According to the PayPal site, action is required to verify business identity. I went through this process a couple of months ago and it was a real pain. Eventually I submitted feedback letting them know their system wasn't working properly. Whilst they never contacted me it appeared they fixed everything and the account was back to normal.
Today the message started to appear again.
The problem is all of the information is entered. The last piece of information required is my name. I entered my name and I get the error message which appears to be more of a software error than a typical error message. Now sometimes when I go to log in or out I get the above Action Required and sometimes I don't. There's no notifications so there's no way to find the section to verify.
Whilst I can't be sure, this looks more like PayPal's system may be playing up. However if you do get this message it may be better to give them a call, if you've entered all the information but still get an error as I did.
I've lost quite a bit of faith in PayPal as a result of this. I've been dealing with them for possibly over a decade and whilst there's been a few annoying issues, this is probably the most annoying. OK. That's probably because I've forgotten how annoying the past issues were at the time. As I've lost confidence that money won't be tied up, I've kept only a minimal amount in PayPal. That's probably a good idea as a general rule.
Kelvin Eldridge
Update: 17 October 2017
Today another email and the Please Verify message appearing on the account. In addition I tried to again enter my name as the director. The following message appears.
A call to PayPal confirmed they indeed had my name and my account was OK. They would forward the issue on to their technical team. This confirmed the issue is with their system.
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