Paypal limit before verification
- Thread starter maloxi
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Exceeding the limit has nothing to do with verifying your account. Verifying your account suggest you haven't linked your paypal to your bank or mobile telephone. Usually they deposit a cent or two into your bank account and you then have to verify the correct amount of deposits made by them. Could be for other reasons but try reading their FAQ's.
When you first open a PayPal account, there is a limit on the amount of money you can send-usually $2,000 USD. Once you reach your limit, you'll need to add a bank account and become Verified in order to continue making transactions.
A Verified seller has provided additional evidence of their identity to PayPal by passing key security checks and completing the PayPal Verification process. Verification increases the overall security of the PayPal network because most buyers prefer to do business with Verified sellers.
The Verification process varies somewhat from country to country.
In the US, a Verified member has either added and confirmed a bank account with PayPal or received approval for a PayPal Plus credit card.
A Verified seller has provided additional evidence of their identity to PayPal by passing key security checks and completing the PayPal Verification process. Verification increases the overall security of the PayPal network because most buyers prefer to do business with Verified sellers.
The Verification process varies somewhat from country to country.
In the US, a Verified member has either added and confirmed a bank account with PayPal or received approval for a PayPal Plus credit card.
yes that is correct.
it might depend on which country the paypal account is created but if i know 100% if it's an Australian paypal account. You need to verify if you have over $1000 in your paypal. This limit is nothing to do with paypal. it's actually a limit that the government sets to monitor money laundering. i think every country has a different limit as each government puts a different limit. I know in Australia it's $1000. i heard US accounts is $2000 but not sure.
Anyone knows the limits for Germany? I don't mean send/receive limit (that's 2000€ a year for unverified bank/cc), but the approx limit when they ask for all the verification crap (water/gas/phone-bills with name on it, passport scan, etc). Or can I fully use the send/receive limits without ever to verify my identity?
This.
Unless they somehow suspect you, which doesn't often happen in countries like Germany.
Just for info, this didn't work out :-= After receiving some money, a message popped up telling me due to some regulations (money loundering etc.) which apply upon 1800€ within a year, they now need to verify my identity, even though I still have receive limit left. I now have 120 days to verify the account or it will be closed. However, I can still fully use the account and even receive payments (only up to the yearly limit of course)...
Pretty stupid logic. Also funny: I erased the send limit by typing in a prepaid credit card number. Talk about identification...
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