PayPal Verification - why is it needed?
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Posting Guru
Joined: Apr 2003
Posts: 1,903
Likes: 2
From: Wyoming
PayPal Verification - why is it needed?
I've had a Paypal account for a few years, and use it for Ebay and to donate to several of my favorite web sites. I keep getting an additional email at the same time as my paypal receipt stating:
We wanted to let you know that you’re just $xxx.xx USD away from hitting your initial PayPal sending limit of $2,000.00 USD. This is the maximum amount of money you can send or use for purchases before you need to become Verified.
Why do I need to verify my account?
We place initial limits on all accounts to increase security and help prevent fraud. Once you link and confirm a bank account or get approved for PayPal credit, your account will be Verified and you’ll be able to make as many payments as you like with PayPal.
It seems to me that they already have my credit card info, and that should be sufficient for them. I'm leery of linking any additional account with them. Is this on the up and up? I suppose I could create a new account and run up another 2 grand - it's taken me 3 years to spend that much on PayPal so far.
There was a similar thread on this in 2006, but I'm looking for a more recent discussion. Plus, that thread ended up WAY off topic discussing chili.
We wanted to let you know that you’re just $xxx.xx USD away from hitting your initial PayPal sending limit of $2,000.00 USD. This is the maximum amount of money you can send or use for purchases before you need to become Verified.
Why do I need to verify my account?
We place initial limits on all accounts to increase security and help prevent fraud. Once you link and confirm a bank account or get approved for PayPal credit, your account will be Verified and you’ll be able to make as many payments as you like with PayPal.
It seems to me that they already have my credit card info, and that should be sufficient for them. I'm leery of linking any additional account with them. Is this on the up and up? I suppose I could create a new account and run up another 2 grand - it's taken me 3 years to spend that much on PayPal so far.
There was a similar thread on this in 2006, but I'm looking for a more recent discussion. Plus, that thread ended up WAY off topic discussing chili.
Post Fiend
Joined: Mar 2007
Posts: 8,770
Likes: 14
From: The Great North~West!
When I verified mine, they made a random deposit into my account,,, and I had to tell them how how much it was.
That way they knew it was really me.
The deposit was like .32
I have had my account for years and have never had any trouble with it.
That way they knew it was really me.
The deposit was like .32
I have had my account for years and have never had any trouble with it.
Laughing Gas
Joined: Jul 2010
Posts: 1,025
Likes: 1
From: Clearwater Fl.
There is nothing wrong with becoming verified through Paypal. It helps them to varify that you are who you say you are. It also allows you to pay straight from your bank account instead of a credit card. Paypal does make more money when you pay for a purchase with money from your bank account, they get the entire transaction fee, as to a credit card, they share that fee with the credit card company. I have been using Paypal for years for both sending, and receiving payments. When I joined Paypal they were not owned by Ebay. Ebay bought Paypal several years ago. I have never had a problem.
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