Alternatives to Paypal in India?

31 replies
Hi,
I've got an issue and I was wondering if you warriors could help me.
I got in touch with someone from India, through a friend of mine, and I would like to hire her to do some online work.
The problem is that she doesn't have a paypal account and she tells me that it is quite hard to get one there.
She does have a bank account and she asked me if I could do a bank transfer, which would probably be very expensive for me.
Any suggestions, anyone?
Thanks a lot!
#alternatives #india #paypal
  • Profile picture of the author wrongnumber
    Originally Posted by creative View Post

    Hi,
    I've got an issue and I was wondering if you warriors could help me.
    I got in touch with someone from India, through a friend of mine, and I would like to hire her to do some online work.
    The problem is that she doesn't have a paypal account and she tells me that it is quite hard to get one there.
    She does have a bank account and she asked me if I could do a bank transfer, which would probably be very expensive for me.
    Any suggestions, anyone?
    Thanks a lot!
    hi creative,

    i live in India, and the Paypal account is not at all difficult to get, i have one, my friends too have one each..., you just need a PAN card, because you cannot receive any money as gift, it is always is counted as income, moreover, you cannot receive more than $500 in 24 hours... plus PP fees extra, then at current $-INR rate the amount will be converted and transferred to her bank account within 4 days of applying, the process is very simple, and i do it many times a week.

    Hope this helps..

    PS: you can try Western Union Money Transfer... dunno the rates but it works... http://www.westernunion.com
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    • Profile picture of the author creative
      Thanks a lot!
      Just a quick question: what is a PAN card? Is is something easy to get if you have a normal bank account?
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      • Profile picture of the author renukoot
        Originally Posted by creative View Post

        Thanks a lot!
        Just a quick question: what is a PAN card? Is is something easy to get if you have a normal bank account?
        For information PAN Card - Permanent Account Number allotted by Income Tax Department of India. It mail purpose is to get the link the details on how you getting the money.

        Paypal members had to update it in Paypal. Bank Account opening is also linked with the PAN Card details to keep monitor of financial activity of any individual & also in case of Business Entity (in that case PAN number is of the Business)
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      • Profile picture of the author athink
        Permanent Account Number (PAN) refers to a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department in India. It is now compulsory to quote PAN in all documents pertaining to financial transactions notified from time to time by the Central Board of Direct Taxes, such as sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding a certain limit to hotels and restaurants, or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Income Tax Department has ensured that applying for a PAN is a simple and convenient procedure. The PAN application can download from the website of UTI Investor Services Ltd (the authorized agency to manage IT PAN Service Centers in various cities) or from the website of IT PAN Service Centers and TIN Facilitation Centers. Application shall have to be accompanied by a proof of identity as well as a proof of residence. The filled application form has to be submitted at your nearest IT PAN Service Centre or TIN Facilitation Centre along with the requisite fee. The location of such centers can be searched online by using the facility site.

        this site may help you check moneymoney.co.in/pancard.html
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  • Profile picture of the author renukoot
    Options are now a days available in india are Alertpay & Moneybookers. So far both working for me a very good alternative.
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    • Profile picture of the author creative
      Originally Posted by renukoot View Post

      Options are now a days available in india are Alertpay & Moneybookers. So far both working for me a very good alternative.
      Thank you!
      Do you think theses are better than paypal in terms of fees, etc?
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  • Profile picture of the author renukoot
    Both these are around the corners. However Paypal was quite less.
    My Ranking for fees & others: 1) Paypal 2) Moneybookers & 3) Alertpay
    Paypal has many issues now read
    https://www.thepaypalblog.com/2011/0...ent-for-india/
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  • Profile picture of the author subho67
    I am too an Indian and I can say paypal is the best option.By the way can you tell me what work are you outsourcing.Thanks
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    • Profile picture of the author creative
      Originally Posted by subho67 View Post

      I am too an Indian and I can say paypal is the best option.By the way can you tell me what work are you outsourcing.Thanks
      Thanks, I'll tell her to get a paypal account. If not, maybe we can try with the other alternatives.
      The work that I am outsourcing is article writing.
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  • Profile picture of the author MatthewNeer
    AlertPay my friend, AlertPay.

