Just signed up a PayPal acount, then what should I do?

[shadow_boi]

Sorry for being a newbie. I just signed up a paypal account yesterday, still not verified, it's a persinal one.

1) Do I need to be verfied before I actually use it? I only need it to recieve money via paypal but not spending.

2) There are 2 ways to get verified, one is by bank account, the other one is by credit card, do I need to do both? I aleady submited my bank account info, and waiting.

 

[CrazyTech]

1) I'm not quite sure about a credit card, but since you're using a bank account you'll have to wait until all is confirmed to send. You can receive money into your account but I believe the withdrawing process from your Paypal account is easiest once it is verified.

2) You don't need both (at least for Americans). They should contact you with the process to confirm you bank account soon.

 

[smub]

to empahisize even more

they are going to send two payments to your bank account within 3 business days and it will be in b/w 0.01 - 0.99 USD$

call your bank and find out how much cents are dropped then go to your paypal account and click on confirm bank account and then type those two numbers and thats it

if you are a canadian citizen your paypal does not need to be verified to either send or recieve. But if you are a U.S resident/citizen your account need to be verified but you can still recieve payment unverified

 

[shadow_boi]

thanks CraztTech and smub.

I am a canadian, so I can send and recieve money now?
one more question, is there any transaction fee via paypal?
If so, how much is it and who pays for it?

Thnank you for helping the newbie.

 

[barefoottech]

All your questions are answered on the Paypal site
but it basically says as the others have stated.

 

[smub]

if you are on a personal account there is no transaction fees but you cannot recieve credit card payment

In order to recieve credit card payment you must update your account to business one and then it charge for paypal fees

And Yes, if you are a candian citizen you can go ahead and recieve and send np$.

 

[lowco2525]

EDIT: Yeah smub posted as I was writing.

For personal paypal accounts, adding and receiving funds are free.

For a better look at this, go to the bottom of the paypal homepage, and click the 'Fees' link.

 

[duskdawn]

if you are on a personal account there is no transaction fees but you cannot recieve credit card payment

And you have a receiving limit of $500, so if you receive payment over $500, you need to upgrade.
So generally reg two account, one is personal and one is business or premier to receive more payment. You can transfer (pay) funds between your two accounts, and of coz, from business account to personal one. Correct me if I am wrong.

 

[kjmz]

My brother actually just made a PayPal account and added a credit card. To my surprise their system is actually different now. An automatic bot will call the credit card owners number, if it is the right one and you will have to enter the number that it says on the website on the phone. If that makes sense to anyone.

 

[staskul]

You should get verificed accound. And use ure credit card to autorise it

 

[slider]

2) You don't need both (at least for Americans). They should contact you with the process to confirm you bank account soon.

Not for me.

I needed both a credit card and a bank account to become verified.