How to Make an Account on PayPal in Pakistan

Are you looking for a way to manage all your financial transactions with a single tap on your smartphone? But can’t find anything remotely workable as PayPal?

PayPal is one of the fastest ways to transfer funds online to anyone you want. It is one of the most secure and easiest platforms for doing all your personal and business-related transactions. Unfortunately, PayPal isn’t available in Pakistan as the American technology company decided to refrain from doing business in the country due to money laundering concerns. However, there are still some ways to use PayPal in Pakistan and we are going to discuss them in this guide.

PayPal is an American tech company that was established in December 1998 as Confinity. However, after the company merged with X.com, it later changed its name to PayPal in 2001. 

It enables users to send and receive money without any hassle. It has operations in 202 markets and has 426 million active users, which makes it one of the largest corporations in the United States. In 2021, the company was ranked 134th in Fortune 500, in the list of United States’ largest corporations (in terms of revenue).

PayPal gives businesses the option of accepting online payments from their customers as well from all around the world. This is why it is the preferred payment gateway for many business owners.

As PayPal isn’t available in Pakistan, the process of making an account will not be as straightforward. The following are the steps you can follow:

·         Open PayPal’s website and click on “sign-up”.

·         You will be directed to the account creation page where you have to provide different details.

·         The first step of creating the PayPal account is to choose the account type; PayPal gives personal and business account options to the users. If you don’t own any business abroad, you should choose the personal account option.

·         Once you have selected the account type, enter your email address and choose a strong password for your account.

·         In the next step, you have to provide different details like your residential address and phone number. However, you must have a valid address and contact number in an area where PayPal operates. You can ask your relatives or friends who are living abroad for this, otherwise you won’t be able to move on to the next step.

·         After providing all the details, you will receive the confirmation link in the provided email. 

·         Once you have verified your PayPal account, you will be able to use its services in Pakistan.

To transfer funds into your local bank account, you need a valid foreign bank account that will be linked with your PayPal account. There are different online payment methods like Payoneer and Wise that enable you to do so.  

Wise is a payment service through which you can send and receive money online. It is one of the most convenient and economical ways to receive money from abroad.

It also allows you to hold different currencies in the account. In order to withdraw funds from the local bank account, you need to do the following.

·         Open the Wise official website and click on the “Register” button.

·         On the account creation page, you will get two account options: Personal and Business.

·         Click on “Personal” if you don’t have any business in a foreign country. For a business account, you have to provide different details of your business.

·         In the next step, you will be asked to choose your country of residence. Select Pakistan and move on to the next step.

·         After that, enter your mobile number on which you will receive a verification code.

·         Now enter the verification code to continue the account creation process.

·         Finally, choose a strong password and your account will be created.

After creating the account on Wise, link it with your PayPal account. Once you have linked the account with PayPal, you will be able to transfer funds from PayPal to Wise and then into your local bank account. It’s quite a hassle-free method of receiving funds in your local currency from abroad.

Payoneer is the simple and fastest payment gateway platform that allows fund transfers from any part of the world. It is one of the best options for freelancers especially who can’t avail PayPal’s services.

Just like Wise, Payoneer lets you connect your PayPal account with it to withdraw funds to your local bank account. In order to do that, you have to follow the instructions given below.

·         Go to Payoneer’s official website and click on the sign-up button.

·         After that, fill out all the relevant information in the form like email address, phone number, address etc.

·         Once you have submitted it, you will receive a confirmation email.

·         Finally, click on the confirmation link to complete the account creation process.

In order to link the account with PayPal, first login into your PayPal account. Go to the account linking page and provide all the bank account details. You will be asked to provide the account and routing number that you can find in your Payoneer account. Enter those details to complete the process.

Once you have successfully linked the account, you will be able to transfer funds from PayPal to your Payoneer account.

The next step is to link your local bank account and, in order to do that, you need to do the following:

·         Log in to your Payoneer account.

·         Click on the settings and choose the type of account you want to add.

·         Now add all the relevant account information and submit.

·         Once Payoneer has cleared your account, you will be able to transfer funds to your local bank account.

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