    Basically PayPal for countries that PayPal doesn't like.
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    • Profile picture of the author creative
      Thanks everyone for your answers!
      You, warriors, ROCK!
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  • Profile picture of the author godric20
    Actually moneybookers is most cost effective of all of them, then Alertpay and at last paypal. Paypal restrictions are non-realistic. you are paying approx RS 49 per dollar spent, whereas the conversion is 44 per dollar. Moneybookers save a lot of money on transactions.
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    • Profile picture of the author 2233190
      Originally Posted by godric20 View Post

      Actually moneybookers is most cost effective of all of them, then Alertpay and at last paypal. Paypal restrictions are non-realistic. you are paying approx RS 49 per dollar spent, whereas the conversion is 44 per dollar. Moneybookers save a lot of money on transactions.
      I use moneybookers but could not verify my credit card.
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  • Profile picture of the author manikah
    Paypal alternative may be moneybooker is effective for India.
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    • Profile picture of the author drskn08
      hi guys,
      I wanna know that
      (1) do we need a pan card while making an account in paypal/moneybookers?

      (2)and do we need to change foreign currency into local currency or it is converted automatically and we can withdraw directly in local currency.

      Thanking you in advance !
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      • Profile picture of the author nrupen
        Originally Posted by drskn08 View Post

        hi guys,
        I wanna know that
        (1) do we need a pan card while making an account in paypal/moneybookers?

        (2)and do we need to change foreign currency into local currency or it is converted automatically and we can withdraw directly in local currency.

        Thanking you in advance !
        According to rules and regulations set by Indian Government for any kind of online transaction or online transaction service you must provide PAN card number as well as transaction purpose code (Payment systems/processors usually handle purpose code problems so user does not have to bother about it). Any payment processing system breaking this law will soon come under radar and Indian Government is pretty well known for providing good butt kick to people whose transaction usually works online in illegal way(for an exception you are politician or somehow related to them).
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        • Profile picture of the author drskn08
          thanks guys for replying.
          few more questions..
          (1)@ nrupan- is it true that now we can make transit of 3000/- instead of 500/- ?
          (2) can we use SBI ATM cum Debit card for money withdrawl once money has transfered to local bank account ?
          (3) and what about currency conversion.. do we recieve money in dollars/euro or other foreign currency and then we have to convert them into INR in any branch of bank or its just like withdrawing INR from ATM ?
          (4) There are 4 types of account- personal,premier,business..
          which is suitable for me. I have just to receive money from abroad for my sold items...
          please reply as soon as possible..
          thank you.
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          • Profile picture of the author nrupen
            Originally Posted by drskn08 View Post

            thanks guys for replying.
            few more questions..
            (1)@ nrupan- is it true that now we can make transit of 3000/- instead of 500/- ?
            (2) can we use SBI ATM cum Debit card for money withdrawl once money has transfered to local bank account ?
            (3) and what about currency conversion.. do we recieve money in dollars/euro or other foreign currency and then we have to convert them into INR in any branch of bank or its just like withdrawing INR from ATM ?
            (4) There are 4 types of account- personal,premier,business..
            which is suitable for me. I have just to receive money from abroad for my sold items...
            please reply as soon as possible..
            thank you.
            - Last month PayPal sent me message about RBI has raised limit from $500 to $3000, since then I haven't received any other email about reduction or increase in limit. So its true you can receive $3000 per transaction.

            - Yes you can use SBI ATM cum Debit Card to withdraw money once PayPal deposits it to your bank account.

            - So far as currency conversion factor is concerned all conversions are subjected to Indian Foreign Exchange Department standard conversion rates while receiving money, according to which per dollar costs Rs.47.12 approximately.

            - If you want to receive payments as an affiliate then its better to get premier. If you own your own shopping cart then business account is suitable.

            Note that when you'll receive payments standard conversion rates will be applied whereas when you'll make payments daily conversion rate will be applied.
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            • Profile picture of the author drskn08
              thank you rupen,
              but is there any difference b/w perSonal and premier account. i don't need a business account but i'm confused b/w personal and premier.
              and how much time does it take local bank for conversion of dollar/euro into INR ?
              Let me tell you. my photographs are sole through few sites and i need to get money from froeign countries for those sale.. so which one is suitable for me..?
              do u have any idea about moneybookers ? i heard they charge less for money withdraw compare to paypal...
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              • Profile picture of the author nrupen
                Originally Posted by drskn08 View Post

                thank you rupen,
                but is there any difference b/w perSonal and premier account. i don't need a business account but i'm confused b/w personal and premier.
                and how much time does it take local bank for conversion of dollar/euro into INR ?
                Let me tell you. my photographs are sole through few sites and i need to get money from froeign countries for those sale.. so which one is suitable for me..?
                do u have any idea about moneybookers ? i heard they charge less for money withdraw compare to paypal...
                There is not much difference between personal and premier account. Premier account offers few merchant services which personal account doesn't. Its easy to understand personal accounts aren't for any kind of business related transaction, you are selling something or getting commission for something means you are doing a business related transaction and you need either a premier or business account. So get a premier account.

