verified

[TexasBud]

I dont understand the benefit of being verified?  I am used Paypal for years now and I haven't experienced any issues.  I have a credit card on file and use it quite often.  How is adding my bank account info going to help me?  I don't want to share my bank account information wit h anyone.

[steeeeveee]

we need to vote with our dollars.  i agree with everyone here, im not opening another credit card (could potentially damage my credit score), and NO ONE gets my bank info.  im trying to complete a purchase today.  if i cant do it then im canceling my paypal account (ive been using pay pal with no problems for 7 years or so, all of a sudden they need more info).   if you dont like the policy then cancel your account.  if you're a seller and you see this policy as a hinderance to your sales (and it is) , then CANCEL YOUR ACCOUNT.  if enough people cancel then pay pal will have to reevaluate or go out of business.  truth is, its so easy today for a vendor to just accept credit card payments directly that paypal's usefullness may be outlived anyway.  Vendors, this policy will decrease your sales!   credit card vendors will gladly give you a credit card processing machine for free in order for you to use their service rather than use paypal.  your customers will be happy

[bsalert]

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@PayPal_Andy wrote:

As far as the general purpose of verification; .... we are required to know a little more about you.

We use adding and verifying your bank account for this purpose since in most cases, you had to walk into a bank and provide them identification to open an account.  If you can prove ownership of that account, we use that verification to assist in our verification. 🙂

Andy

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This idea that verification is for the purpose of confirming you identity is also echoed  in many places on the PayPal website. This statement, probably created by sales and marketing and spewed by all the minions (like Andy), is belied by this fact:

After becoming "verified" by bank account, PayPal will take away your "verified" status if you then remove your bank acct. Here's a quote from their help pages:

Why did I lose my Verified account status?

"Your account becomes Verified when you link a bank account or add the PayPal Extras MasterCard® to your PayPal account. If you removed this, then your account is no longer Verified."

Did unlinking your acct or PayPal CC somehow change your identity?

Also, if for identification, then other options should also suffice. Stop pushing your Profit Margin Expansion on us as a security measure thats good for the community as a whole.

I call BS on Andy and the other minions that continue to spew this crap.

Also, and I quote again from PayPal's web pages, they misrepresent the "verification" process:

"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®."

Being "approved" for the PayPal credit card isn't enough, what they really mean is "being approved, accept and link your PayPal credit card."

[krklek]

I know how all of you "feel", but let's face it, with a company that has MILLIONS of accounts, if all of the posts in this thread up and left paypal, they wouldn't give a **bleep** ! !  That's because more and more people ARE signing up for NEW accounts.  Face it, when you are as big as Paypal (oh, and they also OWN eBay now!!!), you can do what ever you please!!

But, I will say this, I've been verified for YEARS and it's no big deal.  YES, they have my bank account number.  If you really are AFRAID that someone is going to hack into paypal and get your account number, then simply go to the bank, open a new account and only put say, $10 in it.  After that, once your money ($10) is gone from THAT particular account, then all further purchases will automatically be routed to your credit card.  Pretty simple huh?!?!

Plus, you have to look on paypal's side, what if YOU max out your credit card?  Do you really think that paypal wants to deal with a bunch of charge backs and "trouble" because YOU maxed out your card?  NO THEY DON'T!  And if I were a merchant, like paypal, I wouldn't want to deal with all that crap either.

You can whine all you want, but paypal isn't about to change for you or even a thousand or ten thousand of you, if they continue to have MILLIONS and TENS OF MILLIONS of accounts that are making them money!!!

So, unfortunately, paypal is telling you (as nice as they can) to PUT UP or SHUT UP.......what's it gonna' be????  Anything further is YOUR call!!

And THAT folks, is the REAL WORLD we live in!!!!!!!!!!!!!!!

[shar1ford]

Thank you Wayne, but I'm an old blonde and that was about as clear as mud.  Again, if I have been using my credit card, why do I have to give bank account information.  I have had my bank account hacked into and DO NOT want to give that information out to anyone.  If using my credit card has worked this far, I don't understand why I have to give my bank account information.  I shouldn't be forced into giving personal credit information, especially with identity theft as bad as it is.  What guarantee do I have that a disgruntled employee of PayPal won't wipe out my bank account?  If I can't continue to use my credit card information but instead have to give my bank account information out, even though I won't be using my bank account, then I will simply have to quit using PayPal. 

[lsfinas]

Where does the money come from to pay the seller after I am verified? Does it still come from my credit card?

[lsfinas]

ANSWER THE QUESTION!

Once verified do you take the money ONLY FROM THE CREDIT CARD AND NOT THE BANK ACCOUNT!!!!!!!!!!!!!!!

[argusmike]

I like Paypal and use it all the time (via a dedicated bank account that has no links to any other) but deduced long ago that  the "verification" process is almost wholly a monetary consideration by Paypal. Think about it folks: if your Paypal payments are funded by your credit card, who gets the 3% Paypal commission? Right! Your credit card company. Imagine what Paypal's profits would be if they had to give all or most of their 3% take to Visa or Mastercard. About zero.

[shar1ford]

I agree with you!!  Has anyone at Paypal responded to just why you HAVE to get "verified" if you have been using your card for years with no problem.  With all the identity theft, I don't want anyone having my bank account information, especially since I won't be using it anyway, plus I just paid off all but my Mac card and certainly don't want any more.  What is the scoop on this?

[gatogonow]

It's all pretty smple, "Verify" is Pay-pal speak for greater profits. It has nothing to do with security for you what-so-ever!

[BonnieVentures]

New Ebay and PayPal user..... My paypal account is now Verified, but ebay is not letting me checkout ($230 item)because my paypal account (linked to a bank account with over $10K) does not show being verified through ebay's checkout.  The ebay checkout link to "Continue" does not go anywhere. 

Help appreciated, thanks

/bonnie