PayPal $10K unverified limit?

[keithw]

This isn't directly knife-related, but since I use PayPal a lot for my knife purchases, I thought I would see what you guys think.
I got an email from PayPal saying that I'm close to hitting my $10,000 lifetime (unverified status) limit.

I went to their website and it looks like I have 2 choices to get verified:
1. allow them to draft my purchase directly from my bank account.
2. sign up for a PayPal credit card to draft from with a minimum 19.99% interest rate.

I don't know which scares me worse, signing up for (another) high interest credit card,
or realizing that I've bought almost $10K worth of stuff through PayPal in 12 years.

Have any of you had this come up?

Thanks
Keith

[gino]

Keith, we had our itentity stolen through Pal Pal a few years ago so I wouldnt trust anything they offer you. They left us out to hang by ourselves too. Our personal bank saved our butts during the entire ordeal but Pay Pal deserted us 100%.
We had over 1000 transactions through them when it happened. They are fine as long as they can get your money but ask them for help in a real serious situation and they will forget they ever knew you.

[big monk]

Keith___you can get your bank acount verified,and still use your,present, credit card,as the ""primary payment"" preferred*** ----after you verify,your bank account,you can transfer funds,from your bank account to pay-pal and pay by that method, also_______I have been a verified member since 1999,and have never had a problem,drafting the payment from my account***** I would not,use any credit card,with 19.99% interest good luck,Monk

[trail]

I'd look at this with a very sceptical eye. Just because the email looks like it came from Paypal and the website it directs you to looks like Paypal doesn't mean it really is Paypal.

[chetr1200c]

i have purchased a lot more than 10k with paypal and never had any email from them stating what you said or anything else from them. i would just steer clear from anything you might even think is suspect.. and this seems like something i would ignore.. i wouldnt even respond to it.. too many hackers out there...

[tc3500]

I opened a completely seperate savings account to use for paypal. Wouldn't really
protect against identity theft, but does not give them access to most of my $$.
Also as most of you know, do not keep a large balance on paypal. Just my 2cents.

[Miller Bro's]

I'd look at this with a very sceptical eye. Just because the email looks like it came from Paypal and the website it directs you to looks like Paypal doesn't mean it really is Paypal

Very good advice

I would make damm sure the email is from Paypal, sign in to your account and respond to them from there, not from an email you received.

[paulsvintage]

Keith___you can get your bank acount verified,and still use your,present, credit card,as the ""primary payment"" preferred*** ----after you verify,your bank account,you can transfer funds,from your bank account to pay-pal and pay by that method, also_______I have been a verified member since 1999,and have never had a problem,drafting the payment from my account***** I would not,use any credit card,with 19.99% interest good luck,Monk

thats what i do plus you get your paypal points

[trey]

I have seen a lot of spam emails that say they are from paypal. Be very careful
answering that one.

[tjmurphy]

ALWAYS LOG IN TO PAYPAL FROM THE ADDRESS BAR - http://WWW.PAYPAL.COM!!!!!

[danno50]

I have never understood this. I always pay my credit card in full so why is the address to which my credit card company sends the bill not verifiable? Paypal is always asking for my bank account info so they can "verify" my address. I say to hell with them, they are never getting my bank acount info even if it means to quit using Paypal.

Dan

[Elvis]

Everyone handles it differently, but the great advice I've seen here that I do is: 1. that I set up a separate checking account just for attachment to my paypal account. 2. I never transfer more than $20 or so more than I need to that account so that if my paypal gets hacked, they won't get much, and 3. NEVER respond to paypal through an email. Log-in to the paypal site and conduct all business from there.

Since I did step 1 first, just for paypal purposes, I was "verified" from day one and even though I have a paypal credit card, I NEVER use it and there are no charges. I forget what benefits made me sign up for it, but there were some, and since it doesn't carry any fees if it isn't used, I got one (I cut it up shortly after I got it though). I think that these 3 steps are what's kept me safe and hassle-free using paypal for well over 10 years. Best of luck on deciding what to do!

[keithw]

Thanks for all the feedback.

I never, ever click a link in an email. When I got the email I logged into PayPal from the browser, and sure enough it was a legit email.

I think it was Paul that suggested letting them verify a low-balance account, but still use my current credit card as the "primary". I dug around on their website and found that to be true. The only downside is that the bank account will always be the default, so you have to manually change it to the credit card each time you check out. I already have a small savings account that I use as overdraft protection on our checking account, so I think I will let them link to that.

Thanks again for all the suggestions,
Keith

[tortelvis]

i googled paypal reviews to find aboutpaypal.org . it seams like a nightmare for sellers. very depressing.