
* Forced autowithdrawal set to daily.
* Maximum amount in a single transaction : $500
* Cant send/receive gift payments.


So, I know you people want to use paypal to pay for your stuffs, and deal with the disputes and all those. And many of you people here may not be having a credit card. (May be because you are younger than 18, or may be because you dont have an job to submit an income proof).

So here is what I did :

1. Went to ICICI Bank. Good Customer Service as expected and they took me to the general manager's cabin and offered me a tea
2. Got the forms to start a new account.
3. Tell them it is to get a cc by a FD collateral. Or I mean, tell them that you are there to put an FD to get a cc linked with the FD.
4.Fill in the form. Dont forget to bring the original of your Pan Card and Driving license/Voters ID.

5. Well, I dont have any of them. I was with my dad and the account is going to be in his name.

6. Fill in the nominee part. You will need some another paper works if the nominee is below 18, so I had my moms name there. (Make sure you note her date of birth)

Now, You can have 2 kind of accounts.

1. Minimum balance = Rs 10,200 and that must be maintained all through out. (You will get a limit on daily transaction amount)

2.This account doesnt need a minimum balance, but it must have a value of Rs 50,000 in transactions within 3 months.

I opted for the first one.


So, it took 4 days for the account activation. Went to bank again and deposited 25k to the bank, and changed it to FD and requested for a Credit Card. It will take another 21 days to get the cc.


Credit Card will have a monthly limit of 75% of the FD. No taxes, no interest and only they charge is 4% for late fee.
I am yet to receive my Visa CC



PS : You will receive a VISA Debit card within 7 days of account creation. A sexy one actually And you also get netbanking without any other paper works.


You can also make a VCC by netbanking. Thats a plus

*Thanks to Bigbuddy and Bezo*


Yet another method :

Originally Posted by jsurya

I applied a new savings account in ICICI Bank with this link
http://www.b2.icicibank.com/

This account is branch free banking and only works for online transactions. So, No Plastic Cards, No Cheques, No paperwork (only during application process) other than no paperwork.After online application submitted, the next day a guy came from the Bank and filled up everything and got the signs. After 10+ days, I got the login details of the account!

Features:
No Minimum Balance Requirements, so no AQB Charges!

You will get a Ewallet Visa Virtual Card, the 16 digital number is permanent for you .I added the card to my paypal account and so for pays the bill with the card via Paypal.

You should have got your debit card at the time of account opening in welcome kit..

Anyways, you can have this service from HDFC and Axis also, not sure about other banks. Axis gives you 80% of your FD value as credit limit and you can also make unlimited VCCs. HDFC account also gives you VCCs..

Also, why do you say you can make only one VCC.. it should be unlimited...

Originally Posted by extremephp

Seeing a hell lot of threads about how Paypal is fucking Indians over and over, so to further prevent such threads, here is a way to sort things out and get paypal flexible again.


What Indians face currently :

* Indian Paypal accounts are receive only accounts. (without a CC)
* Forced autowithdrawal set to daily.
* Maximum amount in a single transaction : $500
* Cant send/receive gift payments.


So, I know you people want to use paypal to pay for your stuffs, and deal with the disputes and all those. And many of you people here may not be having a credit card. (May be because you are younger than 18, or may be because you dont have an job to submit an income proof).

So here is what I did :

1. Went to ICICI Bank. Good Customer Service as expected and they took me to the general manager's cabin and offered me a tea
2. Got the forms to start a new account.
3. Tell them it is to get a cc by a FD collateral. Or I mean, tell them that you are there to put an FD to get a cc linked with the FD.
4.Fill in the form. Dont forget to bring the original of your Pan Card and Driving license/Voters ID.

5. Well, I dont have any of them. I was with my dad and the account is going to be in his name.

6. Fill in the nominee part. You will need some another paper works if the nominee is below 18, so I had my moms name there. (Make sure you note her date of birth)

Now, You can have 2 kind of accounts.

1. Minimum balance = Rs 10,200 and that must be maintained all through out. (You will get a limit on daily transaction amount)

2.This account doesnt need a minimum balance, but it must have a value of Rs 50,000 in transactions within 3 months.

I opted for the first one.


So, it took 4 days for the account activation. Went to bank again and deposited 25k to the bank, and changed it to FD and requested for a Credit Card. It will take another 21 days to get the cc.


Credit Card will have a monthly limit of 75% of the FD. No taxes, no interest and only they charge is 4% for late fee.
I am yet to receive my Visa CC



PS : You will receive a VISA Debit card within 7 days of account creation. A sexy one actually And you also get netbanking without any other paper works.


You can also make a VCC by netbanking. Yeah, sadly, just one.

