Below is a copy of a message to me from PayPal.
It is about being verified by PayPal.
I have no limits on my credit card or haven't ever reached a limit no matter how much I've spent.
PayPal flat out keeps a tally from the day you start using PayPal and ,if you don't verify yourself by giving them access to you bank account info, will not lift the TOTAL spending limit.
Read it closely. They want ACCESS to my bank account.
They want me to accept PayPal for payment so that THEY get a chunk of my money.
They give out your bank info and your credit card info to undisclosed third parties.
Think about this, your credit card company has already SCREENED you. Everything in this message is baloney. It's designed to further PayPal's hooks into its users.
Therefore, I simply don't use them anymore.
I don't mind using snail-mail to send out money and the seller keeps more of my money.
I would appreciate an address to send my donation.
This is the message text below.
Dear Woodrow,
>
>Thank you for contacting PayPal.
>
>If you don't add your bank account your sending limit will eventually
>reach zero. Please note that just because a bank is added does not
>mean that you have to use it. You can still send money with only a
>credit card, you will just have to designate it before you finalize the
>payment.
>At PayPal, security is our top priority. We encourage our members to
>become Verified to help maintain the highest possible security. To
>become Verified, simply register and confirm ownership of a bank
>account.
>
> · This proves your identity and tells us that you have passed the
>screening process of another financial institution -- making our
>payments network safer for all members.
>
> · Confirming your bank account also allows you to withdraw money
>from your PayPal Account directly into your bank account, and vice
>versa.
>
> · Further, confirming your bank account helps us keep PayPal free to
>consumers, by lowering transaction costs, and helps fight fraudulent
>use of credit cards.
>
>Our verification system benefits Sellers through our Seller Protection
>Policy. PayPal's Seller Protection Policy for the PayPal service
>protects Verified Sellers up to $5000 per year against fraud when they
>receive payment through PayPal. PayPal's Seller Protection Policy only
>applies to Premier and Business Accounts.
>
>We recognize that you may be concerned about the security of your
>checking account information. PayPal employs the safest encryption
>system on the Web to safeguard your account information. In fact, if
>you carry a U.S. Dollar balance in your PayPal Account and do not
>enroll in the PayPal Money Market Fund, PayPal will pool your funds
>together with funds from other Users, and will place those funds in
>accounts at one or more FDIC-insured banks, up to a total of $100,000.
>
>When you become "Verified", you will receive the following additional
>benefits:
>
> Your sending limit will be lifted.
>
> · You'll be eligible to receive a $5 sign-up bonus.
>
> · Other members will see your status as "Verified" -- building
>confidence among buyers whom you do not know.
>
> · You can easily add funds to your PayPal Account from your bank
>account.
>
> · You can transfer funds between accounts at different financial
>institutions by using PayPal as your financial hub.
>
> · For every bank account you confirm between now and the end of the
>month, you'll get an entry in our $1000 Verified Member Sweepstakes!
>
>If you have any further questions, please feel free to contact us
>again.
>
>Sincerely,
>Robert
>PayPal Customer Service