Lifting limits Paypal.. help please?

Leanne200

Everytime I log in to Paypal I get the message:

In the past 12 months, you have received a large amount of money into your PayPal account. This is a courtesy reminder:
An annual receiving limit of £1,700.00 GBP is in place to allow us to comply with Anti-Money Laundering regulations.
If you do reach the annual receiving limit of £1,700.00 GBP you will no longer be able to withdraw or send money, fund transactions or close your account until you complete certain steps to lift your limit.

I have looked at my limits, I have about £480 left to go and it says reset date is 27th Oct 2009. I don't think I have made that much money through in the year but if they seem to I must have!

What I am wondering is if anyone knows by lifting my limits as it asks me to do so will turn my account into a business account? Because thats not what I am/want and when I go to do it it asks alot of questions about your business ect too?

Thanks

soolin

Just follow the instructions for lifting the limits that paypal outline, it can take a week or so and is best not left until the lats minute. It also doesn't mean you will have a business account.

Leanne200

Thanks Soolin, that puts my mind at rest! But when you say it can take a week or so, how do you mean? I'm sure the first time I saw the message it said something about someone calling me.. I am going on holiday for 2 weeks on 3rd August so will there be anything else I need to with it or do I just leave them to sort it out once I have done my bit?

Also I don't expect to sell as much to go over the limit before the reset date, but would it be advisable to just lift them anyway and get the extra limits?

cyberbob

Leanne200 wrote: »

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Also I don't expect to sell as much to go over the limit before the reset date, but would it be advisable to just lift them anyway and get the extra limits?

I would lift your limits now its safer. If you go over them they will freeze your account and it can be a bit of a nightmare unfreeing them

NBirdy

They call you to confirm your home address - they tell you a code and you type that into a page on your account. It's a matter of clicking a button to activate and they call you immediately, so you can do it whenever suits you. Mine 'failed' for some reason so they sent the code in a letter instead, which took almost 3 weeks to arrive, so you might want to start it sooner rather than later, just in case.

Leanne200

Thanks everyone, I am just going to go ahead and do it then ... :beer:
Just needed the confidence I was doing the right thing really! Thanks again!

Char1986

I've got the same problem at the moment with the same amount. I completed my form on paypal about a week and a 1/2 ago and it actually says complete in the resolution centre but still has the same message when i sign in. So what i'm wondering is if i make it up to £1,700 mark will they hold my money even though i've completed the form?

cyberbob

Char1986 wrote: »

. So what i'm wondering is if i make it up to £1,700 mark will they hold my money even though i've completed the form?

If they have not cleared it yes. You need to contact them to hassle them up otherwise they will take an age.

jojo1964

Posting this here, rather than starting a new thresd, i have sold a few items on e-bay recently and the last payment from paypal to say the payment was received said i had to upgrade to have the funds paid into my account, the amount received is only just over £300 and seems a bit low to have to upgrade, and if i do have to do so, what are the fees involved?

Widelats

This happened to me too, they left it like that for nearly a year because i could not provide a credit card - i advise not to go ahead unless you have a home phone, credit card and all the rest as they are useless on communication, i told them over 20 times i do not have a credit card and still they replied saying "we need your credit card details" i had to complain to the complaints dept to sort it out.

jojo1964

Cant understand it as, having looked at the limits, i am nowhere near them.