Paypal payment limits

Moglex

I thought I'd check my paypal spending limit, and discovered that it's nearly used up.

Looking at the stuff on account verification I note that it says that when you're verified, the payment limit is waived " for any payment made by a bank account".

In other words, the payment limit is not waived for CC payments, and you would need to pay via your bank.

This would be:

a) Rather inconvenient, as it would mean leaving enough money in a (not very good interest paying) current account to fund any fleabay activity you may engage in.

b) A nice little earner for fleabay since they no longer have to pay the CC company a fee, but continue to rake it in from the sellers.

So, my question is: Have I interpreted this correctly, or is it just the fleabay people being muppets and not explaining it correctly?

soolin

All my paypal payments are made by a credit card and although I'm verified and have jumped through all the hoops and things I don't seem to have any spending limit regardless of how I fund it.

I was not aware that there was any limit for how much you can spend though paypal using a credit card, but then i find the T and Cs so confusing sometimes I admit I may well have missed it. However, if there is such a limit why not close down the paypal account entirely and then set up a new one with new details?

Soo

Moglex

Log into you pp account and click on "view limits".

You will see a "Spending Limit".

Mine is £500, and I've used £350 of it over a couple of years.

As to shutting down the pp account and starting a new one, I would imagine they are wise to that if, indeed, they do actually intend to limit the amount you can pay in by CC.

However, given the amount of stuff some people buy on ebay I'm rather doubtful that they actually mean what they say, otherwise I'm sure the matter would have come up before.

soolin

I don't seem to have any recorded limits, but I am a verified member as I have received in excess of £4500 over the years and verification is required due to UK money laundering legislation so maybe that is why?

I've had my account for years and have always paid by credit card without ever triggering a limit.

AS for opening a new account you can have more than one as long as you back each with a unique bank account or card and email.

Soo

jenniferpa

I can't find anything in the user agreement about this. Do you have a link?

Moglex

jenniferpa wrote:

I can't find anything in the user agreement about this. Do you have a link?

I don't think posting a link into my pp account would be a terribly good idea.

On my pp account page, I have a link that says: "View Limits".

When I click on it, I get a page which includes this:

---

Sending Limit
Your Sending Limit is the maximum amount of money you can send through PayPal before becoming Verified. We ask users to enrol to increase security for everyone.

Adding a bank account and completing the Verification program enables your sending limit to be waived for any payment made by a bank account. Adding a bank account also allows you to:


Make payments using your bank account.
Send payments instantly through Bank Funding. eCheques can take up to eight days to process. Bank funding allows payments to be received immediately.
With PayPal Buyer Protection, qualified purchases are eligible for up to £500.00 GBP coverage at no additional cost.


Your Sending Limit is: £500.00 GBP


£156.73 GBP Remaining

---

Note the part in bold, paricularly the part underlined.

jenniferpa

No, probably not a good idea! Maybe someone else can help you then. My paypal account is a US one and mine says as follows:

Sending Limit
Your Sending Limit is the maximum amount of money you can send through PayPal before adding and confirming a bank account. We ask users to confirm their bank account to increase security for everyone.

Adding a bank account and completing the Random Deposit process enables your sending limit to be waived. Adding a bank account also allows you to:

Make payments using your bank account.
Send payments instantly through Direct Debit. eChecks can take up to 8 days to process. Direct Debit allows payments to be received immediately.
With PayPal Buyer Protection, qualified purchases are eligible for up to $1,000.00 USD coverage at no additional cost.


Your Sending Limit is: $10,000.00 USD

$8,103.28 USD Remaining


Essentially the same except for those 8 words. I don't see how you could read what you have any differently.

Jennifer

Moglex

jenniferpa wrote:

Essentially the same except for those 8 words. I don't see how you could read what you have any differently.

On the other hand, there are shedloads of people on a couple of sites I use who seem to live and breathe ebay, and I can't believe that they all keep their accounts topped up and don't use credit cards.

If what they say is correct, I can't see myself using ebay for more than a couple of months more.

soolin

I definitely do not have any sending limit mentioned anywhere on my account, so maybe if you verify your account your limit will be removed as well.

Soo

Moglex

I've started the process, but if that doesn't work, I'm definitely not funding pp through my bank account.

Sugar_Coated_Owl

I fund my PayPal account with my bank account. I've no other way of doing it as I don't have a credit card.