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How to lift $500 paypal limit

Discussion in 'Ebay' started by dave61, Apr 2, 2015.

  1. dave61

    dave61 Newbie

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    Hey all, I have connected my bank account to my stealth paypal. Now its limiting me to withdrawing $500 per month. I can lift this using a credit card. Any suggestions on how to do this without getting linked to old paypal?
    Thanks,
    Dave
     
  2. toml3030

    toml3030 Elite Member

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    attach a completely new credit card and a bank account to it and the limits should be lifted automatically
     
  3. jmt123

    jmt123 Regular Member

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    A Visa or Mastercard gift card works well for lifting the withdrawal limit. They tend to have 5+ year expiration dates too, so you won't have to worry about adding a new card for a very long time.
     
  4. workahollic2

    workahollic2 Regular Member

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    What you need is to add any 2 of the below options;
    *Add a credit card
    *Add a bank account
    *Add SSN

    You only need to confirm any 2 of the 3 options.

    I can help provide vcc and vba to lift limit.
     
    Last edited: Apr 3, 2015
  5. Ertu15

    Ertu15 Newbie

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    how do you check what your limit is on paypal?
     
  6. AuctionEssistance

    AuctionEssistance Junior Member

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    You can check your limits when you go to withdraw area. It will tell you how much is left that you can withdraw.
     
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  7. jmt123

    jmt123 Regular Member

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    When you go to withdraw, it will specifically tell you how much more you can transfer for the month.

    It's pretty simple though; either you have a $500 withdrawal limit, or you don't - there's no in between. If you added + confirmed a card and added + verified a bank then the withdrawal limit is gone. However that doesn't mean that you can simply withdraw whatever you want. The system may allow it, but you can very easily be limited for withdrawing too much, especially if the account is new or if it's unusually large for your account.
     
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  8. SEOking222

    SEOking222 Jr. VIP Jr. VIP

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    I AGREE WITH TOMl3030
     
  9. Ertu15

    Ertu15 Newbie

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    isnt the limit like 10k or something?
     
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  10. SEOking222

    SEOking222 Jr. VIP Jr. VIP

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  11. jmt123

    jmt123 Regular Member

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    Are you talking about 10k total as in yearly withdrawal limits, or 10k at once?

    10k yearly/total is no big deal. There's really no limit as to how much you can withdraw in a year or within the lifetime of the account. What's more important is to be consistent and to always leave a little of your money (around 10-15%) in your account at any given time. For example if you normally withdraw $50 every day for a few months and then one day you suddenly withdraw $1000 then chances are you'll have issues because Paypal would either think you're trying to take all your money out and run, or they may think the account was hacked.

    But if you're talking about a 10k withdrawal all at once then yeah you're going to have problems (and just getting that much into a Paypal account at once is no small feat).

    Also keep in mind that the $500 withdrawal limit for unverified accounts is completely different from the IRS's 200/$20,000 yearly limit before payment processors are required by law to collect tax ID information.
     
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  12. Ertu15

    Ertu15 Newbie

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    Why would paypal care if we took all our money lol.
     
  13. Ertu15

    Ertu15 Newbie

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    So if someone new to Paypal makes a 10k sale on a domain name they should add it to their bank account not paypal?
     
  14. toml3030

    toml3030 Elite Member

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    Because you too would complain and moan if bought something and the seller took off with the money.
     
  15. jmt123

    jmt123 Regular Member

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    If you withdraw all of your money (especially if it's a large amount), it makes it seem like you're running with the money and won't deliver whatever goods/items you sold. This is doubly true like in my example - you always withdraw $50 but suddenly take out a thousand. Although it doesn't necessarily mean that you're trying to take people's money and rip them off, keep in mind that this is Paypal we're talking about. They will shoot first at whatever suspicious activity, and ask questions later. Also, disputes happen for various reasons and Paypal likes to see money in your account to know that they can have something to take in situations like that. You can definitely be limited for withdrawing too much, especially on newer accounts.

    That would be a rare situation. It would never happen on eBay because a new account would not survive listing an item that expensive. I could only see it happening if someone sold the domain on another site and used Paypal as a way to get paid (horrible idea if the account is new).

    Anyone who has a new account and expects to survive a $10,000 payment is going to be in for a horrible surprise. I can all but guarantee a new account that receives a 10k payment would be instantly limited, and asked for proof of SSN, proof of address, and every other possible document. And if by some miracle the account wasn't limited immediately, as soon as you try to withdraw it, you'll run into problems if you tried withdraw too much (10k withdrawal on a new account is also something I can see being an instant limitation). Paypal would want to protect themselves and they definitely wouldn't want to take a 10k hit if things went south, so they would want the person to keep large amount of that in their account for a while.

    Simple solution is to just not use a new Paypal account for large transactions (and honestly I would be weary about used Paypal period for that big of a transaction whether the account is new or 10 years old). There are better ways to do so and yes bank transfer is one way.
     
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  16. Ertu15

    Ertu15 Newbie

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    Thanks lol. i m actually in the process of selling a name for 7-10k and was gonna transfer it to paypal even tho my paypal is 100% verified. now i know and i will do bank transfer.