What does "Micro Deposits" Mean For Verifying Paypal

[alexokc]

Reading over the Stealth Book and got lost when I read one of the "notes."

What does it mean when it says "You'll want your paypal account CONFIRMED and VERIFIED... via micro deposits..."

Does that mean I need to use my connected bank account to make small deposits into the paypal account? If so, how much?

[slokor]

When you link a bank account to your paypal account you can do it in one of 2 ways:
1. Micro deposits - paypal will make two small deposits (hence the 'micro deposits') into the bank account you add. They will then withdraw the amount the deposited. You will be asked to enter into your paypal account the amounts of these two deposits. So if the amounts deposited were $0.11 and $0.05 you will enter '11' and '05'.
2. Instant verification - you will enter your online banking credentials (username and password) and paypal will do an automatic login to confirm the account is yours.
I myself prefer to use option number two - instant verification - since it is as the name implies instant but more importantly it will not 'leak' your real name back to paypal when they withdraw the amounts they deposited into your bank account (Any kind of manual review of the account will reveal the discrepancy between the bank account owner and the paypal account owner names).

[alexokc]

Originally Posted by slokor

When you link a bank account to your paypal account you can do it in one of 2 ways:
1. Micro deposits - paypal will make two small deposits (hence the 'micro deposits') into the bank account you add. They will then withdraw the amount the deposited. You will be asked to enter into your paypal account the amounts of these two deposits. So if the amounts deposited were $0.11 and $0.05 you will enter '11' and '05'.
2. Instant verification - you will enter your online banking credentials (username and password) and paypal will do an automatic login to confirm the account is yours.
I myself prefer to use option number two - instant verification - since it is as the name implies instant but more importantly it will not 'leak' your real name back to paypal when they withdraw the amounts they deposited into your bank account (Any kind of manual review of the account will reveal the discrepancy between the bank account owner and the paypal account owner names).

Thank you so much for your reply! Second option sounds so much easier but I read in the guide that it is not recommended and to just wait the 24-48 hours while the verification process happens between your bank and paypal account. Is there a reason Aspkin doesn't recommend instant verification?

[nate]

Originally Posted by slokor

I myself prefer to use option number two - instant verification - since it is as the name implies instant but more importantly it will not 'leak' your real name back to paypal when they withdraw the amounts they deposited into your bank account (Any kind of manual review of the account will reveal the discrepancy between the bank account owner and the paypal account owner names).

does this still work if its a savings account? and the checking account attached to it is connected to another PP account? and then you want to connect yet another savings account to a different PP?

or is the only option then to do it manually with routing and account #?

[slokor]

Originally Posted by alexokc

Thank you so much for your reply! Second option sounds so much easier but I read in the guide that it is not recommended and to just wait the 24-48 hours while the verification process happens between your bank and paypal account. Is there a reason Aspkin doesn't recommend instant verification?

No idea why eh would recommend micro deposits over instant verification - you can ask him I suppose. I myself much prefer instant verification and as a seller of accounts who has created literally thousands of accounts I can tell you I have only ever used instant verification.

[slokor]

Originally Posted by nate

does this still work if its a savings account? and the checking account attached to it is connected to another PP account? and then you want to connect yet another savings account to a different PP?

or is the only option then to do it manually with routing and account #?

Yes. Those are two completely unlinked accounts and one being attached to a paypal account will have no bearing on the other being linked to a different paypal account.
And yes both can be added using instant verification. I read the instant verification process is done using a third party service provider. it is illegal for paypal to hold onto any of that login information and any kind of proof anyone would have to do them doing so could land them in deep trouble. They wouldnt risk it.

[Chandiesel]

Hello guys
I have a stealth Ebay and Paypal purchased on here. I want to add my bank account so I can withdraw funds and verify the paypal account so I can lift limits etc The bank account I want to add/verify is a savings account I recently opened linked to my checking account which is on my main verified paypal account under my name. What is the best way to add and verify the bank account ? Its at Chase but I would think my login info is the same as for my savings ? Or would it be different? . So instant verification would be a problem as its on another Paypal account and names don't match? Does Paypal do the micro deposits and withdraw to see that names dont match? Woukd it be best to verify and add a different bank account not linked to my savings by instant verification? Any help woukd be most appreciated. You guys are AWESOME ON THIS SITE!! WHAT A GREAT GROUP OF PEOPLE HELPING ONE ANOTHER!!

[cool25]

In order to verified and ovoid virtual banks your paypal account want 2/3 days to get information about that banks
if your bank is virtual paypal won't accept it. My all virtual banks are disabled now