                It doesn't take any time for conversion of any currency into INR since standard conversion rates are already set. It only takes 5-7 days for PayPal for transferring money to your bank account.

                I never used moneybooker I don't know anything about it. Lastly this is second time you misspelled my name, it really makes me angry if someone makes mistakes while writing my name. Are you not comfortable with English.
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  • Profile picture of the author onegoodman
    I think she can simply get AlertPay / Moneybooker account , they don't require any effort over there.
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  • Profile picture of the author nrupen
    Its easy to get a PayPal account, following are step by step process to get PayPal account if anyone has not yet tried to get one.

    - Create a bank account. Ask your bank for VISA verified debit card if you can't get a credit card. Usually all deliver it within 8 days. Prefer SBI for new account.

    - Visit a PAN card agent and ask him/her for application form for PAN card. Usually PAN card arrives within 15 days if address and phone number are correct and active. PAN card is also required for opening a bank account in India, a person can not open a bank account without PAN card as per regulations set by Indian Government and RBI.

    - Create a PayPal account, add your PAN card number, fill up bank details like account number, MCIR code and bank code. After doing so PayPal will send you verification amount within 7 days. Input that amount in bank account verification section and your account will become active to receive money. Last month RBI updated their rules according to which now a person in India can receive $3000 via PayPal instead of $500.

    - Add your credit card or debit card to PayPal so that you can use PayPal for sending amount.

    I hope this solves problem. If she still faces problem, let me know I'll be happy to help.
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  • Profile picture of the author eminc
    I will suggest you stick to PayPal only, if its not too much. As described above, in India, every money-holder should have a Permanent Account Number, and that's required for a PayPal account as well.

    If the other party is having a PAN, submitting paypal form takes barely 15-20 minutes, and the confirmation taks 1-2 days. It shouldn't be too much hard. Not able to declare PAN card in payments in India shows issues with taxes, because every transaction should go through the PAN so that the amount can be declared at the time of tax filing.

    Alternative methods include Wire Transfer and MoneyBooker, or instead you can send a check instead.

    Mohit
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  • Profile picture of the author PatchesDM
    I would suggest AlertPay if its available in India?
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  • Profile picture of the author lakshaybehl
    Originally Posted by creative View Post

    Hi,
    I've got an issue and I was wondering if you warriors could help me.
    I got in touch with someone from India, through a friend of mine, and I would like to hire her to do some online work.
    The problem is that she doesn't have a paypal account and she tells me that it is quite hard to get one there.
    She does have a bank account and she asked me if I could do a bank transfer, which would probably be very expensive for me.
    Any suggestions, anyone?
    Thanks a lot!
    Bank accounts aren't expensive... Find out what the real costs are. I don't think PayPal would be cheaper than online bank transfers.

    Also, PayPal is free. She can open one, and link her PayPal to her bank account for a free transfer of money from PayPal to bank.

    Then there is the Western Union Money Transfer.

    Hope that helps.

    -LB
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  • Profile picture of the author jahangir
    I shall recommend Moneybookers as an alternative for PayPal because they charge less and serve better.
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  • Profile picture of the author Amit Gupta
    alternatives try wiretransfer,chequepayment.......but check with your network which one they support...
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  • Profile picture of the author apoorv.parijat
    International bank transfers aren't expensive here in India. I'm not too sure what it'd cost in Spain but here, it costs Rs 500 ($10) fixed charges, Rs 150 ($3) currency exchange fees and 0.15% of the total amount that you are sending across.

    So, in total, it costs $13 + 0.15% of the total amount you're sending. Not too costly unless you're sending only a hundred dollars or so. I think it would be less expensive in Spain.

    PayPal is a good very option though. There are no hassles with a PP payment and it's rather easy to get an account created as well. You basically require a PAN card and a bank account. :-)
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  • Profile picture of the author Adam Johnson
    alternatives try wiretransfer,chequepayment.......but check with your network which one they support..Moneybookers is an alternative for PayPal they charge less and serve better...
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