1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Paypal Thing

Discussion in 'Business & Tax Advice' started by facebookcpa, Jul 21, 2012.

  1. facebookcpa

    facebookcpa BANNED BANNED

    Joined:
    Mar 3, 2012
    Messages:
    364
    Likes Received:
    98
    Hi guys, I am using a friends paypal (cause mine got limited a good while ago) for paypal transactions, and he just got this message:

    Jul 19, 2012: You have received ?1,800 or more in total payments to your PayPal account in this calendar year and are therefore approaching our annual receiving limit of ?2,500. PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they reach this limit. Please go to the Resolution Centre for more information on what you need to do.

    He sent his personal ID and driver license copy to them, to lift the limit.

    Another thing is, he is going out of country for 2-3 months ... will he get limited if he is accessing the account from another country ?

    Thanks
     
  2. seowulf

    seowulf Junior Member

    Joined:
    Aug 4, 2011
    Messages:
    101
    Likes Received:
    21
    Occupation:
    Self Employed
    Location:
    UK
    Home Page:
    Was the account verified before you received that message?

    If so, then you shouldn't have any problems. If it wasn't, then do it (bank details/phone confirmation and all that).
     
  3. theAngle

    theAngle Junior Member

    Joined:
    May 19, 2012
    Messages:
    118
    Likes Received:
    53
    Occupation:
    Web Developer
    Since Paypal got fragmented to abide to the countries' laws, the only way to be sure about it is to read carefully about its terms on his account, even if such a thing is not listed there, then he should contact the local branch(sending an email) to get this info.
     
  4. facebookcpa

    facebookcpa BANNED BANNED

    Joined:
    Mar 3, 2012
    Messages:
    364
    Likes Received:
    98
    Well, his account is verified, meaning that he is using his credit card and stuff like that, but they never asked him for a photo ID before, he just made the account and verified it with his credit card (everything legal, no VCC and stuff like that).

    It doesn't seem to be the limitation I know, I just went into his computer via TV and I could withdraw $300, so the only restriction is to close the account.

    The thing, with withdrawing from other country, I told him to come to my computer via TV, and withdraw from an IP from my country so that we won't have any problems.

    What you think ?
     
  5. blackhorse1

    blackhorse1 Newbie

    Joined:
    May 31, 2012
    Messages:
    35
    Likes Received:
    4
    Better do it from the same country ip but if you tell them before hand that you will cash out from a different country you will not have problem.
    The thing i wanna ask you is , does that mean that any european account with profits of more than 2500euro per year will get reported to the european union?
    Does paypal actually does that and will they know in our country our exact paypal profits?
     
  6. techcrunked

    techcrunked Regular Member

    Joined:
    Aug 12, 2011
    Messages:
    361
    Likes Received:
    112
    yeah i think i will be facing a similar situation soon. any advice from any paypal veterans here?