You can still accept money when you have an unverified account as well as pay for some online service or goods. However it does have some limitations, as I remember the limitation for buying something is just $100.
If you don’t verify your account, you can never get your money.
You can do the same thing with the unverified account just like a verified account. However there is a limit to which you can receive or send money in an unverified account. Other than that both are same in functions.