Question
I dont use paypal and know nothing about it.....My friend wants to sign up and use paypal for his auctions......he doesnt sell much and only wants to use it for a few months or so.
I saw somewhere that it said if you are not verified you can withdraw up to $500 a month...is that correct? Can you have a paypal acct and not be verified? Do they make you verify your account after a certain amount of time? just curious.
Answer
anyone?
Answer
From Paypal's website:
What is the Withdrawal Limit for new U.S. accounts?
New account holders are limited to withdrawing $500.00 USD per month from their PayPal account. The start of a month is marked when the PayPal account is opened (e.g. May 15 to June 15).
The Withdrawal Limit can be removed by authenticating your identity.
To authenticate your identity, you must complete two of the following three requirements:
* Add and Confirm a bank account
* Enter your Expanded Use Number
* Confirm your Social Security Number
also...
What does it mean if a Seller or Buyer is Verified or Unverified?
A U.S. Verified member maintains a confirmed bank account on our site, or has been otherwise verified by PayPal.
A Canadian Verified member has added and confirmed a bank account and Validated their Account Information.
A UK Verified member has added a bank account, completed Direct Debit and Validated their Account Information.
Other Non-US Verified members have added a credit card and have completed the Expanded Use Enrollment Process.
German members have added a bank account and completed a Manual EFT (electronic funded transfer) or added a credit card and complete the Expanded Use Process to become Verified.
These verification processes are secure and easy ways for PayPal to gain additional proof of a member's identity in conjunction with our own authentication methods, and increases the security of our payment network for everyone.
An Unverified member is one who has not completed the verification processes according to their country of residence.
...the terminology is confusing at Paypal... there is a verified member, email verification, address verification... and who knows what else???
hope this helps...
gw4m