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The Chip Board Archive 11

new bad rules with PayPal PERSONAL accounts

I just received my first notice from PayPal "reminding" me of the $1000 monthly limit on receiving business funds into a personal account.

(I intentionally have a Personal account so I don't have to pay the 2.9% plus 30 cents fee [that Business accounts must pay] receiving funds. Having a Personal account, I can receive funds in many ways, but I can not receive payments funded by credit cards. That is OK with me; in fact, as a seller there are advantages to not accepting credit card payments.)

To find out about the $1000 limit, just put "personal account" into PayPal's "Help" search engine.

Two important points;
(1) if you go to your PayPal account overview page, you'll see a little link that says "view limits." That link will take you to a page that gives the day of the month your $1000 bit starts/ends, and it should show you how much of the $1000 you have used up the current monthly cycle.
(2) the $1000 limit only applies to business (auction; goods, etc) receipts, but not to things like "quasi-cash," it appears. When you "send money" (via the "send money" tab) you have to select the type of payment it is. So "quasi-cash' should be a popular pick.

Robert

Messages In This Thread

new bad rules with PayPal PERSONAL accounts
Re: new bad rules with PayPal PERSONAL accounts
Re: new bad rules with PayPal PERSONAL accounts
Re: new bad rules with PayPal PERSONAL accounts
Re: new bad rules with PayPal PERSONAL accounts
not true
Re: Not A huge Problem

Copyright 2022 David Spragg