Question regarding paypal verification
So I learned that I have to verify my paypal account before I can get money from the sites. What are some disadvantages of this? Will I have to pay extra tax or anything because I am earning money?
There really are no disadvantages to being verified. Without being paypal verified you cannot transfer funds into your bank account, thats the main thing. You do however get small fees for incoming money when you upgrade to a premier account, but thats different than being verified and you do not have to upgrade to premier until you have received more than $500. The fees are not that bad though and some sites do mass payouts which means you get no fee.
If you receive payment from someone who uses a credit card, it will also force you to upgrade your account.
[quote891ab1a209="GiftOrb"]If you receive payment from someone who uses a credit card, it will also force you to upgrade your account.[/quote891ab1a209]
It provides you and others that you do "business" (whether eBay, freebies, etc.) with anti-fraud protection. The TOS gets into specifics but I believe it to be advantageous when dealing with anyone or any business online that you are paying or being paid via PayPal.
Yep get verified, you only have advantages. You should also get a premier or business accounts... Some people complain about the fees but they are not that much.