? about upgrading your Paypal account

joelwalter

I've recently been given the opportunity to buy a nice collection of cards for roughly 5,000.00

But I would have to sell a decent portion of them in order to pay off my Credit card and other household bills.

Right now I have a Paypal account that let's me withdraw only 500.00 per month. How do I go about upgrading my account to be able to withdraw more money?? And what are the good and bad of doing this? Will I be charged more?

bri2327

You can lift the $500 limit of withdrawing funds by authenticating your indentity. I think they give you 3 options of how to do this, one is adding and confirming a bank account and another is social security #.

From your paypal click on my account, then click on view limits line next to your balance info. Click on lift this limit and follow the steps.

You are not charged more for doing this to the best of my knowledge.

storm888

Go to their website and follow the directions to upgrade.
You will have to "prove" your identity.

After upgrading, you will be charged a small fee everytime
you receive money. You will also be able to accept credit
cards, if you wish to. There will still be no fees if you send $
or withdraw $ from the account. There is a fee for ATM card
use, but no fee for moving money to your other accounts.

No downside. Good account to have.

storm

joelwalter

There isn't a 'view limits' next to my account. I recall there being one at one time but there isn't one now

earlycalguy

do you have a personal paypal account? personal accounts have a $500 receiving limit per month and you can't accept debit or credit cards on the personal account. if that is what you have you just have to upgrade your personal account to a business or premier paypal account.

I keep a personal account for accepting fee free transactions and then have a business paypal account that I use for other payments received.

having multiple paypal accounts also comes in handy when paypal issues the discount coupons.