Thursday, January 3, 2013
How to Get a PayPal Verifiable Checking Account
Open a Checking Account
1. Pay any debts owed on old or closed bank accounts. Banks will check your credit history and will not allow you to open a new account if you still owe money on bad checks or charges.
2. Visit your local bank and decide what type of checking account is best for you. Basic checking, free checking and student accounts usually have a low minimum balance, if any. Interest and money market accounts earn interest, but have a high minimum balance. Be sure to find out if there will be fees associated with the account.
3. Open an account with the banker. The bank will require a photo ID, proof of address and Social Security number. A driver's license with your correct address should be sufficient. A utility bill may be needed if the address on your license is incorrect. The bank will also require an initial deposit. The amount of the deposit depends on the account you open.
4. Log into PayPal and enter your new account information into the 'Get Verified' form. PayPal will then make two small deposits under $1 into your checking account.
5. Check the amount of the deposits with your bank. Log onto your PayPal account and enter these amounts into the 'Get Verified' tab. Once you submit the correct amounts, your account will be verified.
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