Why Can I Not Receive Money on Paypal
How to Make Your PayPal Account Able to Send and Receive Money
- Small Business |
- Money & Debt |
- Making Money
PayPal is a company that acts as a payment processor. Once you sign up for an account and complete its requirements, you are able to send money to anyone with a PayPal account, make payments online to any business that accepts Paypal (and many companies do, for example, Walmart, Target and iTunes) and recieve money from anyone with a PayPal account. You can send and receive money right away but are limited in the amount per transaction and in total transactions per month until you verify your account.
Verifying Your PayPal Account
Verify your bank account if you provided one at sign-up. Go to "Profile" and then "Bank Accounts." If your bank supports online banking you can give PayPal your banking user name and password (they will not save that information) and the system will log into the account once to verify your identity. Otherwise, PayPal will make a small (less than $1) deposit and withdrawal to your account within a few days and ask you to enter the amount of those transactions to verify the account belongs to you.
Verify your address. The easiest way to do this is to add a debit or credit card to your account. PayPal will automatically verify the address on the card and no further proof of address will be required. If you do not want to add a card, however, you can request that PayPal send you a letter with a verification code on it. Once you receive the letter, enter the code and PayPal will accept that as proof of address.
Verify your phone number. Paypal will either call your phone or, if you are using a cell phone, send you a text message with a code. Enter that code to verify that you own the number and you will be able to use your phone to send and receive money as well.
References
Tips
- Once you have completed PayPal's standard verification your spending and receiving limit (which is generally about $500 a month) should be automatically lifted.
Warnings
- If you do a large number of transactions or transactions of large denominations, you may trigger an account freeze for security purposes. This is more common when the transactions seem out of place, for example, a personal account that is high traffic or a small business account that suddenly starts processing large transactions. If you plan on changing your usage, for example if you start a business, change your account to a business account to avoid unneeded complications. If you do trigger a security freeze, you will still be able to receive money but you will be unable to send or withdraw it until you give PayPal more documentation of your identity. This usually involves sending them copies of your driver's license and social security card, for individuals, and business paperwork if you are a corporation or other business entity.
Writer Bio
Based in Denver, Jason Bodary has been writing about and working with computers since 2000. He holds a Bachelor's in web development as well as a Masters in software engineering. Bodary became a writer out of a need to fuel his addiction to reading.
Why Can I Not Receive Money on Paypal
Source: https://smallbusiness.chron.com/make-paypal-account-able-send-receive-money-72572.html