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Paypal deposits
 

Hey guys. Just wondering what is the difference between the two types of deposits.

The two deposits and the 1p from which you receive the 4 digit code?

They do two deposits anywhere from .01 - .99, and to confirm your bank account you need to enter those deposits into paypal on the correct menu screen.

I don't mean to be rude but can you please re-read my question. I was asking what is the difference not how do I.

The code you are referring too is probably a CC verification code (4 digit code).

No these are both to a online savers account, bank account. I would like to know why are there two different types. What are the affects of each one, if any.

Okay let me restart.

Can someone explain what is the differnce between the two different types of deposits to verify a paypal account.

Both deposits are to verify a bank account.

Type 1. Two XXp deposits
Type 2. 1p deposit with the 4 digit code.

Are these UK savers?

:spy:

Yes these are Halifax online savers.

Broadly speaking, the two deposits go onto the account to verify you are the owner of that bank account.

Once they are in your account, it can be usual practice to set up the DD mandate.

The other amount is usually associated with confirming the address as a means to raise limits.

In the below thread, Post 5 defines the situation regarding your questions.

http://www.aspkin.com/forums/subscri...paypal-uk.html

Let me know if you are still confused.com

:juggle:

Just looked at that forum, thanks.
But yes I am still 'confused.com'.

Both those deposits are to a bank account not a credit card or any type of card but and bank where I only enter my account number and sort code.

I have had both, but don't understand why and what is the difference between them.

The two XXp deposits takes 3 days and the 1p deposit with the 4 digit code takes no time at all.

From the top again:

your first deposits allow you to prove to paypal you own the bank account. Therefore they VERIFY you.

Your 2nd deposit says Fine we confirm you are telling us you want your limits raised. We are able to 'confirm' that request by giving you a small deposit plus a special code. When you enter that, your paypal is confirmed....

Are you getting confused because you are using a savers account?
:spy:

I only get one or the other when opening a new paypal account. I don't ask to raise or get one then another later.

Sorry didn't read that correctly.

So what you are saying is that it doesn't matter what one I get because they both do the same and have no difference?

There are two ways UK Paypal verify an account.

The first is the "traditional" way where they send two small deposits to your bank account. These usually appear in the bank in around 3 working days. You enter the two amounts into paypal to verify the account.

The other method is basically instant as Paypal uses FPS (Faster Payment) to send £0.01 to the bank account. When you look at the payment detail there is a four digit code. Enter this into paypal verifies the account.

There is NO choice to which method is used. I have found it is approx 50/50.
I think over time all accounts will verify using the £0.01 instant method.