Paypal account receiving limit

GTO656

GTO656

GTO656

Soldato
Joined
29 Aug 2011
Posts
3,068
Location
UK
Hey guys,

Basically I won quite abit of money from bookies yesterday, and after they sent the money to my personal paypal. Paypal put account limitation because of the money laundering law. After phoning them up I told the guy that I tried submitting my personal information on the website but gave technical error.

The guy said I can do it from smartphone by taking clear picture of photo ID,driving license and utility bill and said it will take up to 2 days to review it. Although I can't find where to upload it.

Any1 experienced a similar issue and can help?

Much appreciated :)
 
Never heard of this tbh. I verified my account with a code that was assigned to a 1p deposit to a bank account. (Did this just last week btw).

Then again my account is ancient, that might have something to do with it.
 
Yup it's new legislation we have, as you say to combat money laundering. Government is really cracking down this year! Bear in mind its Lso Easter Weekend so things will take little longer. Never heard of any bookies paying to PayPal though. Can I ask which one it was
 
Diddums said:
Never heard of this tbh. I verified my account with a code that was assigned to a 1p deposit to a bank account. (Did this just last week btw).

Then again my account is ancient, that might have something to do with it.
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Has nothing to do with that, paypal put a limit on your account for personal paypal payments, can't remember what the limit is but too many small payments or a few large ones, you have to get in contact with paypal and prove the payments are legitimate.
 
CSMonkeh said:
Yup it's new legislation we have, as you say to combat money laundering. Government is really cracking down this year! Bear in mind its Lso Easter Weekend so things will take little longer. Never heard of any bookies paying to PayPal though. Can I ask which one it was
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It was through online betting and its William Hill, I have a feeling this is gonna take ages to get my paypal back :S
 
I had the money laundering issue the other day from selling in the members market!

it took about three days to sort out and the sum of money that triggered the investigation was blocked from any use for about 5 days!

All I had to do was prove a couple of bits of personal information and they took over from there!

Pain in the ****

EDIT : I can't remember the exact numbers and can't check my emails until Tuesday ( my phone won't go a few weeks back ) but I found it funny that I got a email of them saying since I'm close to the cap before being investigated for money laundering they are going to begin the investigation

Below this is told me the numbers were like

I had received £1200 of the £2200 cap ( I can't remember numbers but I know I was a large sum of money away from being near the cap!! At least £1000 )
 
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I've had this before numerous of times when I sold items on ebay. Such a pain in the backside. It might be a bit slow because of the holidays
 
should just off bank transfer bookies must still let you?

tere should be a link somewhere probably on the main page after you login which says "show limits" or something like that click it
I had received £1200 of the £2200 cap ( I can't remember numbers but I know I was a large sum of money away from being near the cap!! At least £1000 )
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Its a cap on your account no the current transfer, it resets yearly or whatever

verifying raises the cap
 
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arknor said:
should just off bank transfer bookies must still let you?

tere should be a link somewhere probably on the main page after you login which says "show limits" or something like that click it

Its a cap on your account no the current transfer, it resets yearly or whatever

verifying raises the cap
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No they definitely froze the money in my account. I had gone to transfer it to my bank and it was stuck with a " pending investigation " mark below it for days - This usually takes me 30 seconds to clear and is in my bank within 20 minutes.

extremely similar to this
 
Will take about 2 working days. I am not Paypal's biggest fan but I can understand why they do it. However, when it comes from a reputable source like a large company like that I think the check should be waived. Substantial private transactions however should be checked IMHO.
 
I wonder if everyone started sending them an invoice for lost interest, they would be a bit quicker? Imagine how much interest Paypal are making off each one.
 
mejinks said:
I wonder if everyone started sending them an invoice for lost interest, they would be a bit quicker? Imagine how much interest Paypal are making off each one.
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You agree to it in the T&C. You can also check the limits of your account somewhere in the submenu labyrinth. It is a pain in the asphalt - happened to me 3 times over the years and each time when it was a least convenient moment when I had sold something for the purchase of something else which could mean a lost opportunity if changing car or similar.
 
Just upgrade to a premier account. I get sums of 4-5 figures in and never had anything frozen or held.
 
Well surprisingly I got response from them and they have actually sorted it out because of some glitch, I still can't put in personal information however can upload ID and Proof of address. So its a step forward at least :D
 
It's totally normal and not even new, basically over a certain amount then you have to prove your identity. Just paypal complying with uk regulations.

Just phone back up and ask where to send the info, rather than waiting for a complete fix.
 
It's not really anything to do with UK law it's just paypal making that bit extra from the account balance, nowhere in UK law does it state that such a small amount of money requires money laundering checks. With a standard bank account you can make single transactions of £10k without having your money held to ransom.
 
Energize said:
It's not really anything to do with UK law it's just paypal making that bit extra from the account balance, nowhere in UK law does it state that such a small amount of money requires money laundering checks. With a standard bank account you can make single transactions of £10k without having your money held to ransom.
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It's the accumulative amount, not one off transaction. They have to do the checks legally although there isn't any set amount in law, Paypal have set it at £1900iirc or there about, same as banks do when creating an account.


That's why if you know you are going to exceed the limit you can do it in advance so there isn't any down time. It is in no way Paypal holding funds for no reason, you can do this all in advance if you wish. You wouldn't expect to be able to set up a bank account without ID.
 
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