PayPal money trapped 17 May at 3:18PM in Money Saving Polls 4 replies 272 views

BellaRobinson

I created a business account for a small business I am running with a fellow student. After a certain amount of money is transacted you must verify your account. To do that it only gives you an option to verify it with a passport or driving license but we don’t have one for our business name? We also don’t have business stationary to change the name to my passport name. It hasn’t given me an option to remove the money from the account & can’t get through on the phone or an alternative with emails. Our money is stuck in the PayPal because they’ve limited all actions - you also can’t close a limited account !

duncanthedog

Not sure what your question is but the ebay board would be the best place to ask it.
https://forums.moneysavingexpert.com/categories/ebay-auctions-car-boot-jumble-sales

Moneymadmark

Yes, you are in the wrong forum section, hence no better replies other my attempt.

You need to check this, as it is a business Paypal account. However, if you have a personal bank account, then try verifying that account and Paypal should then lift the limit. Alternatively, maybe try and open a business bank account, and the bank should accept your personal id to open the business account. Do check this answer before you get too excited, as I might be wrong.

Neil49

I encountered this issue recently (for a personal account) as I had had a clear out during lock down and had a lot of money go into PayPal over a few weeks. 

If you login to PayPal it may say that you haven't added your passport details but it didn't make any difference when I did. 

There is a specific link for providing further information which isn't immediately obvious. If you go into Help and type in something like account verification you then get taken to a section that, in my case, asked for photo id, proof of address via a utility bill and a tick in a box on another subject. I scanned the first two and downloaded them. I left it overnight and the next day it had been approved and I could withdraw my funds. 

apb123

Its a pain, but it is a legal requirement for money laundering rules. Think of it as enforced saving, your money is safe. Try to verify through a linked personal account.