Home Business What are Documents Needed for Verifying Paypal Account

What are Documents Needed for Verifying Paypal Account

What are Documents Needed for Verifying Paypal Account

PayPal, being the biggest online payment gateway, comes across so many security threats as it has over 300 million users. Fraud people are keen on taking advantage of doing unauthorized transactions.

This is why PayPal has to look after the real users and keep the fraud people by Verifying the accounts on PayPal. PayPal usually puts a verification on an account after putting a limitation on transactions on an account.

When you reach the transaction of $7,500, PayPal needs to confirm your identity and put a limitation then. Once you get a limitation on your account, PayPal will ask you to provide several documents that prove that it’s you.

Once you provide all the documents, PayPal will consider your account as a verified PayPal account and lift the limitations. In this article, I’ll talk about what documents you will have to provide to PayPal for verifying your account:

Why PayPal needs to verify your identity

PayPal isn’t a bank that would need to confirm your identity, address, and legitimacy, but it deals with financial institutes. PayPal also has to comply with the government and keep their business transparent to the federal government.

They require you to provide identity proof so that they can provide the information to the government when asked. As you open a Balance Account on PayPal, you will have to link it to the personal account for transferring amounts. Once you confirm your identity on PayPal, you can make transactions with the balance account.

What are documents needed for verifying Paypal account

When PayPal needs to confirm your identity on your account after putting a limitation, they may need several documents. To get you the verified PayPal account, here are the documents PayPal will ask you for:

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Documents required based on the account type

Different account types will require different types of documents for you to submit to verify your account. The information in the documents you’re providing must match the information you’ve provided while creating the PayPal account. For the address validation, it should be dated within the last six months to be sure that you’re providing the right address.

Premier or Personal account

For a premier or a personal account, PayPal will ask you to provide a copy of the government-issued ID document. The document type may vary on the situation, such as Passport, NID, or Driver’s License. Plus, you’ll have to provide proof of the address you’ve provided on the account.

For the address validation, PayPal may ask for a Government document that contains your address on your name. The document could be your NID, a utility bill, or a bank statement on your name.

Business account

If you’re opening a business account on PayPal, you’ll have to provide a government identity document, such as passport, NID, so on. As it’s a business account, you also have to provide the business registration documents from the government.

You have to submit a paper that confirms your business address, such as a utility bill to your business address. If you’re operating the account on behalf of the business, you have to provide an authorization letter. The authorization letter should be on your company’s letterhead with the signature of your company’s director.

Types of Papers

To break down the document requirement of PayPal to verify it’s you, PayPal has some categories for the papers. The categories are, identity, address, Legal change of name, and the proof of business address and name.

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Proof of Identity

For the proof of identity, PayPal may ask you to provide government-issued identification cards. That may include your Passport, ID card, Driver’s license, employment authorization card, Permanent Resident Card.

Proof of Address

To ensure the address you provide is correct, PayPal may ask you to provide the documents that contain your address. The address must have dated within the last 3 months to be sure it’s legit. The documents could be your Utility bill, your credit or debit card information, a financial statement from a bank, or your landline bill.

Proof of Name change

If you have a legal name change and need to change the account information on PayPal, you need to provide documents. PayPal will need you to submit your Marriage certificate, or the certificate for your divorce, certificate for name change, or commitment.

Proof of  Business

The business entities need to provide their business documents, including the articles of their incorporation. You need to provide all the business documents that are approved by the local governing state for businesses. Furthermore, you have to prove that you’re functional in business by providing the current business license.

FAQ

Here are the most frequently asked questions about PayPal account verifications that you should know about:

How long does it take for PayPal to verify my identity?

PayPal usually takes 2 days to verify your identity, if it takes more, contact the PayPal support.

What happens if I don’t verify my PayPal account?

If you don’t verify your PayPal account, it will limit your account and restrict your transactions.

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Should I give PayPal my SSN?

You should provide your Social Security Number to get your sales and credit information.

Can you use a fake name on PayPal?

Using a fake name on PayPal is against the PayPal user policy and enough to get restricted.

What are the 2 small deposits from PayPal?

PayPal will make two transactions on your bank account of $. 01 and $. 99 after setting up.

Final words

Having a PayPal account will help you make your online transactions a lot easier and handier. Most of the marketplaces and sites, whether a service provider or an eCommerce site, accepts PayPal as their payment gateway. If you’re in pursuit of doing your business worldwide, PayPal is the way to go with it. You can use PayPal to convert your currency to any and transfer it to any country, as PayPal makes it easier.

To give you the ease of transaction and provide a safer and more transparent statement, you need a verified PayPal account. PayPal takes authority documents to verify it’s you and to verify you’re using a real address for using the account. To keep using your account without any restriction or getting limited, you must provide the proper documents PayPal asks for.

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