Hello everyone, can somebody tell me if I'm using paypal as my payment processor, do my buyers need to have their account verified first?
Like they have to fax their bank and credit card statements to paypal before they can pay me the money...

I'm afraid that using paypal will be very troublesome for my clients to pay me the money for the 1st time.

Thanks :)

Originally posted by cyberultra
Hello everyone, can somebody tell me if I'm using paypal as my payment processor, do my buyers need to have their account verified first?
Like they have to fax their bank and credit card statements to paypal before they can pay me the money...

I'm afraid that using paypal will be very troublesome for my clients to pay me the money for the 1st time.

Thanks :)

No, each new paypal user can send up to $750 (approx.) before becoming verified.

Unless they're in the UK, in which case before they can use a credit card they need to type in an authorisation code paypal places on their monthly bank statement.

Originally posted by Joseph_M
Unless they're in the UK, in which case before they can use a credit card they need to type in an authorisation code paypal places on their monthly bank statement.

Again, no they don't, they can send up to a certain amount without the code.

The verification code merely gets them verified.

Simon is right in this matter, we have clients who have never used paypal before and have signed up for our services without having to varify their account.

And yes paypal does put a limit on the account before the verification.

Chris

Thats why I can't send money from PayPal using my credit card is it?

I get a message along the lines of:

Please Enter The Authorisation Code That Appears On Your Statement In Order That You Can Add Money To Your PayPal Account Using Your Credit Card.

https://www.paypal.com/uk/cgi-bin/webscr?cmd=_help-ext&eloc=118&loc=113&unique_id=1880&source_page=p/ema/index-outside&flow=

Paypal wouldn't set up a system that disabled new buyers from buying anything until their credit card statement came (up to 30 days, as online banking does not always show this code).

Paypal are a lot of things, stupid is not one of them, especially when it comes to new users sending money (that they, in turn, make money from)

Yes - there is a verification process but only after a PayPal buyer exceeds the preset limit of $750 or whatever it is currently set at.

After they exceed this limit - PayPal makes two deposits into their bank account for a small amount of money - like .02 and .05. This process takes 2-3 days. As part of the validation, the buyer has to give his/her checking account information to PayPal.

Then the PayPal buyer needs to call their bank, get the amounts, log back into PayPal and complete the verification process with them. Then this person can send additional funds.