Underage Paypal opinions!

[matty521521]

Hey BHW!

Im trying to do my Paypal right now but im only 17 :/. I don't turn 18 for another year and Im sort of worried and I need peoples opinions...

[h=2]Account Limitations and Verification[/h]

• [h=4]Withdrawal limits[/h]

For security reasons, $500 is the most you can withdraw from your PayPal account each month. If you want to withdraw more than $500 per month, just verify your bank account, debit card, or credit card information.



I can't verify with the bank because Im under 18 and I most likely won't be planning on withdrawing that (Im in no rush to withdraw money)


1) I'm just worrying that when I buy wholesale of my product (spend around $250) and when I sell it and I'm wondering if Paypal will randomly put a limit on me resulting in frozen funds.

2) If I make an account with my name and everything and Next year when I'm 18, and I want to make a "legit verified" Paypal. Do I just need to call them to terminate my account and create a new one something else im wondering about...

Im just not really wanting any unexpected surprises randomly popping up and I won't be able to touch my money for a while.

Opinions? Ill be on this thread for a while because I have Paypal in my other tab and im just debating on what I should do!

Thanks!~

 

[Furious George]

You can't ever terminate a paypal account. You can't delete one... it's just not possible.

My advice:

Say you're 18.

Open a bank account. Use your parents/guardian as a cosigner. Verify the bank account, add the debit card attached to the bank account, and you have your sending/withdrawl limits lifted.

There is nothing wrong with giving paypal false information because they're not a bank. Maybe you open the paypal account under a business, and not a consumer account? You want to be 1000% legit? Register a business at your local courthouse for 15 bucks.

I have lot of expertise in this arena. If you need more help, please let me know.

 

[matty521521]

All input is appreciated

 

[matty521521]

Anyone else know what I should do?

 

[Aaric]

you can have a limited transaction bank account . contact your bank, they can open one for you with your school id card. with max money limit on it,

 

[matty521521]

I'm wanting to buy and sell though, sort of a flipping business

 

[Wilson Grant Fisk]

Can't you get a family member to sign up then use their account until next year ?

 

[matty521521]

My parents said they want nothing to do with my online marketing (they think it's a waste of time). I just would really like to prove them wrong with a Check from my PPD and side earnings on my paypal :/

 

[Furious George]

Anyone else know what I should do?

No offense young man, but I already told you what to do!

You're going to run out of friends and family members. It's perfectly legal to give paypal a faake birthday because they're not a bank. Don't you date give a bank a faake birthday, but you need to just do what I'm saying. A bank will let you open an account with them if you're a minor, you just sometimes need a cosigner.

 

[matty521521]

^ I already have my bank account and it says im under 18. And even if you are under 18 you need a guardian to sign for your bank account, a cosigner doesn't mean anything. It doesn't give me rights to apply to Paypal and say that my cosigners are over 18 and that im aloud to have a legit Paypal. That doesn't really help me,

Thanks for opinion though!

 

[mikeydell]

FuriousGeorge was spot on 100% on the advice he gave you. If your not going to listen it's hard for anyone to help. It sounds like your going to just keep asking until someone tells you what you want to hear.....even if it's wrong.

 

[2011nfl]

Hey BHW!

Im trying to do my Paypal right now but im only 17 :/. I don't turn 18 for another year and Im sort of worried and I need peoples opinions...

You need to wait til you are 18. Laws can be very strict, and you could get paypal in some serious trouble. Yea, there is a such thing as statutory, but to be on the safe side, just wait that little extra time. It doesn't hurt........ Jeez you kids move way too fast now days

 

[bigcasey123]

I'm also 17 and i had my paypal for around 2 - 3 years. Actually i had to make 2 because one asked for my tax id (i just deleted it and made a new one with a new email).

My parents said they want nothing to do with my online marketing (they think it's a waste of time). I just would really like to prove them wrong with a Check from my PPD and side earnings on my paypal :/

my parents said that to but then a hundred dollar check came in from pp and my farther took it (said i'm to young to make money lol) and payed his phone bill with it......

You need to wait til you are 18. Laws can be very strict, and you could get paypal in some serious trouble. Yea, there is a such thing as statutory, but to be on the safe side, just wait that little extra time. It doesn't hurt........ Jeez you kids move way too fast now days

Kids need to start making money so they have something to fall back on. My parents are doing so bad that they can barley even pay the rent every month. I know that if i start making money now then i'll have like 30k saved up and i can help my parents out and still rent a house myself.

 

[matty521521]

Alright sweet thanks guys!

 

[HoNeYBiRD]

You can't ever terminate a paypal account. You can't delete one... it's just not possible.

well, that's wrong , you can close your paypal account anytime:

https://www.paypal.com/ca/webapps/helpcenter/article/?solutionId=11935&topicID=11400028&m=TKB

however it's not always a good idea or worth the "hassle", because if you close it for any reason and you open another one with the same name and address, it can be traced back to you
so maybe in this case it's not a good idea if OP already gave them his personal data
but why should he close it when it's not limited at this point in the first place?

1) I'm just worrying that when I buy wholesale of my product (spend around $250) and when I sell it and I'm wondering if Paypal will randomly put a limit on me resulting in frozen funds.

it's a wise thing to ask before doing it
yea more than likely you'll be limited with an unverified account, so i wouldn't do that if i were you

other than that you can try what George suggested above
or
you can always buy a ready-made verified account with all the docs in case of later verification, but this won't be cheap and you can also buy a VCC to lift the withdrawing limit (it wouldn't make any sense w/o verifying your acc first)
or
you can hire a talented photoshop junkie to draw some really nice docs of you and use those in the verification process
or
wait until legal age

 

[PandaDomo]

Just use a foreign PayPal account, it's what I did for about 6 months

However, if you need to be able to withdraw to your bank, then you'll probably need a VBA as well I believe.