Before you can receive funds you have raised, you need to make sure your PayPal account is verified. PayPal have a simple step-by-step process to follow.
Spacehive users can accept pledges through PayPal, however in order to receive the funds from a successful campaign, this account must be verified.
How to verify your PayPal account
To start the verification process log in to PayPal and click the ‘Add bank account’ option in the dashboard. PayPal will then make a deposit of £0.01 into the designated bank account with a 4 digit confirmation code in the reference. Check the bank statement online for the transaction, enter this code when prompted in the same ‘Add bank account’ section, and the account should be enabled to accept payments.
For a business account the email address on the account may also need to be verified. To do this log in to the profile section of PayPal where there should be an email address on the right hand side. Click update email and enter an address, then check your inbox for a verification email from PayPal.
Once this is complete and the bank account has been verified, your account should be ready to accept payments.