*Thanks to Bigbuddy and Bezo*

i got my ICICI for more thn a year..
I din't apply for CC till now .
Gonna apply it soon whn i have time .. Whn i am free

I have done it bit differently...

I applied a new savings account in ICICI Bank with this link
http://www.b2.icicibank.com/

This account is branch free banking and only works for online transactions. So, No Plastic Cards, No Cheques, No paperwork (only during application process) other than no paperwork.

After online application submitted, the next day a guy came from the Bank and filled up everything and got the signs. After 10+ days, I got the login details of the account!

Features:
No Minimum Balance Requirements, so no AQB Charges!

You will get a Ewallet Visa Virtual Card, the 16 digital number is permanent for you and nothing like expiry after 24 hours like VCC, I added the card to my paypal account and so for pays the bill with the card via Paypal.

You can deposit the money from your other bank accounts.

They need other bank 6 month statements, Pan Card, Address proof, for account opening! No need to go to the bank!

Another way
Using HDFC VCC, if you have savings account with them, you can load the amount to VCC with savings balance, but it will expire after 24 hours, before I used this for payments, but now using ICICI ewallet.

Originally Posted by imserious

You should have got your debit card at the time of account opening in welcome kit..

Anyways, you can have this service from HDFC and Axis also, not sure about other banks. Axis gives you 80% of your FD value as credit limit and you can also make unlimited VCCs. HDFC account also gives you VCCs..

Also, why do you say you can make only one VCC.. it should be unlimited...

I wanted my name on the debit card. So I declined the instant kit. (And it was out of stock too.)

Well, the papers said it is just one VCC.

I personally dont need VCCs, or even that debit card. So I didnt bother much into those.

waste of time you are just saying to buy a credit card, we already know that

Well, HDFC has limited itself to only 5 VCCs per day itself and you need an ICICI Credit Card and not a Debit Card to create VCCs.

@extremephp Thanks for the thread.
BTW What is FD collateral??

Originally Posted by savagepriest

waste of time you are just saying to buy a credit card, we already know that

Sorry if I wasted your time.

But until I saw this in someother part of this forum, I never knew I could get a VCC without a job (income proof).

Sorry again

Originally Posted by microsoft

@extremephp Thanks for the thread.
BTW What is FD collateral??

Thats what the bank called it.

For the bank giving us a credit card with a credit limit, we must have a collateral there. and FD is the collateral for this one.

Originally Posted by jsurya

I have done it bit differently...

I applied a new savings account in ICICI Bank with this link
http://www.b2.icicibank.com/

This account is branch free banking and only works for online transactions. So, No Plastic Cards, No Cheques, No paperwork (only during application process) other than no paperwork.

After online application submitted, the next day a guy came from the Bank and filled up everything and got the signs. After 10+ days, I got the login details of the account!

Features:
No Minimum Balance Requirements, so no AQB Charges!

You will get a Ewallet Visa Virtual Card, the 16 digital number is permanent for you and nothing like expiry after 24 hours like VCC, I added the card to my paypal account and so for pays the bill with the card via Paypal.

You can deposit the money from your other bank accounts.

They need other bank 6 month statements, Pan Card, Address proof, for account opening! No need to go to the bank!

Another way
Using HDFC VCC, if you have savings account with them, you can load the amount to VCC with savings balance, but it will expire after 24 hours, before I used this for payments, but now using ICICI ewallet.

well this is a good slice of information.. !
well its hard to maintain money online like 10k as a average of 3 month.. i spend my money with icici card.. it gets empty very soon .. ! lazy to go and deposit the money
well dude good info
Thanks

what this all about?
get a CC from ICICI and make a VCC on that?
Then what?

Originally Posted by Subject

what this all about?
get a CC from ICICI and make a VCC on that?
Then what?

Was for someone who got no income proof to get a cc

Originally Posted by Subject

what this all about?
get a CC from ICICI and make a VCC on that?
Then what?

Nope. Its about getting a CC easily without showing any income proof or any other hassle, so that you can use it with Paypal without the need of any middle men like Entropay (which charges a lot of fee). VCC is just like an add-on.

Thanks extremephp for this detailed post! +Repped

Ya I've ICICI instant credit card issued against the FD of 20k and guess what, I don't have to maintain that 10,000 also because my account is zero balance account

Originally Posted by daisy447

Ya I've ICICI instant credit card issued against the FD of 20k and guess what, I don't have to maintain that 10,000 also because my account is zero balance account

How did you get one like that

Hey extremephp,
you mentioned " Maximum amount in a single transaction : $500 "
So what does it actually mean?

and

can any one explain me the difference b/w personal,primiere and business paypal
i am in personal now,getting more payments
should i need to upgrade for premiere

Originally Posted by mangobajito

Hey extremephp,
you mentioned " Maximum amount in a single transaction : $500 "
So what does it actually mean?

and

can any one explain me the difference b/w personal,primiere and business paypal
i am in personal now,getting more payments
should i need to upgrade for premiere

If someone wants to send $501 to your paypal account, he wont be able to send it to you. Thats what I meant.

