Paypal Verification

[Yarm]

I've made a couple dozen purchases on EBay in the last 6 months using Paypal but am not "verified". I've paid immediately after each auction ended (or when I received the total from a seller). A recent Email from Paypal encourages me to get verified because I'm down to my last couple of thousand of buying power. Then what? Am I out of the game? What's the point of requiring banking information when someone has always paid promptly and has no returns or negatives?

[bsshog40]

I have been verified with them for a about a year now. It's no big deal. Some sellers lately I've noticed are required that buyers be verified with paypal. It just depends on who you buy with. I don't think it's really needed, but it helps in some cases. Too much fraud out there for sellers (and buyers)!!

[World Colonial]

I've made a couple dozen purchases on EBay in the last 6 months using Paypal but am not "verified". I've paid immediately after each auction ended (or when I received the total from a seller). A recent Email from Paypal encourages me to get verified because I'm down to my last couple of thousand of buying power. Then what? Am I out of the game? What's the point of requiring banking information when someone has always paid promptly and has no returns or negatives?

 

Good question. I work for a major credit card issuer and we have computer models that are in place to detect potential fraud before it happens. Payments is a different business but perhaps they have similar models and part of the logic uses assumptions that their verification process reduces fraud risk. Just a guess.

[ldhair]

It's a fraud security measure. I feel it's best to be verified partly because some sellers require it. It probably offers the seller some protection against fraud.

 

A lot of folks open a free checking account somewhere just to use for Paypal. Don't tie Paypal to your main checking account. I have one charge card just for Paypal and Ebay.

I feel it's wise to keep this stuff separate from my main finances. Just the way I see it.

[DC Dawg]

I've made a couple dozen purchases on EBay in the last 6 months using Paypal but am not "verified". I've paid immediately after each auction ended (or when I received the total from a seller). A recent Email from Paypal encourages me to get verified because I'm down to my last couple of thousand of buying power. Then what? Am I out of the game? What's the point of requiring banking information when someone has always paid promptly and has no returns or negatives?

It has nothing to do with your eBay performance since PayPal is (allegedly) firewalled off from eBay. PayPal verification is nothing special. All they will do is verify the billing address with the credit card on file. If they match, you're verified.

 

For many numismatic items, it is not a big deal. But in some of the other "commodity" areas (e.g., electronics), it helps fight fraud--the premise is that if the information matches, they know where to find you, just in case.

 

I understand the process has changed some since I did it many years ago, so I do not know what the requirement for identification are. You might want to just do it to save the hastles some like to provide.

 

Scott

[bsshog40]

 

I understand the process has changed some since I did it many years ago, so I do not know what the requirement for identification are. You might want to just do it to save the hastles some like to provide.

 

Scott

 

Now what paypal will do to verify is use your banking acct.. They will make to small deposits into your acct. for instance, .29 & .17. When that shows up on your bank statement, you will go back to thier site, they will give you all the right links in an email, and you will verify this is your acct. by letting them know what the exact amounts of these deposits are. then you will be verified with paypal. This is about a 2-3 day process.

[al_e_gator]

I finally signed up on PayPal yesterday, took about 30 minutes of poking around the site and reading about how it works. I chose the instant verification, but yes you can also get verified by letting them make 2 deposits into your account and reporting back to them in a couple days.

I guess the answer to your question has already been given, but I'll repeat it.

Verification happens through the PayPal site directly and has nothing to do with eBay.

[pendragon1998]

A recent Email from Paypal encourages me to get verified because I'm down to my last couple of thousand of buying power.

 

I've never heard of this one - if I read your message correctly, you're saying the email told you that you would only be able to use paypal to spend another several thousand dollars before you'd either have to get verified or stop using the service?

 

Unless there's a policy on PayPal I've never heard of, that sounds like a scam email trying to get you to reveal your banking information. You should forward the email PayPal at fraud@paypal.com and ask them if it is legitimate. NEVER click on a link sent to you in a "PayPal" email. If you are told you need to access your account, go to your browser's address bar and type in www.paypal.com, and then navigate to where you need to be.

 

I suggest you spend a little time reading in PayPal's Security Center. Go to paypal's website and click on the "Security Center" link at the top.

 

 

Questions PayPal will never ask you in an email.

 

To help you better identify fake emails, we follow strict rules. We will never ask for the following personal information in email:

 

* Credit and debit card numbers

* Bank account numbers

* Driver's license numbers

* Email addresses

* Passwords

* Your full name

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EDIT:

 

Okay, apparently, it is a legitimate policy. I did a little poking around and found the info posted below. It seems I was just not a big enough spender before I got verified for them to bother telling me about it. I continue to stand by my advice about scamming and how to access the site, though. Go ahead and get verified - it's a painless process.

 

 

Why did I receive an email about my Sending Limit?

 

Your Sending Limit is the total amount of money you can send with PayPal before you complete PayPal's Verification process.

 

Once you reach the limit, you cannot send further payments until you Verify your account by confirming a bank account or by getting approved for the PayPal Plus Credit Card or PayPal Buyer Credit.

 

To learn more about your Sending Limit, click View Limits on your Account Overview page.

 

Note: Your Sending Limit carries over from one PayPal account to another. All Sending Limits are denominated in U.S. dollars. If you send a payment in a currency other than U.S. dollars, the payment reduces your Sending Limit by the U.S. dollar equivalent.

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[Yarm]

Thank you all for your input!

[Oldtrader3]

I think PayPal has lost their collective minds anyhow. Recently, they have sent me several emails saying that my Ebay sign-in and PayPal sign-in have to match. Well, duh! They can't match because Ebay will not let you use an email address as to sign in and PayPal will not allow you to use anything but an email address for sign-in. This is a Catch 22 (idiotic), circular, problem that PayPal has sent me (3) emails about in the past month.