Paypal question, want to buy something but...

[vtohthree]

Well I've been on and off ebay throughout the years but never bought things regularly(or even yearly). Now I want to make a purchase but most sellers request that you are "paypal verfied", understandable since they want to verify you for their security since it's money.


However, I noticed that in order to get verfied you can either get your bank account verfied with them or open up a new credit card with paypal. I wouldn't mind using my bank account to verify my identity, however I was curious to know if paypal has direct access to the money in my bank account,

or

Do they only use my bank account to verify my identity, and have no power to tap any money going in or out into my [bank]account?

They said on the website that all transactions would be confirmed etc. etc. but I don't trust paypal to take money in or out of my bank account directly, I'll accept if I get to take money out to my paypal account and yes, I understand/take risks that paypal will take money in and out of my paypal account, but NOT my bank account.

Any veteran ebayers know about it or can clarify this? Thanks in advance~

 

[vtohthree]

bump?

 

[imported_Baloo]

You don't need a paypal credit card or link to a bank account to get verified. It's Your address that needs to be verified, any credit card will do for that, so long as your credit card company has the address you ship to as a valid address for the account, you are good to go.

EDIT: Oh, thought I should add. Yes, giving your bank account info does give them access, which is why I will not link to a bank account. Use a credit card.

 

[vailr]

AFAIK, Paypal still offers "snail-mail" address confirmation.
They send a code via snail-mail, which you would then type into their web site form.
Many Paypal accounts (including mine) are "personal" accounts. Outgoing funds are allowed to be funded via CC's,
but incoming funds cannot be funded from someone else's CC; only from funds already in the other party's account or else
via direct bank transfer. Upgrading to a business Paypal account involves fees, whereas personal accounts are free of fees.
So: one could have a personal account and avoid giving either bank account or credit card information altogether. Just sell an item, get paid (via the buyer's funds-on-account), and keep the Paypal money on account for later use when purchasing some other product.

 

[vtohthree]

Thanks, I was not aware of the snailmail method as they didn't flaunt it. They apparently gave me two options but I guess they were hiding something they didn't want me to know.

 

[Xylitol]

Originally posted by: vailr
AFAIK, Paypal still offers "snail-mail" address confirmation.
They send a code via snail-mail, which you would then type into their web site form.
Many Paypal accounts (including mine) are "personal" accounts. Outgoing funds are allowed to be funded via CC's,
but incoming funds cannot be funded from someone else's CC; only from funds already in the other party's account or else
via direct bank transfer. Upgrading to a business Paypal account involves fees, whereas personal accounts are free of fees.
So: one could have a personal account and avoid giving either bank account or credit card information altogether. Just sell an item, get paid (via the buyer's funds-on-account), and keep the Paypal money on account for later use when purchasing some other product.

I can't find the snailmail option. It says CC or Bank Account.

 

[vtohthree]

Originally posted by: Xylitol

Originally posted by: vailr
AFAIK, Paypal still offers "snail-mail" address confirmation.
They send a code via snail-mail, which you would then type into their web site form.
Many Paypal accounts (including mine) are "personal" accounts. Outgoing funds are allowed to be funded via CC's,
but incoming funds cannot be funded from someone else's CC; only from funds already in the other party's account or else
via direct bank transfer. Upgrading to a business Paypal account involves fees, whereas personal accounts are free of fees.
So: one could have a personal account and avoid giving either bank account or credit card information altogether. Just sell an item, get paid (via the buyer's funds-on-account), and keep the Paypal money on account for later use when purchasing some other product.

I can't find the snailmail option. It says CC or Bank Account.

I'm on the sameboat, I don't see a snail mail option either, maybe they cut it out since it's easy to fake.

 

[Marinski]

But if you do it with a CC, don't you have to use a Paypal card or apply for a paypal card to do it. Thats what it says for me.