PayPal verification is a process that Paypal encourages to help reduction online fraud and increases the security of PayPal transactions. By associating your paypal account with a credit card or bank account, the security checks regarding your identity for those institutions and are then applicable at Paypal as well.
The Benefits of Getting your Account Verified:
- Gaining More Spending POWER:
You can to send unlimited funds from your PayPal account.
- More funding options:
Fund purchases directly from your checking or savings account,
or credit cards.
- No Withdrawal Limits:
You can withdraw unlimited funds from your PayPal account to your bank account.
- Increased security & credibility:
Verification offers you increased security and as well as letting others know you’re an authenticated member of the community.
- More buyer and seller confidence:
Buyers and sellers can check each others “Verified” status over at Paypal.
It demonstrates you have successfully passed PayPal’s identification checks.
- You can add paypal verified logo ON your eBay listings
How To Get Verified.
- US. Members:
Add a bank account to your PayPal account.
- German members:
Add a bank account and complete a MANUAL bank transfer and or add a credit card and complete the Expanded Use process.
- Canadian members:
Add and confirm a bank account and validate account information.
- U.K members:
Add a bank account, complete bank funding and validate account information. Premier and Business account holders in the U.K must also supply merchant information.
- Australian members:
Add a bank account, complete bank funding and validate account information.
Members from other countries must enrol in the expanded use program which means putting your credit card on file with Paypal.
The Verification Process
In the case of a bank account and Paypal will deposit 2 small amounts in your account. (Between 1 and 50c it seems.)
In the case of a credit card and Paypal will charge a small amount to your credit card and add that amount to your account. In both cases you confirm the details from your bank/credit card transactions and in your paypal account to complete the verification process.
Do you need to have a credit card to get verified at paypal?
It appears that you can if you hail from the US, Germany, Canada, UK, or Australia and you can use a bank account. Otherwise you will need to use a credit card. If you don’t have a credit card, you can also use a VISA debit card.
Can I use a US bank account to get verified if I am a non US resident?
In a roundabout way, you can. You can’t use your bank account as such. However you can use a VISA debit card from your US bank account to get verified. This is the golden route because the benefit of having a US bank account in conjunction with paypal are compelling. Not least because. transferring money to your us account is the fastest and simplest and cheapest way to get your money out of paypal and into your pocket.
Getting an offshore bank account in the US has been difficult since the events of 9/11. However services such as these [http://www.bankaccountusa.com/en] can help you open an account for as little as US$10.
In order to use your Paypal account effectively, getting your account verified is essential. And though the process is not explained well on the Paypal website, it is really very simple.