I do not have a bank account set up with my PayPal account and currently my account is unverified. I have over $300 sitting in my account right now. Is there any possible reason that PayPal might have a problem with this? Is there any sort of limits PayPal puts on unverified accounts
Well, as far as we know, in most normal cases, you just have a limit on receiving funds and sending them if you are unverified. But there are a lot of cases where an account gets suspended for no reason at all
Say I play everything clean. I only have 1 account, and recieve daily payments usually under $20. Sometimes I recive larger payments but the most I have recieved at 1 time is $50.
well if you keep on receiving money and your paypal is not yet verify, there will be a possibility that they will limit your account. so as early as you can get a credit card or debit card in order to pursue in using paypal without any problems.
i created a new paypal account recently for a friend of mine, i made a payment which was £100/$200 and they limited my account. took me around a month to send over all the paperwork, and such to get it unlimited. i would reccomend that you complete all the steps to have any limits listed and to become a verified user if you do decide to make any large payments
the most important thing is when you will be using your paypal. you should put correct all the information so that you won't get any problem when they will be asking for your documents.
Like the rest said, if you do not verify your account, it does not give Paypal any reason to trust you and thus you get limitations. Basically there is no limits in terms of the money you can receive but there is a limit to what you can withdraw or spend. In the end, you will not be doing yourself as justice because the money would just be sitting in your paypal account collecting dust. When you verify your account, you can indeed withdraw your money and spend it however you wish legally. An unverified account does not give your customers much reason to trust you because there is no telling if you are real or fraud. Receiving small or big dollar amount does not make any difference, if paypal finds it suspicious, they have every right to limit your account until you verify.
Aside from some limitations I don't see paypal having problems with unverified accounts as long as you don't send and receive large amounts of cash. It's best to have your account verified. it's easy with a credit or debit card.
well you wont have any problems receiving payments but as soon as you try to send payment it is likely to be limited so better to be prepared and verify yourself rather than loose time and money