PayPal is the most secure and safe online banking platform in the world. In Australia alone there are about 7 million PayPal users. To ensure PayPal remains a safe place to transact, and to comply with Australian Anti-Money Laundering and Counter-Terrorism Financing laws, PayPal collects certain information to confirm your identity. In many cases Paypal ask users to submit supporting documentation to verify the information that they have provided.
Until Paypal are able to verify your identity, Australian Anti-Money Laundering and Counter-Terrorism Financing laws do not permit Paypal to conduct certain transactions on your behalf. That’s the reason PayPal want your identity.
This is done by Paypal electronically. But sometimes customers’ identities are unable to be verified electronically. In such cases Paypal will perform one or more alternative verification processes which may require you to provide additional documentation to them. You will be prompted with an alert in your account profile to fulfill this request.
PayPal may require all or a combination of the following documents:
The document must show your full name and date of birth, and these must match the information you provided when opening your PayPal account.
If the document is not in English, it must be accompanied by an English translation prepared by an accredited translator.
Also if you’ve recently changed your name and the information on your identity document doesn’t match the information on your account, you may have to provide additional documentation to show the name has changed.
You can upload your documents to your account through the PayPal website quickly and easily in their Resolution Centre, or fax them also.
The document must show your full name and residential address, and these must match the information entered in your PayPal account.
Note that paypal can only verify physical addresses, not P.O. Box addresses.
PayPal will make every attempt to review the documents you’ve provided within 2 business days, but in some cases it may take longer.
If you do not complete the identity confirmation process, some functionality on your PayPal account could be limited, and you may be prevented from sending or receiving payments.
Also your each Paypal account must undergo its own verification. Once you have completed these steps and provided any additional information that paypal have requested, paypal will review your account and send you an email with the outcome.