And to the second part of the question,

Personal

Free to register and buy. The perfect account for individuals who want to shop and buy online. You can use this account to make and receive payments for goods and services.

Premier

Free to register and buy. Low fees for receiving money
The perfect account for casual sellers who mostly sell and occasionally buy online. You can use this account for making occasional sales and purchases online.

Business

Free to register and buy. Low fees for receiving money
The account for business customers who operate as a company with high transaction volumes. You can accept all payment types for low fees.


If you deal with more no. of transactions, I recommend you upgrade to premiere or business account. Personal is seriously not for us
Thanks

Originally Posted by extremephp

If someone wants to send $501 to your paypal account, he wont be able to send it to you. Thats what I meant.

And to the second part of the question,

Personal

Free to register and buy. The perfect account for individuals who want to shop and buy online. You can use this account to make and receive payments for goods and services.

Premier

Free to register and buy. Low fees for receiving money
The perfect account for casual sellers who mostly sell and occasionally buy online. You can use this account for making occasional sales and purchases online.

Business

Free to register and buy. Low fees for receiving money
The account for business customers who operate as a company with high transaction volumes. You can accept all payment types for low fees.


If you deal with more no. of transactions, I recommend you upgrade to premiere or business account. Personal is seriously not for us
Thanks

Thanks mate,
so if a cpa network sends 1k$ at once what happens
and how the people recieving large amounts in paypal from cpa betworks
[sorry paypal noob here]

Originally Posted by Subject

what this all about?
get a CC from ICICI and make a VCC on that?
Then what?

If you already have a CC then no problem for you and these methods for the people who don't have CC with them!

In my method, explained couple of posts back, no need to create VCC every time for payments, you will get a Virtual Credit Card permanently (its called ewallet on ICICI) and can add the card details in paypal to verify the account and make payments online. This works great for Indians.

You can load funds to the card via other bank account to ICICI Branchfree account and then load the funds to VCC.

@All

How much are VCC safe?

I mean my main problem is the taxes applied by Paypal in currency conversion!!!

I have to pay 2.5% fee to get the money to my bank then they will charge my CC again 2.5% as currency conversion fee to buy online!!

So my question is what if i open a US or any non- Indian paypal account and verify it with VCC and fill it with a little amount like 100$ per month from my customers to pay off my monthly hosting and sever costs?

Will there be any problem?

Thanks!

Hey,

Is there no one interested in replying to me??

Why to travel so long

Go entropay route!

You can get cc on the basis of FD from any nationalised banks in india. you get the 75% of the amount of FD deposited in that bank. It applies to all most all nationalised banks in india.It takes atleast 21 days in all banks to receive one.

Originally Posted by gowithgaurav

@All

How much are VCC safe?

I mean my main problem is the taxes applied by Paypal in currency conversion!!!

I have to pay 2.5% fee to get the money to my bank then they will charge my CC again 2.5% as currency conversion fee to buy online!!

So my question is what if i open a US or any non- Indian paypal account and verify it with VCC and fill it with a little amount like 100$ per month from my customers to pay off my monthly hosting and sever costs?

Will there be any problem?

Thanks!

One problem, how will you send them the docs when they "limit" your account?

Are there just 2 banks offering such net banking services in Ur country? and then there was an old man known ANNA HAZARE phew! I hope I got that one right!! God knows what you people land up in.. :P SCAMS SCAMS

I got my debit card and CC instantly (but,obviously without my name on that)

Originally Posted by jsurya

I have done it bit differently...

I applied a new savings account in ICICI Bank with this link
http://www.b2.icicibank.com/

This account is branch free banking and only works for online transactions. So, No Plastic Cards, No Cheques, No paperwork (only during application process) other than no paperwork.

After online application submitted, the next day a guy came from the Bank and filled up everything and got the signs. After 10+ days, I got the login details of the account!

Features:
No Minimum Balance Requirements, so no AQB Charges!

You will get a Ewallet Visa Virtual Card, the 16 digital number is permanent for you and nothing like expiry after 24 hours like VCC, I added the card to my paypal account and so for pays the bill with the card via Paypal.

You can deposit the money from your other bank accounts.

They need other bank 6 month statements, Pan Card, Address proof, for account opening! No need to go to the bank!

Another way
Using HDFC VCC, if you have savings account with them, you can load the amount to VCC with savings balance, but it will expire after 24 hours, before I used this for payments, but now using ICICI ewallet.

