PayPal verification

[loliveve]

Posted: 5/23/13 at 9:42pm

Has anyone here verified their PayPal account? The whole process of giving them your bank account info seems shady to me, though I know the email I got from PayPal was legit and the policy is posted on the website. Just wondered what anyone's experience was with this...

[Jordan Catalano]

Posted: 5/23/13 at 9:46pm

I verified mine years ago and have never had any issues.

[Phyllis Rogers Stone]

Posted: 5/23/13 at 10:19pm

I don't get how linking your bank account info to something that is used to link money is shady, unless you just think PayPal is shady in general.

[SNAFU]

Posted: 5/23/13 at 10:41pm

It isn't shady. I too verified mine years ago and there was never a problem. I have also had to verify my Visa card for on-line use.

[JbaraFan1]

Posted: 5/23/13 at 10:59pm

Same here -- have had verified PayPal account for ages.

[loliveve]

Posted: 5/23/13 at 11:25pm

I guess the description was bizarre to me in that it starts with PayPal depositing small amounts into your checking account.

I still don't get why it's required, but oh well. Glad to know you haven't had issues since the verification! Thanks!

[Jordan Catalano]

Posted: 5/23/13 at 11:32pm

The small amount is like 5 cents or something, right? They do it to verify that it's an actual account capable of accepting money since that's the point of paypal.

[JbaraFan1]

Posted: 5/23/13 at 11:34pm

Those deposit amounts are very random amounts, and as part of verifying your bank account with PayPal, you will have to know the amounts exactly. That way PayPal knows it's actually your bank info.

ETA: oops, old and slow, didn't see Jordan's post before I posted.

Updated On: 5/23/13 at 11:34 PM

[Brian07663NJ]

Posted: 5/24/13 at 7:52am

I agree with all of the above with the following 2 additions:
1. If you link your credit card and bank account. Then decide to pay using your credit card - make certain at the time of the purchase to indicate credit card because mine always wants to default to the bank account. Might be because the credit cards charge their fee?
2. IF you get an email from PayPal asking you to sign on through the email to verify you because of a potential security breach - don't follow the link - could be an attempt to access your user name and password. I got one recently and did not follow the link. Then when I signed on to complete a purchase there was no mention of that email threat once I accessed PayPal through eBay.

[JbaraFan1]

Posted: 5/24/13 at 10:26am

^ Definitely always best to type PayPal.com into the address bar rather than follow a link. (Or access your account via their official phone app which lets you log on the regular way or with your phone # and a PIN for the PP account.)