Paypal verification?

[pinkjewel]

I recently received a notice from Paypal that I had reached a $10,000 initial limit and would need to be "verified" to continue sending funds. Looks like "verification" means having to give them checking (or savings?) account info (or using their credit card which I'm not going to do). I don't really like the idea of giving them my checking account info, but to receive funds from my paypal account it looks like that's about the only way since they limit checks they'll send to $500.00/mo and charge a fee for this service. Also,looks like they also then want to use the checking account to pull funds rather than my credit card.

So-what do you all do? Have I missed an option? I'm thinking of opening a checking account with a small balance just for paypal use.

 

[MichelleCarmen]

Did you get a random email? Are you sure it's not spam? Any email asking for your cking account info could be someone trying to hack into your account. I think being verified is safe and giving checking info, is, as well, but only by first typing in the PP address and accessing PP that way. Never click on a link that has been sent to you through email. That said, having a seperate accoung just for PP sounds like a great idea. I have a back-up checking account that I have set up at a different bank from the main one dh and I use.

 

[Kismet]

That's what I do. I have an account at a different bank than my regular checking/savings, actually an old account from when I was a kid. I limit my purchases via paypal to how much I have in there.

 

[pinkjewel]

Did you get a random email? Are you sure it's not spam? Any email asking for your cking account info could be someone trying to hack into your account. I think being verified is safe and giving checking info, is, as well, but only by first typing in the PP address and accessing PP that way. Never click on a link that has been sent to you through email. That said, having a seperate accoung just for PP sounds like a great idea. I have a back-up checking account that I have set up at a different bank from the main one dh and I use.

No- it wasn't a random email. Came up with my last transaction. It said only $197.00 left before I'd reach the limit. Also it's on my home page when I log on. So-seems like it's safer to open the account at a separate bank? Does anyone just open a separate account at the same bank they normally use?

 

[pinkjewel]

That's what I do. I have an account at a different bank than my regular checking/savings, actually an old account from when I was a kid. I limit my purchases via paypal to how much I have in there.

thanks-Kismet. Did you receive a notice from them- or did you just open one anyway?

I just noticed we all have pet avatars!!

 

[junebug17]

Pinkjewels, I went through this process and everything worked out ok. I won't lie, I was rather nervous about it but I figured everything was ok since I was dealing with the actual paypal site. I didn't have any problems.

ETA: I too had received emails that I was reaching my spending limit - and then I won an ebay auction and when I went to pay for it, paypal would not process it because I had reached the limit (I believe I was notified by email). The seller only accepted paypal, and I wanted to pay for my item fairly quickly, so I did the verification process. I went straight to the paypal site, didn't go through an email.

 

[Kismet]

That's what I do. I have an account at a different bank than my regular checking/savings, actually an old account from when I was a kid. I limit my purchases via paypal to how much I have in there.

thanks-Kismet. Did you receive a notice from them- or did you just open one anyway?

I just noticed we all have pet avatars!!

I don't recall as I've had the paypal account for a while now. I think it was a notification on their website though and not an email.

 

[Ravenne]

Whenever something like that comes up with Paypal, I just call them and go through a real person to fix the issue. Anything that it asks you to do on the website, should be doable over the phone. Just make sure you call a # that you find on the website itself.

That's what I did when I had my identity stolen. Whoever it was took nearly $800. I called them and got it back.

 

[smitcompton]

Hi,

With some sellers you need a verified address which PP takes through a checking account. It then gives you the option of using either your checking account for purchases or a credit card. Next to the checking account info it states--other options. If you click on that you will find your creditcard info turning up. You then select which one you wish to withdraw funds from-checking or Credit card.

Just make sure you know which one you are taking it from.

Annette

 

[pinkjewel]

thanks, everyone!! I still think I may open a special checking account for them just to keep things simple!

 

[amc80]

thanks, everyone!! I still think I may open a special checking account for them just to keep things simple!

I recommend doing so, as did my bank.

 

[VRBeauty]

I went through this - the way I interpreted it is that they want me to use a checking account as my default account because it's cheaper for paypal. I can still switch off to a credit card account for individual purchases, but it means jumping through a hoop or two.