Can we add Virtual Credit Cards from Kotak or HDFC to Paypal to use for Ebay purchases? Anybody have got experience with this?
You can use your VCC from Kotak & HDFC to pay for eBay purchases via Paypal - you will have to use a new VCC for every new purchase. However, DO NOT use it to to VERIFY your account. If you do, Paypal may ask for supporting documentation about your CC (like last month's statement etc) and if you are unable to provide it, then your account gets locked permanently. And you cannot create another account as they have your PAN already and will say "PAN already used for another account". This is my personal experience - I had the misfortune of having this happen to me a few months back.
So if you want to just buy on eBay, then do not bother to go through the verification process. But some sellers will ship only to "verified paypal address" or you may want to have the option to receive money also, for such cases, I'd recommend getting a "secured credit card".
Basically you deposit some amount as fixed deposit with Kotak or HDFC (min 25,000/-) and you will get a credit card with a limit equal to 80% of the deposit amount (so, min 20,000/-). This type of CC needs no separate address verification, ID proof etc., it is tied to the FD and the docs you submit for the FD work for both. You get it within week or so after opening the FD account and it will expire at the end of the FD term.
VCC will expire in one day. So I don't think it can be linked with Paypal. You can link your bank account to paypal. I have done that but yet to do any transaction .
For Paypal India, bank accounts are only for withdrawing money from Paypal to bank. You can not add funds from your bank to your Paypal account. That means, you cannot pay from your bank account via Paypal.
Also, I didn't have any luck using debit cards with Paypal - tried SBI, PNB, ICICI & HDFC. All (except SBI) are supposed to be international debit cards. So I think Paypal India doesn't accept debit cards either.
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