How do you withdraw money from this a/c?

Originally Posted by pratishtha

I got my debit card and CC instantly (but,obviously without my name on that)

You can apply for a new card with your name printed.

Sorry bro, I didn't check this thread after then..!

This ICICI bank account has the option to transfer the money to other bank accounts, but I have not tried yet, as I am currently using only for payments to made through Paypal and any other online payments.

So, whenever I need to pay through paypal or with CC, I load the money from the other bank account to this account and if any balance in the card, it will used for later transactions, it won't expired like VCC!!

Originally Posted by penpal6

How do you withdraw money from this a/c?

thanks for good share.

Originally Posted by mangobajito

Hey extremephp,
you mentioned " Maximum amount in a single transaction : $500 "
So what does it actually mean?

and

can any one explain me the difference b/w personal,primiere and business paypal
i am in personal now,getting more payments
should i need to upgrade for premiere

you should start getting premier account now.. to avoid being in trouble when paypal attacks..

Originally Posted by LX911

Are there just 2 banks offering such net banking services in Ur country? and then there was an old man known ANNA HAZARE phew! I hope I got that one right!! God knows what you people land up in.. :P SCAMS SCAMS

BEWARE ... There Maybe Some Fidayeen Beside You Wanting To Blow Himself

Originally Posted by jsurya

I have done it bit differently...

I applied a new savings account in ICICI Bank with this link
http://www.b2.icicibank.com/

This account is branch free banking and only works for online transactions. So, No Plastic Cards, No Cheques, No paperwork (only during application process) other than no paperwork.

After online application submitted, the next day a guy came from the Bank and filled up everything and got the signs. After 10+ days, I got the login details of the account!

Features:
No Minimum Balance Requirements, so no AQB Charges!

You will get a Ewallet Visa Virtual Card, the 16 digital number is permanent for you and nothing like expiry after 24 hours like VCC, I added the card to my paypal account and so for pays the bill with the card via Paypal.

You can deposit the money from your other bank accounts.

They need other bank 6 month statements, Pan Card, Address proof, for account opening! No need to go to the bank!

Another way
Using HDFC VCC, if you have savings account with them, you can load the amount to VCC with savings balance, but it will expire after 24 hours, before I used this for payments, but now using ICICI ewallet.

And How Much Is The Starting Cost ?

if someone want to buy my Indian verified PayPal account which have $56 in it then just PM me Thanks

Originally Posted by hurabbas

if someone want to buy my Indian verified PayPal account which have $56 in it then just PM me Thanks

What is your Paypal name?

hi all, i'm looking how to open a bank account in india if you are not indian resident?need it for vcc. Maybe indian residents can help me?

Thanx for the info. Nice thread, helped me a lot!
Here u can hav more info

(e-wallet card= vcc here) Should Have internet baking a/c

Axis Bank e-Wallet Card - Making your online shopping more secure-
e-Wallet Card is an electronic card which works like a credit or a debit card for making secure online payments towards a merchant. It can be created by all Axis Bank internet banking customers and also no registration is required for the same.

The main benefit of this card is that the debit/credit card number is not compromised on an unknown website.

Allow me to ask a stupid question: Most people in this forum are Indians? Sorry, I'm just curious.

i already apply to open an account with ICICI but i received an email from the said they cannot approve it.
there is selected country only outside India that can apply for ICICI account.

Originally Posted by jsurya

I have done it bit differently...

I applied a new savings account in ICICI Bank with this link
]

This account is branch free banking and only works for online transactions. So, No Plastic Cards, No Cheques, No paperwork (only during application process) other than no paperwork.

After online application submitted, the next day a guy came from the Bank and filled up everything and got the signs. After 10+ days, I got the login details of the account!

Features:
No Minimum Balance Requirements, so no AQB Charges!

You will get a Ewallet Visa Virtual Card, the 16 digital number is permanent for you and nothing like expiry after 24 hours like VCC, I added the card to my paypal account and so for pays the bill with the card via Paypal.

You can deposit the money from your other bank accounts.

They need other bank 6 month statements, Pan Card, Address proof, for account opening! No need to go to the bank!

Another way
Using HDFC VCC, if you have savings account with them, you can load the amount to VCC with savings balance, but it will expire after 24 hours, before I used this for payments, but now using ICICI ewallet.

buddy, it says that this service is available only in selected cities!.
my city is not in the list . should i try?

Why you need to go to so much trouble to get a cc ? You can try out a vcc
I have been using a vcc from entropay for months now. There are some security measures to pass the system.

And i believe the maximum amount for transaction right now is $3000. RBI havent came up with anything new. So dont know how paypal changed it so fast.