Hey so I did have this same issue. And since nobody else replied Imma put my experience.
The normal wait time for verification to be able to accept the terms and conditions is 48 hours. But if you're looking to get into the account to get onto iTunes or Apple Music App on PC and need to get in now then there's a different process to go through.
The way an android user can get around it is by going to your nearest Apple Store or an AASP (Apple Authorized Service Provider) and ask about using a loaner device where they'll let you use an iPhone or Mac to be able to sign in and accept the terms and conditions.
But if you're an Macbook or iPhone user at home then you can do the same but at home.
An issue I came into was I had signed up to Apple TV+ and already put my payment info in. If you get the "there was an error verifying your payment method" Then go back to Apple TV and sign in and go to your settings in the top right and go to Manage Payments and then click on (verify) and put in the CVV back in, hit save and then go back to the process and refresh the page, once you do that you can go back and should have no issue verifying the payment method.
I'm putting all this on here so that the next person does not have to spend hours trying to figure out what's going on or have to reach the verification limit and wait an hour to try again.
Hope this helps the next person with this issue!