PayPal question

[Branster]

I'm fairly new to ebay and Paypal.
When setting up my payPal account I was given a £500 withdraw limit. This goes down as I keep withdrowing the money I receive on there as the transactions happen.
I have noticed there is a link on there where I could have this limit removed if I go I go through a verification programme. What exactly does this mean? What is this verification? is it like credit scoring? Any ideas?

I've just been verified and they put two small amounts in your bank that you ring your bank to verify so that you can use your debit/credit card to pay. I think that's right? HTH

you can only withdraw a certain amount of money. once you've reached this you can't get any more out.
To verify your address you have to pay $1.95 and they credit your pay pal account with $1.95. The debit on your credit card has a number that you have to enter into your paypal verifying transaction. As JD says this verifies your credit card as you have to have access to statements to use this facility

Thanks a lot guys! Will attempt it in the next couple of weeks.

It can take a while so be careful- unless you do online banking with your credit card you'll have to wait for your statement to get the code. Personally I'd do it sooner rather than later ( I had a few hundred quid in there when I found this out and had to wait to get it out)