How to make betting deposits with PayPal in India
PayPal is an incredibly popular and common e-wallet and payment provider which can be used to transfer money between people and companies. PayPal was one of the first payment providers to really break through with online payments. Therefore, PayPal quickly became the most popular online payment provider.
As PayPals share of the market grew larger, so did their fees. Today, PayPal has some of the highest fees of any online payment provider. So if you decide to use PayPal to make a deposit on a betting site, be prepared to pay the fees associated with such a transfer.
On the other hand, PayPal does offer a high level of convenience, so you may actually find that the fees are worth it. There are both advantages and disadvantages to using PayPal in India, but if you have decided that making a deposit with PayPal is the way to go, then here is a guide that will show you exactly how to do that.
Yes, PayPal works in India. However, as an Indian resident, you will only be able to have a limited PayPal account. This means that you will not be able to have money standing in your PayPal account. The money will be withdrawn to your attached bank account. And to make payments with PayPal, you will need to have a bank card, such as a credit or debit card attached to your PayPal account. This is how PayPal works in India.
To successfully use PayPal in India, you must have an active bank account and a bank card
So without further ado, let us show you how to make a betting deposit with PayPal in India
Step 1: Open a PayPal account
Opening a PayPal account is easy. You just head over to Paypal.com and click on “Sign Up”. Then select the Personal account type and write your personal details such as name, date of birth, email address, et cetera. Then PayPal will send you a confirmation email. This step will not take more than 5 minutes to complete.
Add a payment card
Now that your PayPal account has been created, you can enter your dashboard. From here, you can proceed directly to adding a payment card. If you already have a bank card on hand, you can add it and begin to make payments immediately. After doing this, you would already be capable of making your first betting deposit via PayPal.
However, in order to withdraw money to your PayPal account (and to your bank account), there are a few additional steps you need to complete. You need to complete the account verification procedures. Let's have a look at how to do that.
Step 2: Verify your PayPal account
Verifying your PayPal account is an important step that you need to complete in order to withdraw money into your personal bank account. This verification process is done to ensure that the money does not originate from illegal activities such as terrorism or money laundering.
Verifying your PayPal account is simple, but it may take a couple of days to complete the process. This is because the PayPal staff must review the documents you provide them with before they can accept your account.
After opening your PayPal account, you will find a task board with the different tasks you need to complete in order to verify your Indian PayPal account.
To verify your account, you need to complete the following tasks:
- Confirm your email address
- Provide your PAN Card
- Add your bank account
- Provide "purpose of transactions".
Follow these steps to complete the verification process swiftly and efficiently.
Confirm your email address
This one is easy. Just open up your email account, find the email that was sent to you by PayPal and click the “confirm” button. After this, your email address will be confirmed.
Link your PAN Card
To verify your PayPal account, you need to provide your PAN card. This can be done easily by scanning a copy of your PAN card for the PayPal staff to review. After uploading a scanned copy of your PAN card, it will usually take 1-3 days to be verified.
Add your bank account
To use PayPal in India, you need to have a bank account linked. This is because the Indian government does not allow Indian residents to have money stored in e-wallets that are located outside India. So the money you receive on PayPal will be immediately transmitted to your personal bank account.
Therefore, you absolutely must have a personal bank account attached to your PayPal account. Otherwise, you will not be able to receive payments. Adding a bank account is simple and straightforward. You just type in your account details, and then PayPal will send 2 small transfers to your bank account which you need to confirm. That’s all.
Provide "purpose of transfer"
This step is fairly easy. You just need to select the purpose of your transactions from a long drop-down menu of options. It’s better to be honest here, so just select gambling and then proceed. This is the last step in the verification process.
Step 3: Deposit your money on a betting site
Now that you have added a bank card and completed the verification process, you are ready to make a deposit on a betting site using PayPal. Your account will also be ready to transmit withdrawals you make when you want to withdraw money out of the betting site again.
The next step is to select a betting site that accepts deposits by PayPal. Many betting sites do not accept PayPal deposits, but some do. One of the best is Royal Panda.
Royal Panda is a gambling site that recently opened its doors in India. They have gone a long way to attract Indian players, and to ensure that Indian players feel welcome on their site. For example, they accept Indian rupees, and they try to provide Indian players with convenient deposit methods.
Another great thing about Royal Panda is the superb welcome bonus they provide to all new players from India. On Royal Panda, you can have your first deposit doubled. So if you deposit Rs. 10,000, you will have a total of Rs. 20,000 to play with in the sportsbook, or in the fantastic Royal Panda online casino.
Click the green "Claim" button below to make a deposit on Royal Panda and start betting today!
Betting Sites that accept PayPal
The number of betting sites in India that accept PayPal is small, but here are some of the best ones.