Sending money from Punjab National Bank (PNB) to PayPal directly isn't a straightforward process, as PayPal doesn't directly integrate with Indian banks for direct transfers from the bank account to a PayPal balance. However, there are a few workarounds and alternative methods you can use to achieve your goal.
Let's explore these methods step by step. Which method sounds most convenient for you initially?
Method 1: Using Third-Party Services
Several third-party online platforms can act as intermediaries, allowing you to send money from your PNB account and have it deposited into your PayPal account.
Step 1: Research and Choose a Suitable Third-Party Service
- Explore your options: Look for reputable online money transfer services that operate in India and support transfers to PayPal. Some popular examples you might encounter include (but do your own research for the most up-to-date and suitable options):
- Remitly
- Xoom (a PayPal service, but often works as an intermediary)
- Wise (formerly TransferWise)
- OFX
- Check for PayPal integration: Ensure the service explicitly states that it can send money to a PayPal account in the recipient's country.
- Compare fees and exchange rates: Different services will have varying fees and exchange rates. Carefully compare these to find the most cost-effective option for your transfer amount. Look for transparency in their pricing structure.
- Read reviews and check reliability: Before committing to a service, read online reviews and check their reputation for reliability and customer support.
Step 2: Register and Set Up Your Account with the Chosen Service
- Sign-up process: Once you've chosen a service, you'll typically need to create an account on their platform. This usually involves providing your personal details, email address, and phone number.
- Verification: The service may require you to verify your identity by uploading documents such as your PAN card, Aadhaar card, or passport, as per KYC (Know Your Customer) regulations.
- Link your PNB bank account: You'll likely need to add your PNB bank account details to the platform. This might involve providing your account number, IFSC code, and account holder name.
Step 3: Initiate the Money Transfer
- Specify the recipient's PayPal details: You'll need to provide the recipient's full name (as it appears on their PayPal account) and their PayPal email address. Double-check these details carefully to avoid any errors.
- Enter the transfer amount: Specify the amount of money you want to send in Indian Rupees (INR). The service will usually show you the equivalent amount in the recipient's PayPal currency after applying their exchange rate and fees.
- Select your payment method: Choose your linked PNB bank account as the funding source for the transfer.
- Review and confirm: Carefully review all the transfer details, including the recipient's information, the amount, the fees, and the exchange rate, before confirming the transaction.
Step 4: Complete the Payment from Your PNB Account
- Payment instructions: The third-party service will provide you with instructions on how to complete the payment from your PNB account. This might involve:
- Net Banking transfer: You might need to log in to your PNB net banking portal and add the third-party service as a beneficiary and then initiate the transfer.
- UPI transfer: Some services might allow you to make the payment using UPI (Unified Payments Interface) linked to your PNB account.
- Follow the on-screen prompts: Carefully follow the instructions provided by the third-party service to ensure the payment is successful. You might receive an OTP (One-Time Password) on your registered mobile number for transaction authorization.
Step 5: Track the Transfer
- Confirmation: Once the payment is initiated, you should receive a confirmation from the third-party service.
- Tracking updates: Most services provide a tracking feature that allows you to monitor the progress of your transfer. You'll usually receive updates via email or within the platform.
Step 6: Recipient Receives Funds in their PayPal Account
- Processing time: The time it takes for the funds to reach the recipient's PayPal account can vary depending on the service and the recipient's country. It can range from a few hours to a few business days.
- Notification: The recipient should receive a notification from PayPal once the funds have been credited to their account.
Method 2: Using a Debit/Credit Card Linked to Your PNB Account (for Online Purchases/Payments from PayPal)
This method doesn't directly send money to a PayPal balance but allows you to fund online purchases or payments made through PayPal using your PNB-issued debit or credit card.
Step 1: Link Your PNB Debit/Credit Card to Your PayPal Account
- Log in to your PayPal account: Go to the PayPal website or open the PayPal mobile app and log in to your account.
- Navigate to 'Wallet' or 'Banks and Cards': Look for the 'Wallet' section or an option like 'Banks and Cards' within your PayPal account settings.
- Click 'Link a card': Select the option to link a new debit or credit card.
- Enter your PNB card details: Carefully enter your PNB debit or credit card number, expiry date, CVV (Card Verification Value), and billing address. Ensure the information matches the details associated with your card.
- Save the card: Once you've entered the details, click 'Save' or 'Link Card'. PayPal may perform a small temporary charge to verify the card, which will usually be refunded.
Step 2: Make Online Payments Using Your Linked PNB Card via PayPal
- Select PayPal at checkout: When making an online purchase on a website that offers PayPal as a payment option, choose PayPal as your payment method.
- Log in to your PayPal account (if prompted): You might be redirected to the PayPal login page to authenticate your account.
- Choose your linked PNB card: Review the payment details and ensure your linked PNB debit or credit card is selected as the funding source.
- Complete the transaction: Click 'Pay Now' or a similar button to finalize the payment. The amount will be deducted from your linked PNB card.
Important Considerations:
- PayPal fees: Be aware that PayPal may charge fees for receiving or sending money, depending on the transaction type and the recipient's location.
- Currency conversion fees: If you are sending or receiving money in a different currency, both the third-party service and PayPal may apply currency conversion fees.
- Transaction limits: There might be daily or transaction limits imposed by your PNB account or the third-party service.
- Recipient's PayPal account: Ensure the recipient has a valid and active PayPal account.
- Regulations: Be aware of any regulations in India regarding international money transfers.
How to... Frequently Asked Questions
How to check the fees of a third-party money transfer service? Quick Answer: Most services have a fee calculator on their website or app where you can enter the sending amount and destination to see the applicable fees before initiating the transfer.
How to find the IFSC code of my PNB branch? Quick Answer: You can find your PNB branch's IFSC code on your cheque book, bank statement, or by using the RBI's (Reserve Bank of India) website or PNB's official website.
How to link my debit card to PayPal? Quick Answer: Log in to your PayPal account, go to 'Wallet' or 'Banks and Cards', click 'Link a card', and enter your card details.
How to resolve if my card linking to PayPal fails? Quick Answer: Ensure your card details are entered correctly, your card is valid for online transactions, and you have sufficient funds. Contact your bank or PayPal support if the issue persists.
How to track my money transfer? Quick Answer: Once you initiate a transfer through a third-party service, they will usually provide a tracking number or updates via email or their platform.
How to ensure the recipient's PayPal email is correct? Quick Answer: Always double-check the recipient's PayPal email address with them directly before initiating the transfer to avoid sending money to the wrong account.
How to know if my PNB account supports online transfers? Quick Answer: Most PNB accounts support online transfers, but you might need to activate net banking services. Contact your PNB branch or check their website for details.
How to cancel a money transfer? Quick Answer: Cancellation policies vary depending on the third-party service. Generally, you might be able to cancel a transfer before it's processed. Contact the service's support immediately if you need to cancel.
How to receive money in my PayPal account from someone using PNB? Quick Answer: The sender will need to use one of the third-party services mentioned earlier that facilitate transfers from bank accounts to PayPal. You'll need to provide them with your PayPal email address.
How to check my PayPal balance? Quick Answer: Log in to your PayPal account on the website or mobile app. Your current balance will be displayed on the dashboard or in the 'Wallet' section.