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Post by Roadie on Jan 30, 2015 16:21:40 GMT -5
Hey
Not sure if I'm putting this in the right place, but I just wanted to know if anyone else in the UK especially has had issues with paypal?
This year they've said I've made over £1300 or something like that in an annual year and they're now limiting my account in compliance with EU law? Is this a thing so the tax man can then get a share of this profit?? I don't understand this at all. I've sold random things like customs I've had lying around for a while and clothing and other household items I didn't need but they're asking if I am a business?
If anyone could shed any light on this that would be great! I'm so confused!
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Post by Willow'sTheNewBlack™ on Jan 30, 2015 18:55:18 GMT -5
I'm not getting this problem but when I sell customs on ebay I put the money straight to my bank
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Post by SlayerLV on Jan 31, 2015 0:16:32 GMT -5
I've been having this problem and I'm in the US. They say I can only spend so much when I know I have plenty of money to afford what I'm buying.
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Post by elee0031 on Jan 31, 2015 1:08:18 GMT -5
if i recall correctly when you set up an account with them you have to set them up individually or at least thats what i did. so at first it was buy only and then i started selling and had to confirm my account with bank.
if your an actual store and have a business license i think you have to pay a store front fee on top of selling stuff. i maybe thinking of ebay now. but paypal does have a cap of how much you can have in your account. but i never ran into this issue because i never sell top dollar stuff like items in the $1000.00 range, just $10 and up.
normally when you sell something those funds are credited to your account and you can use that to purchase other items that take paypal at checkout. you have the option to transfer those funds to your bank or ask for company check.
you guys can contact paypal and ask if theres limits on your account and what you can do to get them waived. its just a simple verification process. i have my credit card and bank account on there, so i dont know if that made a difference. and my funds are going faster than they are coming in, also maybe another factor.
but yes, they will ask you if your a business or personal and you can let them know that and if you plan on selling stuff i.e. ebay and amazon etc, will also let them know how to adjust it.
i think theres a bill out here in the USA that someone was referring too that limits large transaction so they can monitor it and its not supporting terriorism.
yea go figure, but yea its a thing and an international one too. sorry UK, you guys are affected by this too. and this is on the personal side i think business side have a little more leway with limitations
also i have a credit card, not a debit card. my cc limit is 5,000.00 and that was because i used it to pay for college and leisure stuff.
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