What does a Verified account status mean?
Verification of identity increases customer trust because it creates a higher level of confidence that a person is who they say they are. When other PayPal users see that you are a Verified User, they know you have taken the steps to provide additional evidence of your identity. This creates confidence and a willingness to do business with you.
Verification provides an additional benefit: it lifts the withdrawal limit allowing you to withdraw more funds from your PayPal balance to your bank account. You can verify your account by completing two out of three steps: linking and confirming your bank account, verifying your credit or debit card information and/or providing your social security number.