Is PayPal Verification Safe?

Internet safety is critical for maintaining secure online transactions.

An e-commerce service, PayPal allows individuals and businesses to complete transactions online. Funds can be sent to and from the user's PayPal balance, charged to a credit card or withdrawn directly from a checking account. Verifying your PayPal account authenticates your identity and confirms you have passed security checks.

Steps

PayPal account verification doesn't cost anything but the process varies by country. For residents of the United States, verification requires adding a bank account to your PayPal account or being approved for a PayPal Plus credit card.

If you opt to add a bank account, PayPal sends you two deposits, which you them enter on the PayPal website. After a confirmation phone call to validate your information, your PayPal account becomes verified.

Security

PayPal uses encryption and anti-fraud technology to secure your account. The company does not share your information with merchants. Upon request, users can receive a PayPal Security Key. This provides unique passcodes for logging into PayPal and is offered through the VeriSign Identity Protection (VIP) Network.

Payments from your bank account are, according to PayPal, "100 percent protected against unauthorized withdrawals."

Benefits

An unverified PayPal account cannot send more than $2,000, but once verified, you can send and receive funds without restrictions or limits. PayPal Premier and Business Account holders are also entitled to a free PayPal ATM/Debit Card, which can be used at Cirrus/Maestro ATMs worldwide.

References

• eBay: PayPal Verification
• PayPal: Frequently Asked Questions -- The Verification Process
• PayPal: Free Yourself From Sending Limit -- Get Verified Today
• PayPal: What is the VeriSign Identity Protection Network?
• VeriSign Authentication Services: Two-Factor Authentication

Resources

• PayPal