Thread: PayPal Verification

had mine linked to a bank account for many years.

makes it easy to withdraw money from paypal to my bank account.

i dont send goods off till the money is out of paypal and into the bank.

you can still elect to pay for things via card or current balance as well as the bank account when needed.

Problem with giving Paypal your bank account is that it then defaults payments - Paypal balance, bank account, credit card. And you have to change that every time you make a payment if you want to pay with a credit card.

remove double post

Gary it appears wierd with the 2 $ set up amounts to set up but once done is sweet as it allows instant payment and flexibilty (providing your credit card OK) and a set up that sellers love. Payment auto cascades deducting first from your PP account, then your bank account then finishing with your credit card account. You control the default issue abaddonxi mentions by simply managing available balances in those accounts accordingly.

The reason for verifying the Paypal account is so that it is proven that you have a proper address and a verifiable bank account, and that you are who you say you are. This is to prevent internet scammers/fraudsters who don't have a verifiable address.

I have had my account verified years ago and never had any problems. You can always have the payment reversed through Paypal and get your money back. Like Inc. says, when receiving payment make sure it is in the bank before sending the goods.

Originally Posted by abaddonxi

Problem with giving Paypal your bank account is that it then defaults payments - Paypal balance, bank account, credit card. And you have to change that every time you make a payment if you want to pay with a credit card.

that doesn't occur for me.

Thanks for the comments.

I really do not know why Paypal do this (yes I know it is to stop fraud etc) but I have has this account for a number of years, attached to the one credit card account - it is only now after about 5 years that its usage has hit the $11,250 trigger amount to have the account verified. Given the time the account it has been opened there would have been plenty of time for it to be defrauded.

I am not prepared to have any of my personal bank accounts attached to Paypal so if it cannot be verified using the credit card account I will cancel it and start up a new one.

Garry

I never had any trouble with Pay Pal having my Bank account Details, I a few $K every month, never a prob.
But I originaly set it up and had to be verified and that involved me sending proof of ID, passports etc all to the US office at that time. Took a long process to be verified . But I have a premier Business account with them so maybe stricter