New account. Unveified/Unclaimed

[downhillrider1]

Hello. I recently made a PayPall account so I could sell my phone online (swappa.com) and it seemed like the easiest way to go about things. I noticed the money I revieved from the sale of my phone is sitting in a unclaimed section of my PayPal. I cannot link my PayPal to a bank account.The most I'd be willing to do is add my Chase credit card to recieve the money. I have read here where people have been able to do that. But I cant seem to find that option to add a credit card instead of linking to a bank account. Can I get some help? Thanks. Personal not business account.

[minty1]

Hi downhillrider1

If its unclaimed it sounds like the payment has been sent to  the wrong email addess

Double check with your buyer what ppal email address they sent it to

If this is the case try adding the email address to your ppal and see if the money comes through

Have you already shipped the phone?

If you havent ask the buyer if they have an option to cancel the payment but it might take a few days to go back to them

then you could send them an invoice to ensure email address is correct

[downhillrider1]

well I think its in the unclaimed section bcause I'm not verified. I've been trying to find out  how to do that since Nov 4th when I got the email about the payment I recieved. ( he has a "confirmed address" in the details). So the money he sent is in my paypal account. I just cant access so I can move because Im not verified. So I'm still trying to get an answer from paypal if theres a way to get verified w/o entering bank info. Like using a Credit Card or anything else. 

[snowshoe]

PayPal's FAQs state: To Verify your PayPal account, just link your bank account to your PayPal account or be approved for PayPal Smart Connect or the PayPal Plus MasterCard®. (Note, the PayPal Plus MasterCard was introduced in 2001.  In 2011 the name was changed to the PayPal Extras MasterCard.)

[downhillrider1]

Ok just so I understand this correctly. Linking a bank account is the ONLY way to get the money sitting in my account out. Because I won't give PayPal my bank information after 30 days that money will be returned to the buyer of my phone. Is all of that accurate.

[snowshoe]

You need to verify your account, how you choose to do that is totally up to you.

Regardless of what transaction processing service you choose to use, linking and confirming a bank account is the norm.  For example, check out Square's requirements.

Financial institutions such as banks, credit card issues and 3rd party transaction processors such as PayPal are required by law to verify the identity of the person behind any and all Accounts into which money is collected.  This stems from the Patriot Act, Title III, Anti-money laundering to prevent terrorism where as institutions put into place reasonable steps to identify beneficial owners of bank accounts and those who are authorized to use or route funds through payable-through accounts.

 PayPal takes advantage of the fact that you had to prove to the bank you are who you say you are.  Therefore, by linking and confirming your bank account, the background work has already been done and PayPal has now met the legal requirements to protect themselves.

PayPal's FAQs state: To Verify your PayPal account, just link your bank account to your PayPal account or be approved for PayPal Smart Connect or the PayPal Plus MasterCard®. (Note, the PayPal Plus MasterCard was introduced in 2001.  In 2011 the name was changed to the PayPal Extras MasterCard.)

From experience, we’ve learned that in order to use PayPal without limits, it best to link and confirm a bank account (checking account) plus link and confirm a credit card (not the prepaid type) or register your SSN # or do all three.  (Note, when you link and confirm a credit card, this acts as additional proof of ID, a backup funding source and allows you to do instant transfers verses sending eChecks or in the UK eCheques.)

[downhillrider1]

From paypal FAQ Get Verified using your credit card Provide us with your info. We’ll make two small charges to your card. Return to PayPal and enter those charges along with the adjacent code as they appear on your credit card statement. We’ll reimburse you for the charges and you’ll be Verified. It seems you can verify your account with a credit card but I see no option in the settings to do it. Looks like PayPal is making it very hard to verify your account w/o entering bank information.

[snowshoe]

Unfortunately you can't verify your account with just a credit card, it  has to be a bank account or the previously mentioned PayPal products.   The process you described is for linking and confirming a credit card.  Just doing the credit card and not having a bank account does not remove your account limits.  (At least from our experience.)

[downhillrider1]

ok well I went ahead and just linked my Chase bank account with paypal. I was able to successfully move some of the money in paypal to my personal bank account. I was satisfied with the layers of security paypal has now. what problem Im running into now is I tried to add money to paypal from my bank account and I got a message saying it basically needed more info about me to be able to transfer money to paypal. I sent them a picture of my valid driver license and I got a message saying that wasnt enough. so I sent another picture of my license, proof of residence and my social security card. I'm uncomfortable with someone having this much personal info on me but I'm all in paypal already. I havent heard back. If this isnt enough whats next.