Are Paypal allowed to ask for my Bank statement and passport to unlimit my account activity?

Answer 1

They will NOT ask for a passport. The reason they ask for a bank account NUMBER (not statement) is to upgrade your PAYPAL account to verified status. Same reason they ask for a mailing address. The reason is that if you want to pay using PAYPAL and you don't have enough of a balance in your actual PAYPAL account, you can still make purchases and pay via PAYPAL because they charge the balance directly to your VERIFIED checking account or credit or debit card on file. In addition, PAYPAL now offers a Money Market "sweep" feature--this means that when you sign up and keep balances in your PAYPAL account, you actually earn DIVIDENDS (not exactly the same as interest) at an annual rate which is currently 5.23 %--and it varies. This is the highest it has been since I started using this feature over a year ago--it used to be just above 5 %--like 5.03 or 5.04. They credit the dividends earned to your PAYPAL account on the last day of a month or first business day of the following month, and then the credited dividends also earn future dividends. There is NO FEE to sign up for the Money Market account feature, but there is also NO INSURANCE on the money market funds.

Answer 2

I use paypal but i use a credit card. they wanted my bank acc. no. never anything about a passport.i woulden`t give them my bank acc. no.