shld i inform paypal if i'm due to receive a large payment?

Banned 14 years ago

I don't know, but it's hard to see any downside to notifying them in advance, isn't it? It's only a phone call or an email. I would.

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Michael Oksa

14 years ago

Sorry for the ambiguous response, but here it is:

It couldn't hurt, but it may not help.

All the best,
Michael

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Ray Erdmann

14 years ago

Originally Posted by Michael Oksa

Sorry for the ambiguous response, but here it is:

It couldn't hurt, but it may not help.

All the best,
Michael

Care to shed some light on why you say it may not help? Are you suggesting that Paypal won't care and thus, if you're due a huge payout (for whatever reason), then Paypal could simply freeze your account until they figure out the "how and why" behind such a huge payout and take their sweet a$$ time doing it?

Just curious is all...

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tecHead

14 years ago

Originally Posted by Ray Erdmann

Care to shed some light on why you say it may not help? Are you suggesting that Paypal won't care and thus, if you're due a huge payout (for whatever reason), then Paypal could simply freeze your account until they figure out the "how and why" behind such a huge payout and take their sweet a$$ time doing it?

Just curious is all...

It can't hurt; meaning, in today's age of "The Patriot Act" and international terrorism, it would be prudent business practice to inform all parties involved with anything to do with money received and/or spent. Especially uncommonly larger amounts than what seems to be your usual.

It might not help; meaning, in today's age of "The Patriot Act" and international terrorism, you can't always predict whom is dealing with whom in their business dealings outside of with your business.

Here's an analogy; in today's world, would you have unprotected sex with someone you've only known for a few months?

nuff said (IMHO)
PLP,
tecHead

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Adam Nolan 14 years ago

Am I the only one curious as to how large this payment is.

If you're talking under 10k you're probably fine. If you're talking over... it might be worth calling.
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ChickenMan 14 years ago

Originally Posted by Michael Oksa

Sorry for the ambiguous response, but here it is:

It couldn't hurt, but it may not help.

All the best,
Michael

Isn't that a little redundant?
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tpw

14 years ago

It is always helpful to inform them, so they are not surprised when the payment arrives

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OnlineMarketingSys

14 years ago

Originally Posted by covertguy

should i do so? would it help in preventing my acct from being frozen?

They generally won't freeze your account, they may however freeze the payment. That said, yeah it doesn't hurt to contact them, though generally if there is a problem with the payment they are going to need to talk to the sender.

I've had problems in the past with multiple payments over $1k from the same person, but it was pretty easy to get it straightened out.

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mrsray

14 years ago

Originally Posted by covertguy

should i do so? would it help in preventing my acct from being frozen?

If you receive a large payment over $2,000 - $5,000, you can likely expect a temporary restriction on your account and a request for a personal or business credit check depending on your account type. If you are a US citizen this will likely require the submission of your social security number or a tax identification number

By law, PayPal is limited to $10,000.00 USD or it's foreign equivalent per transaction.

Contacting them in advance may allow them to do the "credit check" prior to the payment to avoid temporary account restriction.

Hope that helps

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tecHead

14 years ago

Originally Posted by mrsray

...

By law, PayPal is limited to $10,000.00 USD or it's foreign equivalent per transaction.

...
Hope that helps

Can you kindly point us to where this is documented on the official PayPal website, please?

Thanks.

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mrsray

14 years ago

Originally Posted by tecHead

Can you kindly point us to where this is documented on the official PayPal website, please?

Thanks.

sure, it is discussed in paypal community help forum mentioned by an official paypal advisor
https://www.paypal-community.com/t5/...-p/42158#M5056

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tecHead

14 years ago

Originally Posted by mrsray

sure, it is discussed in paypal community help forum mentioned by an official paypal advisor
https://www.paypal-community.com/t5/...-p/42158#M5056

Thank you, very much. Forgive my original skepticism; far too many people jump on this forum and simply talk out the side of their a$$.

Although, the reason I asked can be explained in the actual quote from that referenced thread...

Originally Posted by PayPal

By law, PayPal is limited to $10,000.00 USD or it's foreign equivalent per transaction. The maximum dollar amount for a single transaction is $10,000 for a PayPal member. To make a payment more than $10,000, multiple transactions can be sent to add up to the total amount.

The way your original statement read could lead one to believe that you were saying "No more than $10K can be transacted by any one individual account"; when that simply isn't true.

Thanks for the link, though.

Also, duly noted is...

Originally Posted by PayPal

The maximum charge limit is dependent on the availability on the credit card after the account is Verified Buyers who do not have a PayPal account may send a maximum of $4,000.00 USD or the equivalent thereof, for a one-time single transaction. Note: If the amount of your transaction is greater than $4,000.00 USD or the equivalent thereof, you will need to sign up for a PayPal account to complete your payment.

This opens up a whole new marketing tactic, really. Esp. for consultants and offline marketers...

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mrsray

14 years ago

Originally Posted by tecHead

[b]

The way your original statement read could lead one to believe that you were saying "No more than $10K can be transacted by any one individual account"; when that simply isn't true.

Thanks for the link, though.

you are forgiven, I totally understand

thank you for clarifying it more for us, as I should have been more detailed in my answer

I think the paypal community is a great place to get paypal questions answered and hope many warriors find the link useful.

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MilesT

14 years ago

I"ve had multiple 10k deposits in a day go through PayPal without a problem. I've heard the horror stories of people having their accounts locked up for weeks for smaller payments. PayPal can be a crap shoot. Yeah, call them, why not.