posted on August 7, 2001 10:24:48 AM new
I have a Paypal Business account - We added our bank account to become verified and were told it had been added but couldnt be verified. Weve had our merchant account linked to this bank since 1993 with no trouble. We keep seeing a note which reminds us our spending limit is such n such and when its reached we will have to become verified. This is a catch 22 ? So does this mean that we are being asked to leave when the spending limit is reached ? Can my banker contact paypal and be added to their "List" so that we can be listed as a verified member. Id like to continue to offer our customers the benefit of Paypal transactions but is becomming awfully painful, Ive called customer service and emailed till my fingers hurt. No response - What do I do now ?
posted on August 7, 2001 10:58:48 AM new
Typically, when a poster asks why they can't have their current bank account verified, PayPal's response has been "Try another account".
posted on August 7, 2001 02:32:17 PM new
Hmmm... Im sure that if I knew which banks were preferred and opened an account or moved my business account there - then I would be allowed to be verified -But Its complicated and expensive to move business accounts especially when merchant processing is in place. Opening an an extra bank account just to meet Paypal verification costs money - service fees and min balance requirements. If your a bank or you provide banking services Its a normal thing to conduct business with other banks. I just want to know why I cant use my bank - Its FDIC insured and they do electronic exchange transactions.
posted on August 7, 2001 02:51:49 PM newI just want to know why I cant use my bank...
The only answer I've ever seen posted is "Because we said so". I have never seen a post to indicate that they are willing to make available a list of "approved" banks.
If they ever tell you why you can't use your bank, I'm sure that there are people here who would like to know the reason.
