Receiving a reward money in PayPal account

[WrichikBasu]

I received a reward online, and I used my PayPal account to get the payment. They have said it will take up to 24hrs to process the payment. Even for one payment for reward (not business), do I need to complete my KYC as per Indian regulations? If yes, what shall be my purpose code? I am a student and not into any business, so none of the purpose codes match my needs. What should I do?

[PayPal_Cristina]

Hi WrichikBasu,

Thank you for your post and welcome to our Community Help Forum!

For your account security and compliance with India’s financial regulations, you will need to confirm your email address and your identity before you can receive PayPal payments and withdraw money from your PayPal account.

If none of the purpose codes matches your needs, you may find a similar suitable.

You can find more information here https://bit.ly/2IYls70.

Hope this helps,

Cristina

[WrichikBasu]

My problem is that my bank account is still a minor one (an account for a student below 18 years of age), and the bank will take quite some time to convert it into a major account (even though I have applied for the conversion some time back). I didn't know about the bank confirmation for receiving payments, and I applied for my reward (given by ethn.io). After 24hrs, the money hasn't reached my account. If I complete the bank confirmation later, will the money automatically come into my account, or will it be refunded to the website giving the reward, and further decision shall rest on them?