How Much Money Can You Withdraw from an Unverified PayPal?
By Willa Dunn
PayPal is a popular online payment service for consumers and businesses. Three types of accounts are available based on customers’ varying needs. In addition to the personal information required in the initial sign-up process, PayPal has a verification process to determine evidence of identity in a more secure way. An account is unverified, with certain limitations, until this process is completed.
Visit the PayPal website and click on the “Sign Up” link to create an account. No fee is required, just an email account and basic information. The email address serves as your login and point of contact for the account. PayPal sends a link to the email address, which must be clicked to provide ownership confirmation.
PayPal offers Personal, Premier and Business accounts. The Personal account is a basic account for simple, non-ecommerce use. Customers may have up to two accounts, Personal and Premier or Personal and Business. Each account requires unique financial and email address information. Personal accounts can be upgraded by the customer at any time.
Unverified Withdrawal Limits
The initial withdrawal limit placed upon an account until it is verified is $500 a month. The month starts upon account activation and continues to the same day of the next month. This limit can be lifted by the verification process which authenticates your identity with PayPal.
The verification increases customer confidence when trading with a PayPal seller. Verified status informs PayPal that the seller has passed certain PayPal security checks to confirm their identity. It is not a mandatory process but is required in order to remove a withdrawal limit. You can become verified in one of two ways: providing confirmed bank account information or by being approved for a PayPal credit card.
Willa Dunn has been writing since 1970. She has written website content as well as technical documentation, poetry and fiction. She specializes in gardening and technology-related articles. Dunn attended Illinois Institute of Technology and the University of Illinois, studying photography and computer science. She enjoys home gardening.