PayPal Policy Update: Personal Account Limits....

habs71

<< <i> ***PayPal Policy Update: Personal Account Limits***

Date: 01/12/04 Time: 10:34:55 AM PST


PayPal is introducing a new policy around the use of PayPal Personal Accounts. Effective February 12, 2004 the amount of money that a Personal Account will be able to receive will be limited to $1,000.00 USD per month. Therefore, only payments received from eBay or website sales will count towards the receiving limit.

Receiving limits will be reset each month on the anniversary of the date that the PayPal account was opened. For example, if you signed up for your PayPal account on August 15, 2002, your receiving limit will be reset on the 15th of each month thereafter. If you receive a payment once the limit has been reached, you will be given the opportunity to accept the payment and upgrade to a Premier Account, or to deny the payment.

This limit applies only to the amount of money you can receive. It does not impact the amount of money you can send. To check your receiving limit after February 12, 2004, log in to your PayPal account and click on the View Limits link on the account overview page.

Get the most out of your PayPal account:

Use your Personal Account for personal matters – Your Personal Account is perfect for sending money to friends and relatives, splitting a restaurant tab, and purchasing items wherever PayPal is accepted.

If you sell online, you should use a Business or Premier Account – Business and Premier Accounts enable you to accept credit card payments and receive Seller Protection on qualifying transactions. Eligible Premier and Business Account sellers are also able to offer PayPal Buyer Protection on their eBay listings. Having the PayPal Buyer Protection shield on your listings will enable you to attract more buyers.

To learn more about this policy update or the accounts and services available from PayPal, please visit www.paypal.com.

Regards,
eBay >>





Skip

bowlking

I see the Ebay execs are making thier presence known. Slowly, but surely, jacking up the fees or short changing the service.

habs71

This way, if you receive over $1000.00 per month, you have to have the Premiere/Business account, and it's no longer free to receive your money.

From PayPal....



<< <i>Receive Funds...... Free....... 2.2% + $0.30 USD to 2.9% + $0.30 USD >>

mmoin

This may actually have one positive result- no more listings with "paypal accepted but only from your balance or a bank account" in the payment instructions, since as a business/premier user you pay the same surcharge no matter what the payment method.

Vargha

The giant anaconda known as eBay once again begins the constriction process.

(Typo)

packCollector

If you sell online, you should use a Business or Premier Account – Business and Premier Accounts enable you to accept credit card payments and receive Seller Protection on qualifying transactions. Eligible Premier and Business Account sellers are also able to offer PayPal Buyer Protection on their eBay listings. Having the PayPal Buyer Protection shield on your listings will enable you to attract more buyers.

what a joke? it should read " if you sell online, you should use a Business or Premier Account so that we can collect 2.9% of your hard work for doing nothing

paypal has virtually 0 expense for payments sent from a balance or checking account so that want the 2.9%. on cc card transactions, they need to pay the credit cards their percentage so paypal doesn't make as much. this is why they want all payments to be charged the 2.9% .

Howitallbegan

On January 9th or 10th Paypal also quietly gave themselves permission to scoop money without authorization from your checking accounts for incidents of charge backs from CC companies etc

doncherry

howitallbegan

thanks for he tip . I just found this from the paypal message board

User Agreement Update

Notice Date: January 8, 2004
Effective Date: January 8, 2004
Updated main User Agreement and Payments Policy to remove provision which permitted debiting of bank accounts to recover money owed to PayPal.


PayPal will seek to recover the funds from you by debiting your PayPal balance and, if there are not sufficient funds in your PayPal balance, PayPal reserves the right to collect your debt to PayPal by any other legal means.

Treetop

On January 9th or 10th Paypal also quietly gave themselves permission to scoop money without authorization from your checking accounts for incidents of charge backs from CC companies etc

Last year I set up a separate banking account (that I keep nothing more than $20.00 in) for paypal, with no over draft prodection or ties to other personal accounts. I hope some day people realize that paypal may be conveninent, but its has to much power over your $$$$.

Maybe its me, but I have noticed less people paying for auctions with Paypal. its a small percentage, but once (an if) paypal payments come in at less than 50 percent of total payments, I might consider dropping paypal all together.

On a positive note, I won a case with paypal using there buyer protection program. its not 100 percent final, just have to mail the cards back (tomorrow) and provide a tracking number and paypal is to give me back $500.00 plus for a set of cards I bought having been advertised as NRMT, but most cards had small tears in them along the right side of the card. I had to get the set of cards appraised by a dealer and its taken 6-7 weeks, but according to paypal yesterday, once the above (mailed back) is completed, I'm to receive my money back.

Regards to all,
Mark

Treetop

Double Post (removed)

RobBobGolf

Treetop, you were smart setting up that other account. When I decided to open a PayPal account a few years ago, I actually went to my bank and opened a checking account just for that reason. I always have control over my exposure to loss via PayPals long arm. On a similiar note, why would anyone have a PayPal credit card? Think about what abuse could end up on your bill.

RobBob