Why is Paypal so slow at sending a security code to my bank?

LeePP
Contributor
Contributor

I've been using paypal for around 2 months with no problems.

 

However, 2 or 3 days ago a pop up told me that I could not pay for an item with paypal until I had put a security code into paypal that paypal are sending - or had sent - to my bank. My bank told me that paypal pay a penny into customers' accounts and the security code is sent with this. My bank has still not received this code. Is it normal for this to take so long? I need my paypal account.

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2 REPLIES 2

snowshoe
Frequent Advisor
Frequent Advisor

It's a normal process,

 

Here's details from the UK FAQ:

 

For security purposes or as part of getting verified, you may be asked to add your bank account to your PayPal account and confirm that you're the owner of that bank account.

To confirm your bank account:

  1. Log in to your PayPal account.
  2. Click Profile near the top of the page.
  3. Select My Money.
  4. In the ‘Bank accounts’ section click Update.
  5. Click Confirm next to the bank account you want to confirm.
  6. Click the Set up Direct Debit button.
  7. The next page will display your bank details. Enter the full address of your bank account, then click Submit.

Once you've clicked Submit, we’ll deposit 1p in your bank account. You'll find a 4-digit code next to the 1p deposit on your statement. This should appear in your bank account within the next few minutes, but may take up to 2 hours, depending on your bank.

If the 1p deposit doesn’t appear within 2 hours, we’ll send 2 random deposits (both between 1p and 99p) to your bank account. You'll find them on your online bank statement within 2-3 working days, or on your next paper statement.

When you’ve retrieved the necessary information from your bank statement, here's how to confirm your bank account:

  1. Log in to your PayPal account.
  2. Click Profile near the top of the page.
  3. Select My Money.
  4. Click Unconfirmed next to the bank account you want to confirm.
  5. Submit the required information. (You’ve 3 attempts)

If the bank account is for a business or more than one person is required to authorise debits, you must print and sign a paper Bank Funding Instruction and post it to the address provided on-screen.

 

 

If you don't get the deposits or code or both, all we can do is suggest contacting customer support direct for additional assistance.

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LeePP
Contributor
Contributor

Thank you so much for your help, snowshoe, it's so kind of you to advise me. When I looked at my bank details on my paypal account, it states 'unconfirmed deposits sent'- and it gives a date months ago. So this presumably means that paypal has already sent a code for me to use but I didn't notice it at the time. Woops! Sorry paypal. Will this code still be valid and should I put this code onto my paypal account to verify my account? Or will this code be out of date now? Thank you for any further advice you can offer. LeePP

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