In this fast paced world that we live in, most operations are dealt with by using the net. From placing orders to accepting money, every deal is handled by a few clicks away. And if that is not convenient enough, there are even ways on how you can link your bank account to certain money transfer sites online for a smoother and less time consuming transaction. Here is how you can verify your bank account for Paypal.
- What you will need. To get you started, you need to have access to the net and an existing Paypal and bank account.
- What you need to do. Access your Paypal account by putting in your log in information. This information should only be available to you and not disclosed to anyone else. Upon logging in successfully, a page will open up showing you your account information. A to-do-list will be visible on the right side of the page. You will then see a hyperlink that says “add or verify your bank account”. Click on this link. If for some reason that option is not available, navigate your way through it by accessing “My Account” tab situated on the left corner of the page. Upon choosing that tab, a number of sub-tabs will then be shown on your screen. You have to choose “My Profile” followed by “Add bank account.” An information sheet will show on your page. You need to fill this out completely. Avoid shortcuts and do not abbreviate. A diagram is also available below the page to guide you in putting the right format of your bank account number. It also displays where you can specifically find the account number required from you. There are also several instances when it would prompt you to put in your bank’s routing number. Again, the diagram will be extremely helpful as a reference for this. Once done, just hit the continue button. What would ensue next is a credit on your account from Paypal. Two deposits would show on your account. The amount would be less than a dollar. It normally takes three to seven days for the deposit to reflect on your account. In order to complete the process in a shorter time, it is not necessary for you to wait for your banking statement. You can check if the deposit was transferred successfully by checking your bank account online. Once you see the transfer, you can now log back to Paypal. As soon as you’re in, access “Verify your bank account ” link, you will then be prompted to enter the amount deposited and the code, which will serve to complete the authentication process. If transaction charges would appear on your end, worry not, because Paypal will reimburse the amount. The moment the information is validated a “Paypal Verified” logo will show in all of your transactions.
So there you have it! Authentication of your bank account is still up to your discretion. Doing this however, helps in taking out unnecessary payment restrictions, since Paypal can provide backup that your account is legit and was validated.