UK PayPal query

August 2, 2005 1:19 PM

UK Paypal question: "Once you have opened a PayPal account, you can start making PayPal payments right away. However, for security reasons, there are limits to the amount you can send and withdraw. To lift these limits, you can complete some additional steps and gain the status of Verified." I can't seem to see what those limits are - does anyone know?

I'm possibly selling a mobile for a friend's daughter, and she values it at £80. As I don't want to give any card details to Paypal/Ebay, will I be able to do this at that value? Why don't Paypal/Ebay make it clearer on the validation page wat the limits are?

posted by dash_slot- to Shopping (6 answers total)

I think the limit is 500 pounds per month transfer into your bank account. It is certainly fairly liberal and getting verified is a very easy process.

If you are concerned about giving out your card details you could always just ask for a check?
posted by laukf at 1:30 PM on August 2, 2005

Response by poster: Thats true, and I'm thinking I may have to do that. Otherwise, if I understand their process correctly, I _have_ to set up a direct debit in order to access the proceeds of any sale, is that right?
posted by dash_slot- at 1:34 PM on August 2, 2005

Why not cut out the middleman and have the buyer make a BACS payment directly to your bank account?
posted by grouse at 1:37 PM on August 2, 2005

Response by poster: I guess that's a possibility, but then a complete stranger would have my details, as opposed to a faceless corporation. Them's me choices, I guess.
posted by dash_slot- at 2:24 PM on August 2, 2005

Yeah, but there's a lot less someone can do with your bank details than your card details. The Direct Debit Guarantee offers a lot more protection that that of credit card agreements.
posted by grouse at 2:43 PM on August 2, 2005

Another limit is when you've received more than £5000 cumulative. This is in line with EU regulations on money laundering and 'know your customer' laws. I had to go through this verification process too.

I believe PayPal sticks you on a $1000 per month limit (or similar) for personal accounts, but I've had Premier since day one, so I can't remember.
posted by wackybrit at 4:13 PM on August 2, 2005