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Paypal question about receiving $$$

466 Views 2 Replies 3 Participants Last post by dogonfr, Dec 9, 2005

jimmy

Discussion Starter · Dec 8, 2005 (Edited)

Sorry for my ignorance. I have a paypal accnt, basic and not verified. I would like to sell an item & my buyer wants to pay with paypal. NOT on Ebay. I cannot receive more than $500 without doing something more to my account--either verifying it by adding in my bank account or something involving my credit card. Maybe I am blind but I cannot figure out what to do. I am quite reluctant to include my bank account, which receives my paycheck & pays my mortgage, call me paranoid. How can I set it up to reveive $$$? THX

Also, if I do the right thing, how do I know the $$$ is in my account after the transaction?

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LBmtb

· #2 · Dec 9, 2005

I THINK that the $500 limit is for how much you can withdraw in a month. I'll double check and edit the post if different.

edit: Ya, the $500 limit is for how much you can withdraw in a month.

http://www.paypal.com/cgi-bin/websc...c=1313&unique_id=4726&source_page=_home&flow=

New account holders are limited to withdrawing $500.00 USD per month from their PayPal account. The start of a month is marked when the PayPal account is opened (e.g. May 15 to June 15).

The Withdrawal Limit can be removed by authenticating your identity.

To authenticate your identity, you must complete two of the following three requirements:

* Add and Confirm a bank account
* Enter your Expanded Use Number
* Confirm your Social Security Number

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dogonfr

· #3 · Dec 9, 2005

jimmy said:
Sorry for my ignorance. I have a paypal accnt, basic and not verified. I would like to sell an item & my buyer wants to pay with paypal. NOT on Ebay. I cannot receive more than $500 without doing something more to my account--either verifying it by adding in my bank account or something involving my credit card. Maybe I am blind but I cannot figure out what to do. I am quite reluctant to include my bank account, which receives my paycheck & pays my mortgage, call me paranoid. How can I set it up to reveive $$$? THX

Also, if I do the right thing, how do I know the $$$ is in my account after the transaction?

The person buying can pay whatever the final price is to PayPal.
You cannot remove more than 500.00 unless you get verified.
You can open a seperate bank account for eBay, PayPal transactions.
When the item is paid for PayPal will send you verification of this, invoice.

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