![]() ![]() ![]() It gives people a way to determine which individuals and businesses are trustworthy. In the same way, you would only want to transact with people who are verified users.Īs for the larger picture, the verification process helps to build trust within the PayPal community. By taking steps to verify your account, you are giving other PayPal users a reason to trust you and transact with you. You can already send and receive as much money as you want on PayPal from that point on.Īnother benefit to verifying a PayPal account relates to security and trust. Having an account verified is much like getting a seal of trust from PayPal. The primary benefit is that it removes withdrawal and spending limits on your account. Case in point, a verified user, no longer has any limitations as to the amount they can receive or send through the service.Īt this point, you might be wondering what the advantage of verifying your account is for yourself. The service will be limited until the account is verified. However, these restrictions only apply when the account is verified, after which the restrictions are lifted. Case in point, having an unverified account limits the amount you can withdraw per month to just USD 500. These restrictions include limiting the amount and number of transactions sent and received using the account. That is, they have placed temporary restrictions on unverified accounts. That being said, PayPal has made the verification process mandatory for all of its users. Is the Verification Process on PayPal Mandatory? Photo by Geralt via Pixabay This is unlike other countries like Germany, where PayPal requires users to complete a bank transfer to verify their account. In the U.S., PayPal only requires a user to link a bank/credit account to the service to verify the account. However, it’s worth noting that there are variations in the verification process per country/region. More importantly, it lets other PayPal users know that your information is truthful and accurate. It removes basic restrictions to your account and allows you to send and receive as much money as you need through PayPal. Receiving a “verified” status on PayPal is not unlike receiving a stamp of approval. ![]()
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