I want to know about Expanded Use Enrollment. What is it? What is the use of it? When I tried to verify my account, they said to make Expanded Use Number. They also tells that it have a fee of 1.95 USD. Is this is the only way to verify my account? Do I loss 1.95$ for verifying my account? What is the use of Expanded Use Number?
It is used to remove your account limits on paypal like withdrawal limits , sending limit and you wont lose your $1.95 as these will be returned to your account after you complete the verification procedure . Read there FAQs !!
Are you sure with this? I can't understand their FAQs they only gives smallest explanations for every things. What they are really doing on this process? Can you please explain your experience with this process........ Thanks in advance....
The purpose of the Expanded Use Enrollment is to verify your identity. Since credit cards are offered by the banks, the banks would do all the necessary identity checks and creditworthiness checks on you before issuing you a credit card. So instead of duplicating the work of the banks, Paypal relies on your bank's approval of your credit card to verify your account. The premise is that only the actual credit card holder will have access to their credit card bill so the Expanded Use Enrollment would work. What Paypal does is charge US$1.95 to your credit card and on the description for that transaction would be a 4 digit number which is unique to you. When you receive your credit card statement, you will be able to find that 4 digit number which you need to key into paypal. Once the number matches with paypal records, your account would be verified. In a week or so after verification, the US$1.95 will be refunded to your paypal account. Basically, if you do not own the credit card then you will not have access to the credit card statement of the card holder so basically you cannot just make up a number or use a fake number or someone's elses credit card number. Hope that explains it for you.