Paypal and your details-why do they ask you to link your card details?

July 16, 2008 5:47am CST
I have recently upgraded my Paypal account to a business one.The problem I am facing now is that they want to link my credit card to the account! I do not understand why they allow you to make a business account and then set a withdrawal limit for something rediculous every year unless you link up your card. Do you think this is safe and fair?
1 person likes this
1 response
marina321
@marina321 (4556)
•
16 Jul 08
In my opinion, it is safe and it is fair if it can reduce the amount of fraud and money laundering that goes on. In terms of money laundering, say if someone earned a lot of money from illegal activity, they normally try and make it disappear quickly through assets and buying and selling things. The limits set slow this down or does it?. Also with linking cards, this should help to combat fraud and people claiming to be who they're not. I am all for it if it makes it more secure for everyone
1 person likes this
luciusaloc
@luciusaloc (291)
•
16 Jul 08
Thanks marina.have you done this yourself or are you just giving an opinion. I am really glad i have friends like you I can ask about such things before I go ahead and do it myself. Thanks for respoinding
marina321
@marina321 (4556)
•
16 Jul 08
I have not linked my credit card, no...but my PayPal account is verified. To do this, I had to submit my bank account details and they made two small deposits and I had to tell them which ones they'd made. They also set up a direct debit for any future transfers to PayPal I may wish to make. I believe linking your credit card would be just about the same thing, to verify your identity and account details and in the case of a business account, there'd be more amounts of money going through so I assume the additional ID required. Haven't they asked you for bank details or you prefer to link your credit card?