Wednesday, February 24, 2016

How to verify your PayPal account

Verifying your PayPal account is important if you plan to have huge transactions using your Paypal. That is because using the unverified version will set limits to how much money you can traffic. So if you get confirmed, you will have the option to send and receive money as often as you wish. Also, you can instantly send money from your bank account and receive exclusive services from PayPal.

How to verify a PayPal Account
Unverified PayPal Account
As shown on the picture above, you see the account is an example of an unverified account. The account has limitations in withdrawing money. Once you get verified, there will be limits to withdrawals anymore. There are lots of benefits in verifying a Paypal Account . These are some of the few benefits as to why you need to have a verified Paypal.
  • No limitations in sending and receiving money
  • More security with PayPal Seller Protection. 
  • Having a verified account will increase credibility to sellers and buyers.
How do you become verified?
There are two ways to become verified.

1. Adding a CC (credit card) on the account. - In the Philippines, you can either use an Eon Unionbank account, or a Smart Money card , or an RCBC my wallet card.
  • open your paypal account
  • under you main page, you will see "Welcome, (your name)". Below that will be a link that says "get verified." Click on that.
  • You will be routed to a page where you will need to enter your card information. Enter it as shown in the card and what you registered in your bank.
Page on Verifying Paypal
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  • Just click the orange button to submit continue. A 100.00 charge will be taken from the card will be returned after 24 days once your account has been verified.
  • You will receive a four digit code (via text message if using smart money) or via online bank statement if using other cards. If you have not registered online, you can go to your nearest bank. You will need to re login to your paypal and click get verified again and enter the 3 digit code.
2. Confirm using a bank account  This feature is seldom used since the one above is much much easier. You need to add a bank account. Paypal will send two small deposits, you need to enter this deposits on the paypal website. Somebody will call you to verify and authenticate all the information entered. 

That's it. Once you have done this then your steps PayPal account will be ready to go. Just remember to use this if you need to extend the limits to withdrawing and receiving money. Hope this helps.

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