What is the agreement I am entering into if I "Confirm" a credit card

[mikeavison]

I am financially cautious, and don't like to sign up to agreements I don't understand.

I have a credit card registered with Paypal and it is accepted by Paypal as my preferred method of payment.

However the screen encourages me to "Confirm" the credit card. I am concerned that a) I don't know what the implications are of doing so and b) I may be signing up to some T&C which are "freely available" if you know where they are hidden away on the web site.

The only hint I have on the screen is about some undisclosed spending limits and withdrawal limits. see message:-

"Want to use your PayPal account with no spending or withdrawal limits? Confirm your card"

Since I don't know what the limits are I don't know if I care about confirming or not. I feel there are probably other conditions attached, otherwise why have the confirmation process at all? Why not just accept card payments up to the card limit for everyone? It all seems tricky and suspicious.

I feel it is very silly of Paypal to put their customers in this situation. If anyone from Paypal is reading, take note, please explain why you do this and why you are not up front with all aspects of the agreement we are asked to enter into when "confirming" a card.

Thanks

[kernowlass · Accepted solution]

@mikeavison 

Confirming your card just proves that you 'own' it and are not linking another persons card etc.

All that happens is a code goes to your card statement account and you go and enter it in your paypal wallet by the card you added to prove you own it as you received the code to your card account.

[Hezekiah1]

"Want to use your PayPal account with no spending or withdrawal limits? Confirm your card"

No spending or withdrawal limits? Can that really be true?