Paypal is the most popular payment gateway on the internet. From Amazon to Godaddy, most of the e commerce websites either require your credit card or require you to have a Paypal account for any transactions. But unfortunately, Paypal is still not supported in Nepal.
Need of Paypal
Almost all of e commerce websites like Amazon and eBay (which itself owns Paypal) accept Paypal as a monetary gateway simply because it is quick, easy and secure. Domain registrars and hosting companies also require you to have either international debit/credit card or a Paypal account. Unfortunately Nepalese people can get hold of neither.
Why is Paypal not available in Nepal
If you have created Paypal account with Nepal as country, you may have noticed that Paypal doesn’t allow you to accept money from others. Also, You cannot use your Paypal balance to pay for goods in e commerce websites as your Paypal won’t be verified without an international debit or credit card. So, the Paypal account will be of virtually no use. The central bank of Nepal prevents any Nepali citizen without a foreign visa to get an international credit or debit card. This means that there is no way that you can use to remove the limit in your paypal account. Paypal is quite unlikely to remove the “send-only” limit in Nepalese paypal account soon as the number of transactions is quite less (which in turn is due to the credit card limitation). So, as long as Central Bank doesn’t allow general citizen to get International cards, we can forget about using our own Nepali Paypal account over the internet.
What can i do?
Is there anything you can do to bypass this limitation? Fortunately there are few solution that might work. You can create a Paypal account from other country where it is not limited like Indonesia. After that, you can buy a payoneer card . The card can be used to verify your Paypal account (costs around 30$). After that, you can use your Paypal account for anything. Some people report that their Paypal account created with another country selected is disabled quite soon. But, in my experience, as long as the transactions are fair, you won’t get disabled.
Paypal from India
With the recent trend of going to India for CA study and other study, there is a good change that you know someone who is working or staying in India. If you know anyone, you can contact them and tell them to create a dummy bank account for you. You can use the bank account detail and their PAN number detail to create a legit Paypal account. The Paypal account won’t be limited, it won’t get banned and this method doesn’t cost you any money. Whenever you need to deposit money in your Paypal account, you can deposit it in the bank (SBI has many branches in Nepal too). And whenever you need to withdraw money, you can use the bank ATM.