Thread: Paypal...

Anyone got good experience with Paypal?

Business is going great and as a result paypal have frozen my paypal account because I have too much money going into it and out to my bank account.

Both it and the bank account are in my mothers name (because paypal wont accept my debit card, it messed up, not bothered, upgrading to a business account soon)

They said that its frozen because of potential money laundering and she had to give them all her details, any ideas how long this takes to sort out? Is it normal for them to ask that? She got it via email but went to the actual paypal site manually, so its not a scam email thingy...

The amount of money involved is like £5k in bits and bobs over the last few months, then a single £3k payment and a single £1800 payment, all through Ebay.

Many thanks

I have a business account, and pay pal debt card. I just leave the money in there. I've had it frozen a few times for larger international transactions

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There are limitation if you do not have a PayPal Business account. But PayPal does those things all the time. There are times where I would use my PayPal Debit Card in multiple cities in a week and they would lock my card and I have to call in to re-use it again. They are just over protective.

But if you have nothing to hide and aren't doing anything illegal, then you don't need to worry. Although I know it is very inconvenient.

my account freezes when I am transferring alot of money from bank to paypal to ING from ebay and so forth. it is annoying but whatever

Originally Posted by 86JR

Anyone got good experience with Paypal?

Business is going great and as a result paypal have frozen my paypal account because I have too much money going into it and out to my bank account.

Both it and the bank account are in my mothers name (because paypal wont accept my debit card, it messed up, not bothered, upgrading to a business account soon)

They said that its frozen because of potential money laundering and she had to give them all her details, any ideas how long this takes to sort out? Is it normal for them to ask that? She got it via email but went to the actual paypal site manually, so its not a scam email thingy...

The amount of money involved is like £5k in bits and bobs over the last few months, then a single £3k payment and a single £1800 payment, all through Ebay.

Many thanks

Usually 2-3 business days. Setup a business account, until you have everything checked and balanced paypal has intense limits like $500 a month in and out. At the height of my eBay business we averaged 3-5k a month with some months up in the low 20's. Paypal sucks and i hate them with a passion but until a solid replacement happens, its a necessary evil.

get yourself a merchant account to accept credit card. it's the best online currency. PP, Amazon and Google checkout all lead to these BS acceptance issues.

Best thing to do is not to keep more than 500$ in your paypal accnt at once. Always cash out. Also get 2 since you are running a business.

Submit all info ... then call them saying you submitted all info. They will sort it out for you instantly.

I have a business account with PayPal and have been pleased thus far. I like offering the flexible to customers to pay very easily by clicking the button right within their pdf or email invoice.

Your going to have to give them your EIN or SS number anything over $20k and they submit it to the IRS......
Start working with your accountant. They are going to send you a 1099. Fvcking sucks but make sure you file it because your itching for an audit if not......