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Paypal Question and Needed Advice

Discussion in 'Ebay' started by zxchris, Mar 28, 2011.

  1. zxchris

    zxchris Newbie

    Oct 10, 2008
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    My Paypal account is verified, I believe I have done all 3 things to achieve that status and on top of that I have requested the Debit card they offer. Also, my account is of the Premier type.

    So, my question is, will I encounter my account being limited given the above and below?

    What I will be doing is receiving about $2000 a month (either all at once or over a few transactions) at first and increase as time goes on. This money will not sit in my PP account for more than 1 hour, as I will be withdrawing it A.S.A.P. Even if they do freeze my account, how fast can they do it? Instantly after a payment is deposited, or within 15 minutes?

    Also, I will be offering a 'service', in other words I will have no physical product. How do I set myself up to get my account unfrozen should that ever occur, or if paypal has any questions I can provide them whatever documentation they need? I was planning on using the invoices through paypal and simply putting something to describe the service along with the amount owed.

    Any tips on reducing fees? I know they offer a merchant rate after $3000 a month.

  2. wowhaxor

    wowhaxor Elite Member

    Apr 28, 2007
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    If you have not been putting money through your account and withdraw it all immediately you probably will get limited, this is for them to avoid having to cover chargebacks that may occur.

    If all of your info is legit I would start small and make regular withdrawls while leaving a balance in there. If your chargeback rate is low that after some time you have no worries.

    As for the services thing just create invoices with it as a service as you have said. Services is one of the options.
  3. webmasternate

    webmasternate Newbie

    Aug 5, 2010
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    Yes, they will limit you. PP has very strict practices against money laundering so they freeze accounts and the drop of a hat. Also, you won't be able to withdraw the money as fast as you think. I had a PP debit card and the withdraw limit was $400 or $500 and they would not raise it.

    Your plan can work if you are careful. I suggest that you keep a balance of $400 to $500 in the PP account. If you withdraw to 0, PP will limit you. So keep a balance in the PP account and withdraw $300-$500/day with the debit card.

    Good Luck!