Does Paypal verification really matter?

Mark Brian

14 years ago

In my experience you cannot purchase by CC if you're not verified. And, you need a bank to get your funds.

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Alexa Smith

Banned 14 years ago

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ktmurf 14 years ago

Originally Posted by Alexa Smith

I look at it differently. I trust PayPal a lot more than I trust my bank. Sign of the times, unfortunately.

Totally, I've been a paypal user for years now and they've always been there for me when I needed them. My bank on the otherhand.....not so much.

It sure beats having to setup a subscription merchant account and pay monthly fees on top of high transaction fees.
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ktmurf

14 years ago

Unless you participate in the verification process you will only be eligible for the minimum $500.00 withdrawal per month cap.

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Rosie Cottis

14 years ago

You could always open a new bank account just to hook up to your PayPal account ...? Keeping your main bank account private.

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JAIDEEP2959 14 years ago

You can not withdraw more than $500 unless you verify your paypal account.

So, it is better to verify paypal account.
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seasoned

14 years ago

Well, with all the bad SAID about paypal, I never had a problem. Vendors can do business with me without having to know ANY details! That is GOOD! And paypal BETTER keep things secret. Which is better, ONE company to maintain it, or 500!?!? I vote for ONE!

Steve

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serifshorg 14 years ago

In my own opinion it is better you verify your paypal account to have unlimited access to your account.
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sbucciarel

Banned 14 years ago

There's the withdrawal limit that has been mentioned already, plus how do you plan on getting your money if you don't have a bank acct attached to it. When I do business via paypal, I trust buyers who are verified much more than buyers who are not.

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Riz

14 years ago

With the state of the banking industry (especially the uk) Paypal for me is a more trusted source.

Paypal has its problems but the measures in place are mainly for your security.

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Istvan Horvath

14 years ago

Originally Posted by Jon Tees

but rescinded it after having some concerns over fraudulent e-mails I received supposedly from Pay Pal.

That's nonsense. My wife received fraudulent emails supposedly from her bank. The keyword is "supposedly".
Of course, it wasn't from her bank, it was a phishing attempt by some scambags.

Was that the bank's fault? Should we trust the bank less because somebody was abusing their name and brand?

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anu_smart

14 years ago

You can trust paypal!! 100%

Inorder to raise your transaction limits, you need to verify your account!!

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Silas Hart 14 years ago

Originally Posted by anu_smart

You can trust paypal!! 100%

Inorder to raise your transaction limits, you need to verify your account!!

You can NOT trust PayPal 100%

PayPal does Not know my:

Real name
My Social Security Number
Does not have my actual bank account
Does not have my Credit Card number on file

...and I have several verified accounts, all of which are in use.

The thing about PayPal is that you can't teach or warn someone about their practices until they have had to actually deal with them. Until then, it's "no no no, you're wrong, they are good. Trust them."
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Jon Tees

14 years ago

I'd love to use it to take donations for a family in need in my area. But I'm not sure anyone would be willing to donate even if they were to hear the story of the untimely termination of the disabled patriarch for reasons that I believe have alot to do with an unwillingness to accommodate the man's disability. He and his wife also suffer from several other health conditions.

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CDarklock

14 years ago

Originally Posted by Jon Tees

I don't really trust giving PayPal my bank account information

...but you trust them with your money.

Ooooookay.

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iTechSolutions

14 years ago

Never heard any horror story about bank account fraud due to Paypal. 99% of sellers trust Paypal for their personal info.
Open a new account with zero balance and connect it to PP account.

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carlo_sim

14 years ago

well you use pay pal to be secured, why do you think will they risk to lose their customer's trust?

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Frank Donovan

14 years ago

Originally Posted by Jon Tees

I did provide them with my bank account information in the past, but rescinded it after having some concerns over fraudulent e-mails I received supposedly from Pay Pal.

Methinks you'll be getting a lot more emails (fraudulent and otherwise) if you keep that live email link in your sig.

Frank

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sousen

14 years ago

I am Using PayPal 4+ yrs I'm verified using my CC and I'm totally satisfy wit them it's very trust worth Payment Gatway world wide

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Peter Adamson

14 years ago

PayPal account verification and bank acct verification are two different things. I am PayPal verified, with their seal on my site etc. But I did not proceed with bank account verification. I simply do not like the idea of PayPal having direct debit access to my bank account. Theoretically if someone got my PayPal password (very light security compared with the 2 factor authentication used by Barclays) they could make PayPal payments out of my account in excess of the account balance if my bank account were verified. As it stands, the damage could not exceed the balance in my PP account.

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Rosie Cottis

14 years ago

Originally Posted by Peter Adamson

Theoretically if someone got my PayPal password (very light security compared with the 2 factor authentication used by Barclays) they could make PayPal payments out of my account in excess of the account balance if my bank account were verified. As it stands, the damage could not exceed the balance in my PP account.

You can have tighter security on your PayPal account than that. They don't publicise it but you can add a second level of security with their token thingy, it cost £3/$5 when I did it earlier this year.

To get a token, log into PayPal, click on Profile and choose Security Key.

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Jon Tees

14 years ago

Originally Posted by Peter Adamson

PayPal account verification and bank acct verification are two different things. I am PayPal verified, with their seal on my site etc. But I did not proceed with bank account verification. I simply do not like the idea of PayPal having direct debit access to my bank account. Theoretically if someone got my PayPal password (very light security compared with the 2 factor authentication used by Barclays) they could make PayPal payments out of my account in excess of the account balance if my bank account were verified. As it stands, the damage could not exceed the balance in my PP account.

How may I ask did you become PayPal verified without giving your bank account information? I only see two options either give a bank account, or apply for the PayPal credit card. The credit card is a new thing, as for years you could only give your bank account information to get verified. If there is another way without having to give that information or getting a credit card I don't really need I'd sure like to know it.

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Hesaidblissfully 14 years ago

Aside from the $500 per month withdrawal limit for unverified accounts, they also lock your account from withdrawaing/spending money if your account has processed over $2,000 in transactions, and you can't get the limit removed until you've added a bank account. I had that happen to me earlier this year.

I agree that if security's an issue, just open another bank account that you use specifically for Paypal and add that one to your account. This way, your main account isn't involved.

And as for the phishing/fraud emails thing, you can't hold Paypal responsible for what criminals do while pretending to be them.
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Caragui

14 years ago

Having a verified Paypal account is a must if you plan in doing internet marketing. There are many pros in having an account verified like there are cons. But the pros definitely make it worthwhile.

You can set up some measures like having a separate bank account just for paypal, setting up a debit card just for paypal, etc to try and protect yourself. But bottomline is you have to prove your identity to them and when you're verified people (buyers) are most likely to trust (and buy from) you than not being verified.

IMHO :-)