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Verified Premier PayPal Account - Withdraw Limit?

Discussion in 'Business & Tax Advice' started by flexcarrera, May 2, 2012.

  1. flexcarrera

    flexcarrera Newbie

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    Good evening folks,

    I'll be receiving approximately $3500 to my PayPal very shortly, I'm based in the UK so this will need to be converted at some stage. I'm looking to withdraw it to my bank account today as well, however after reading through some horror stories in regards to withdrawals, further verification and general problems, it's worrying me slightly.

    I've been a verified member for approximately 5 years, I have both my bank account and credit card attached to the account.

    I'm struggling to find any valid direction in my account as to my current withdrawal limits, if any.

    Do any of you have any experience withdrawing this amount of money?

    Many thanks
     
  2. audioguy

    audioguy Power Member

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    Location:
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    Don't withdraw too soon.

    Basically they just want to make sure there's no one reversing the transaction and leaving them in cold.

    Wait for a while. Then withdraw your money. Shouldn't be a problem.
     
  3. flexcarrera

    flexcarrera Newbie

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    Thanks for your response audioguy.

    If you was in my position, how long would you wait?
     
  4. antsaoo

    antsaoo Supreme Member

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    If you have verified with your IDand address you should not have any limitations. Otherwise it should have link to limits on your account main page.
     
  5. brainstorm1

    brainstorm1 Jr. VIP Jr. VIP Premium Member

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    Do it in increments and wait a week or so.

    You shouldn't have any problems if your account is 5 years, connected with a bank, and credit card. When you withdraw you will be shown your limits (if any).
     
  6. volund

    volund Senior Member

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    While account age is important one thing Paypal really looks at is sudden changes to account activity. Even if your account is 5 years old there is a good chance that you can trip a fraud trigger if you do not usually have much money go through your account. I do not know for sure but I would not be surprised if they look at the account the money came from as well.

    I have to agree with brainstorm, let it sit for at least a few days or a week and take it out in increments like $500 at a pop a few days to a week apart. Seems less likely to trip any automated triggers.
     
  7. SSL9000J

    SSL9000J Regular Member

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    I'd have to disagree with the other posters. The limit on a Paypal debit card is $3000 USD per day, not sure about bank transfers. Try to move that money into your bank account as quickly as possible. Because if they take notice of the sudden increase of activity and freeze the account, any money in it could be tied up for months. They'll probably ask for things like a business license and information about the transaction in the meantime. Good luck!
     
    • Thanks Thanks x 1
  8. calebmann

    calebmann Power Member Premium Member

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    Mine just got completely screwed over..

    just take 1000 per week out, you have to leave money in because they expect you to be able to refund.

    If they limit you, you will have to provide

    proof of address
    proof of SSC

    and sometimes more..
     
  9. oxonbeef

    oxonbeef BANNED BANNED

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    It all depends on your account history.
    I have no problem having $5000 deposited one minute
    and withdrawing it to my bank the next.
    I've been $1000 overdrawn at paypal before but always
    settled the ballance. I think they look at history too.
     
  10. sapo

    sapo Power Member

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    do it slowly why risk it.
     
  11. krayzietalent

    krayzietalent Junior Member

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    You'll have no problems man. If ANYTHING happens just ring them up and they'll help you out. I had two accounts limited the other day (I have 3 accounts in all, 2 business, 1 premier), I called them up and they restored the account.

    Honestly, PayPal isn't that difficult to work with when you're doing things white-hat (read: playing by the rules).
     
  12. redclover

    redclover BANNED BANNED

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    Since it is a legitimate account and your information is attached to it
    I do not see any problems.

    RedClover