PayPal Policy Update: Personal Account Limits***

Snowball

PayPal Policy Update: Personal Account Limits***
Date: 10/04/04 Time: 11:03:07 AM PDT



In February PayPal introduced monthly limits for payments received from eBay or website sales to Personal Accounts. Based on analysis and community input, effective November 4, 2004 the amount of money that a Personal Account will be able to receive will be reduced from $1,000.00 to $500.00 USD per month.

As before, 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, 2004, 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, 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 helps 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

CON40

This sucks. It is the next step in the government's desire to eventually track and tax all online sales and income. Eventually, we will not be allowed to have any income per month without having a "business" (ergo: taxable) account. Slowly, each Paypal member is being put into a category according to the amount of income they generate each month online. This is not good news for anyone.

I know that from now on, I will start to "suggest" from buyers that I receove payment in the form of a money order or check. The convenience of Paypal is alowly being usurped by the ability to have agencies track your internet activities.

I have been predicting this on these boards for months... eventually (sooner than later) it will come true.

funlover1974

Just another reason for sellers to dump Paypal.

Snowball

What is a quasi-cash?

Does it count towards your limit?


Anybody got paid using this?

DirtyHarry

This is BS. I signed up for a premier account, thinking that it may fascilitate higher closing amounts if you give more options for payment. Anyway, over the course of about six months of selling and buying on Ebay...I had a paypal balance of about $1500. I sold off a lot of unwanted/duplicate cards and some other collectible junkola....and bought, via paypal, the shipping supplies, a postage scale, a few cards I wanted, AND a good chunk of my kids' textbooks, the fancy calculators they need for school and a laptop for my high schooler.

So, after all that, I decide to transfer $1200 of my surplus into my checking account. I had to provide Paypal with my SS# because the amount was in excess of $1k !!

Con - you are right. Big Brother is watching.

EagleEyeKid

That really blows. PAYPAL SUCKS!!!!! I hate them even more now. I guess starting Nov., I'll just have to go back to accepting Money orders only like I did when I first started Ebay 6 years ago. I would never sign up for their premier or business acct. All that % taken out per month adds up to one hideous amount that can be used for stupid Ebay fees.