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I have been using PayPal for several years. I primarily use the service to pay for items purchased on-line. On occassion over the years I have received payment for items I have sold. This sales have typically been for values less than $200. Recently, I sold a nice Canon Camera for $900. The buyer sent me the funds through PayPal. When i went to accept the payment, I was notified that I had to be verified before I could accept the funds.
My intentions are to keep the $900 in my Paypal account to use for future purchases. I DO NOT want to provide my bank account information. Am I out of luck?
Thanks for your reply DPCreations! I undestand what you said, but I am still a little confused....
Is this possble anymore without being verified?
If not, when did the rules change?
If PayPal states you need to be verified, then you need to be verified with your bank account being linked.
PayPal continues to implement new security procedures and new verification procedures so what worked in the past now needs to upgraded to new verification requirements.
see,this time is different,you sold something,you could face chargeback,dispute,returns so Paypal needs to protect itself since it has buyer and seller protection policy.
to verify your bank account ,tells PAYPAL you are who you are,you have a bank account ,you have a physical address etc etc.
you have to comply,we all have to comply .
First, THANKS for taking the time to reply. I hear and understand what you are saying. I don't agree with the reasons, but that is my choice and I accept the ramifications.
For the few times that I ever sell anything, I can find other alternatives to receive the funds without providing my bank account in formation. Maybe not as easy, but at least I save on fees!!
Again, I appreciate your time!