What is "Paypal" Account. Would somebody explain in details.?

Paypal account means you have signed up with Paypal.com http://www.paypal.com/

Paypal can allow you to send and receive money to your Paypal account. But in order to get that money out of Paypal into your pocket, you need to have a bank in your country that you can connect to your Paypal account.

There are different types of accounts that can let you do different things -- personal account, business account and premier account

https://www.paypal.com/cgi-bin/webscr?cmd=_registr...

Note that there are fees for some transactions including currency conversion (e.g. you receive monies in dollars and you want to convert it to Indian rupees).

I suggest you visit Paypal and learn everything about their service http://www.paypal.com/

Paypal is a mediator between a buyer and a seller when purchases are made online. Paypal secures your bank account information so that a third party seller doesn't take and misuse the information. They deduct the money from your account and send it to the merchant on your behalf. The third party merchant will never see or have your personal information. It's very safe and secure.

PayPal is one of the most popular online money transfer systems widely used for online auctions, pay to surf programs, e-books and purchase of low value goods. It is now a part of the online auction website eBay. More details available at

http://www.money-transfer.in/paypalindia.html