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PayPal Business Account Limit!!

Discussion in 'BlackHat Lounge' started by CashGrower007, Jan 10, 2011.

  1. CashGrower007

    CashGrower007 Regular Member

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    I just received an email saying I had reached some sort of a limit (£1,900)...

    Now, they want to verify that I'm a real business but I'm not.

    What do I do?

    I can't use a personal account..
     
  2. kusai

    kusai Regular Member

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    you are pretty much screwed up here. Either you provide all the documents and lift the limit, or you simple get a new account or just call them and ask them to degrade it to verified personal account.
     
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  3. CashGrower007

    CashGrower007 Regular Member

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    So, I have to open business to keep using their business account?

    I can't use a personal account since it's limited.

    What do all the big earners do?? They all have legit businesses setup?
     
  4. RedWolf

    RedWolf BANNED BANNED

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    what document they are asking ?
     
  5. LukaB

    LukaB Jr. VIP Jr. VIP Premium Member

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    Quickly buy an old domain, that sounds like a business, or like a service provider (not local! but internet service provider) and then call them bout your limit and tlel them internet services dont have papers....... and u r done.
     
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  6. RMX

    RMX Power Member

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    If I were you, I'd go and start a business, so it actually exists, but only on paper. Register as a self-employed person, go to your bank and open an account in business name. That will get you all the documents you need. If you're self-employed in the UK, you will be liable to pay national insurance contributions, which are pretty low (around 3 GBP per week). Just close the business a month or two later, if you don't want to keep paying the NICs. That way you'll have all the documents and still - no business. Also, PayPal very rarely recognizes forged documents, so if you're good at PhotoShop - have a shot.
     
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  7. CashGrower007

    CashGrower007 Regular Member

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    They're asking for business document, since I'm registered for a PayPal business account.

    I already have a site that provides social media services etc.. and they know where my payments are coming from.

    Even if I get through paypal, wont I have problems with my bank? and won't HMRC know?

    Anyway, if I were to open a business.. how will work? and How much tax do I pay?

    Thanks
     
  8. shaks99

    shaks99 Jr. VIP Jr. VIP Premium Member

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    £1900...take it this is a UK account right

    Paypal will ask for company registration documents/or a business id from company house
    which are not easy to get around.

    You gonna need to start a business. Can set one up online for about £30 (again if UK) and takes bout an hr. You get company details emailed to you within hours and officially documents through post in a couple a days which you will need to supply to the bank to open an account with them

    some of the places you can sign up a company through actual include sorting out a bank account for your company.
     
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  9. CashGrower007

    CashGrower007 Regular Member

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  10. RMX

    RMX Power Member

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    I did start a business when PayPal asked for documents. Just opened a bank as self-employed person, paid a couple of NI contributions and then closed the account/business stating that it didn't go well. The documents you'll get from your bank as well as your NIC payment receipts are enough for PayPal.
     
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  11. dra$tic

    dra$tic BANNED BANNED

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    i dont think i had to pay anything to start up my sole prop. biz, just call the irs they wiLl mail u ur ein#
     
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  12. LukaB

    LukaB Jr. VIP Jr. VIP Premium Member

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    My Paypal is UK account, and a business account.

    Why is there even a 1.9k limit? Don't you get to remove it when you verify your account with a Credit Card? I have no limit at all.

    Call them, tell them that your site is an online service, they don't know that since your account was automatically LIMITED (not by them, but by the system they made).

    This should solve the problem.
     
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  13. CashGrower007

    CashGrower007 Regular Member

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    Cool.. but how do you get away with it from the government? How do you explain where the money comes from once the find out?
     
  14. CashGrower007

    CashGrower007 Regular Member

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    Oh, I'll see if that's the case. I'll send them an email.

    Don't online e-commerce sites have to be registered?
     
  15. cyberroot

    cyberroot BANNED BANNED

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    well i dont think business accounts having any limit best option would be call them straight away business accounts holders having special support numbers u can find them in Contact pages ! calling is the best options to get things going !
     
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  16. LukaB

    LukaB Jr. VIP Jr. VIP Premium Member

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    Cashgrower, no e-commerce sites don't have to be registered with papers.
     
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  17. william199

    william199 Newbie

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    Lol, My paypal is business but I don't need to send them anything? Just add Credit Card to verify. Not sure what's wrong in UK.
     
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  18. Dellius

    Dellius Junior Member

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    Probably it's one of those "hidden" limits which trigger the automated limiting system and prompt you for papers.

    Since you are in the UK, do what the guys above have suggested. Either go with the "online service" option or just register a dummy business and then close it.
     
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  19. CashGrower007

    CashGrower007 Regular Member

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    So, what happens when the tax guys see your bank balance?

    How do you explain your income?

    Just say you earn 10k a month online.. don't you have to pay taxes?
     
  20. CashGrower007

    CashGrower007 Regular Member

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    This is what PayPal says:

    We recently reviewed your account, and we need more information about your business to allow us to provide uninterrupted service. We would like to return your account to regular standing as soon as possible. We apologise for the inconvenience.

    PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than £1,900 in total payments within a calendar year. Please go to the Resolution Centre for more information on what you need to do.