"verified" PayPal account?

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Bob W

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It seems there is a maximum amount you can transfer before you're forced to become a "verfied" PayPal member. So it's either resort to money orders, stop buying knives on eBay, or become a Verified member. To become a "Verified" member, you simply have to provide PayPal with a bank account number.

Should I be concerned? Do any of you have Verified accounts with PayPal? Any problems or security issues?

-Bob
 
I am verified on paypal , it was easy to do and sorta recommended if your going to do a lot of business on there , sort of sets folks fears at ease about transactions.
Never had a security problem.
 
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I wasn't happy about it, but I did it. If you want to play you have to pay basically.
 
Be sure that you do NOT respond to an email telling you that you have to become a verified member and which gives you a link to follow in order to enter your data. That is probably a phishing scam to steal your bank account info. Manually type in www.paypal.com to your browser URL box and navigate your way to the proper registration area at paypal.
 
DaveH said:
I set up a completely separate checking account that's only for paypal.
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I would suggest this or a savings account strictly for Paypal use only,that would alleviate most of the problems with account freezing and security of your main accounts funds.
 
I've used ebay/paypal and been 'verified' for years and have never had a problem with them. It considerably reduces the risk of ripoffs/theft/stolen credit cards for buyers/sellers when members are verified. Someone had to verify their address/ID with the bank to open an account.
 
TOMBSTONE said:
I would suggest this or a savings account strictly for Paypal use only,that would alleviate most of the problems with account freezing and security of your main accounts funds.
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Does this mean that paypal freezes your account?

Say I buy a knife for $100 using paypal. Do they freeze that amount in the account for a certain length of time?

I'm curious as I'm reaching my $2000 limit and I'll need to get verified.

thanks.

Mark T.
 
I don't like it one bit, now they take the funds from my checking account. It is easier to buy knives using my charge account because I don't have to answer to the wife cause I get the mail.

Joe
 
In addition to what's already been said -- if you set up a separate account for it at the same bank where you have other accounts, if Paypal wants to take more money from your account than you have in it, your bank will take the money from your other accounts and give it to Paypal and (just to add insult to injury) charge you an overdraft fee.

If someone at your bank tells you they will not do that, make them put in writing.
 
I have had a verified account for several years without issues. What you have to watch out for is after you set it up that way, by default ALL future purchases will be charged to the savings account if you don't manually choose another payment option when completing the transaction. I always choose the pay with credit card option on every purchase to avoid all the issues stated above. I don't like some of paypals political leanings at all, but unforunately as stated it has become the price of doing convenient business.
 
I had no idea Paypal supported anti-gun agendas. (Or E-Bay for that matter.) :barf: I guess I will be forced to do the "money-order-only" thing from now on. Thanks for the info fellas. Jim SEMPER FI
 
I'm verified, no problems so far, it seems to be very safe. The only problem I have is the 500.00 a month withdrawal limit, I'm not giving anyone my social security # which you have to do to lift that limit.
 
I keep a separate account and keep very little cash in it

Bob W said:
It seems there is a maximum amount you can transfer before you're forced to become a "verfied" PayPal member. So it's either resort to money orders, stop buying knives on eBay, or become a Verified member. To become a "Verified" member, you simply have to provide PayPal with a bank account number.

Should I be concerned? Do any of you have Verified accounts with PayPal? Any problems or security issues?

-Bob
Click to expand...
 
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