Paypal and a lot of transactions

Tony Williams

Tony Williams

Tony Williams

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So let's say your receiving a lot of money, you have about £1k worth of money coming into your Paypal account over the course of maybe about a week. There would be around 30 transactions.

I am sure eBay powersellers do a lot more than this though.

Would that be a problem for Paypal, I have heard peoples accounts lock up and they can't receive anymore payments? It should not be a problem with the bank either?

If it is a problem, alternative?
 
There shouldn't be a problem but Paypal can, and often do, just block your account while they carry out random "checks" on it, and nothing you can do will make them free it up again until they're ready (i.e when they've made some interest off you).

So i'd take my custom elsewhere. Plus Paypal is just so open to scamming that it's running rampant.

As for what, I can't help you there as I just use Bank Transfer for things like this. But I would massively recommend NOT using Paypal.
 
Yes it most likely will be a problem and they will ask you to send the additional documents. They've done it to me in the past.
 
Tute said:
There shouldn't be a problem but Paypal can, and often do, just block your account while they carry out random "checks" on it, and nothing you can do will make them free it up again until they're ready (i.e when they've made some interest off you).

So i'd take my custom elsewhere. Plus Paypal is just so open to scamming that it's running rampant.

As for what, I can't help you there as I just use Bank Transfer for things like this. But I would massively recommend NOT using Paypal.
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Sounds completely illegal to me.
 
scott212 said:
Sounds completely illegal to me.
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To me also but they get away with it.

I believe there was a fund set up on these forums a few months ago that people could pay into. Paypal quickly got their claws into that and Gilly had a fight to get it back.
 
if you receive more than £1700 in one year you have to go through additional secuiry checks and your account is frozen while they do thet. They did it to me.
 
£1,700? That's ridiculous, if you were doing something remotely illegal I think you'd be transferring more than that.
 
Greebo said:
if you receive more than £1700 in one year you have to go through additional secuiry checks and your account is frozen while they do thet. They did it to me.
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Yep, that's correct. OP if you log into your account then you can view the limits currently applied to your account including how much of the ~£1700 you have left.
 
I sold something for £50 on auction last month, and after 5 years of selling similar items with 100% positive feedback, they witheld the money for either a month, or until the new, unverified buyer left me positive feedback. Needless to say i only just got my money yesterday after 27 days.

Paypal are fine until their fickle finger of fate lands on you for no reason what so ever, and then you will suffer needlessly while they earn interest on your cash.
 
Yeah it's all about luck with Paypal.

Sadly it's all their in the terms and conditions - it's not illegal but it's completely infuriating.

Having said that I generally receive more than £1700 a year but I haven't noticed any blocks on my account...
 
Its to stop money laundering guys. A lot of surprisingly a lot of money laundering starts with small amounts where most people wouldnt think twice about when they look at. But the small amounts all add up. Paypal did this to me when i was running my own mmorpg and getting donations from people. I now have a better paypal account where i can withdraw and send even more money.
 
Mine's a premier account, and has been used to send and recieve values over £1500 in the past, multiple times. I'm afraid it really is just luck, or a completely ridiculous and unpredictable policy term.
 
so actually its to do with EU banking legislation - they have to collect the same kind of data on you as a bank would, but somehow manage to delay it until either you hit a limit or something that appears "dodgey" happens against your account.

Apparently there is a way of doing it in advance, but I'm not sure how you'd go about it as a single person... as a business you have to contact their business support line and then fax "KYC" docs through to them.
 
Siliconslave said:
so actually its to do with EU banking legislation - they have to collect the same kind of data on you as a bank would, but somehow manage to delay it until either you hit a limit or something that appears "dodgey" happens against your account.
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Correct.

Apparently there is a way of doing it in advance, but I'm not sure how you'd go about it as a single person... as a business you have to contact their business support line and then fax "KYC" docs through to them.
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I had to confirm my address by them phoning by requesting a call back to my home address and faxing them off a bank statement or a few other documents.
 
I'd rather kick my own **** off, than use paypal again.. They randomly froze £600 in my account once, and there was nothing I could do except go legally.

I killed my account straight after and refuse to use it for anything now, nobody treats me like that, they can take their service and get stuffed as far as i'm concerned, bunch of crooks.
 
It's funny, my bank don't freeze my money every £1.7K and force me to jump through hoops for them.

EU Legislation or no EU Legislation, Paypal milk everything they can to the absolute extreme.
 
Sash said:
Correct.

I had to confirm my address by them phoning by requesting a call back to my home address and faxing them off a bank statement or a few other documents.
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I've previously done this also, and yet still had money randomly frozen for "security".
 
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