Setting up Pay Pal

[MobileCheese]

Hi,

I set up a Pay Pal account years ago and when I did it then I had to do some one of payment for a £1 on my Credit Card, and then I had look at my statement for that payment and some code and use that to verify the card.

I couldnt remeber that account login so had to setup a new account today. This time though it didnt ask for anything I just had to add my card details, is that correct can I now use my PayPal account and payments come off my Credit Card ??

[KevinS]

That's how I set mine up (no £1).. They do have other methods (phone calls and the like) if you want your Paypal account to be verified, which allows you to transfer more money.. IIRC, the unverified account has a total limit of £500 (or it used to be, at any rate)..

[NickFitz]

As KevinS says, an unverified account is limited to some spending limit or other - check the FAQs at PayPal. If you want to verify your account, they'll deposit a small sum (like 37p) in your account and you then tell them what it was, to prove that you can see what happens with that account and are therefore, presumably, the owner. So you actually get a few free pennies for verifying the account

On the downside, by verifying the account you are also giving them a direct debit mandate for that account, with all the potential downsides if it gets used fraudulently or incompetently

[Sockpuppet]

Verify the account then delete the bank account.

Then just take funds on CC. Means you are covered if/when some tyke steals your password.