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PayPal now limiting "release amount"/withdraw amount per month
**WTF??? **
Even more reason to push using Stripe, Bitcoin, and Alipay harder.
This is for a fully verified, business account.
Your new release amount is $3,300
Hello XXXXXXX,
We're changing the way we release payments you receive. As of August 31, 2015, you can access the first $3,300 you make per month as soon as the transactions are processed. Above your $3,300 release amount, the money becomes available 21 days after you receive the payment.
See more details.
Why we're changing
We at PayPal have decided to focus on letting our customers receive payments up to a certain amount. To determine your $3,300 release amount, we reviewed details specific to you and your business. Most sellers never go above their release amount.
We review accounts monthly. If you think the amount is too low, you can also request an increase.
See more details
If you're having a sale or promotion and you expect to go beyond your release amount, you can ask for a temporary increase. Just visit My Settings and click My upcoming promotions.
Thanks for choosing PayPal.
Sincerely,
PayPal
Comments
Maybe you've had many disputes and this is a kind of additional insurance for them?
0 disputes
lol , for lift this limits you need to prepare a big paper documentation
That depends on individual situation. When we first signed up with them they were taking 100% of payments made using CC via them for a month as a 'reserve'. They were happy to adjust as the turnover increased and company aged, but they still keep part of the payments as a 'reserve'.
It's worth contacting them though if the limit is too low for you.
I think they are doing this to get people to start using balances more for payments/purchases.
I usually empty out (withdraw) my entire cash balance to my bank before making any payments to anyone, as I want my payments to get charged to my AMEX.
If I have any balance, it will try to make the payment from balance and not allow me to use any other funding sources.
Sneaky bitch ass paypal!
Well, there are other payment processors not releasing the money immediately too.
This seems to be on case per case basis, but you can probably discuss raising the limit with them if it's really a problem and you have a good history.
Mid 5 figures rolling through 2 business accounts monthly, haven't been given a withdrawal cap.
My guess would be that they're assessing you based on the industry you're in - so not that you had disputes, but maybe they've been caught between a lot of disputes with hosting companies (or whatever business industry this account is for) and taken a big enough hit on them to change policy.
Everyone's heard the paypal horror stories, but in the 8 years I've heavily used paypal.. I haven't experienced one. Pick up the phone and call them (as it says), they'll assess your account and probably raise that withdrawal limit to where you need it or higher (as long as you're in good standing).
It could be a way to keep money in the system.. but.. probably not the primary reason. This kind of stuff pisses people off and makes them move, so they had to be hurting bad to make this policy.
This hasn't happened in my account, however, my account is quite old (2007) and never had a single dispute.
Is this also for individual accounts?
Mine's an individual account, if that helps.
Nah, mine doesn't have any limit like that. Anyway I don't think this happens for most business accounts either.
If they impose 3.3 k on us it will be extremely bad as a lot of the payments for VPSes go through paypal, even 30k will be a serious problem even as Uncle does use paypal to buy stuff now and then.
Paypal are w@nkers really. 1 dispute and there is a risk they will hold all your funds
Have had a PayPal business account for one of my business for years. IIRC, they have always limited immediate withdrawal capability. I find 21 days is not a terribly long time to wait for your money. You know the money's there, that's the main thing from my POV. If your business makes sense and has a good ROI, and you find the 21 days is the limiting factor on growth, and you want to keep a really lean operation, you might look into taking out a small business loan.
That is not the point, sure, nobody is happy with arbitrary barriers to their funds, but the issue is that Paypal is not predictible, who knows what will happen in the future, they limited me various times before, each time asking for papers I refused to provide and used unverified accounts instead, without any issue. They reenabled it in the end, without any paper sent, or even a ticket, but this and together with other stories I heard, might look like they try to keep your money as much as possible to be able to confiscate them when they feel like it.
I have never had any limitation on my 4 year old PayPal personal. New accounts have 21 day hold on payments, however that limit on business accounts, even with accounts having no dispute is sad news.
New startup business account can withdraw any ammount it just takes 3 days to process.
Just pay more suppliers via PayPal and saves you moving as much out to your bank.
@ItsChrisG I think you can select your payment method even if you have a balance, I did on my personal account a short while ago to earn cashback via the card.
$3.3k a month Limit, that's a pathetic amount. wonder where they came up with such a figure.
You would probably prefer that some "business" could grab 100k, withdraw, go away and them before you can open a dispute for money which is long gone.
This limit is not the norm. I had been limited in the past too, but being in good standing helps a lot. Also, you can actually call PayPal and talk about it if you really need higher limits.
Please don't use Paypal to fundraise terrorism.
Ah well no, that's prolly not the real reason!
It is already in India but in India they will keep this limit for only new accounts and to lift it you must be a member for 2 months plus u must receive $1000 without and shitty disputes! ( PAYPAL SUCKS )
It's pretty standard for payment processors to withhold a % of transactions. We negotiated with a bunch of them. Some want to withhold funds for months.
If it matters to you, use a different payment processor.
Nice non-answer.
Mind you the EU already has withdrawal limits.
there should be no limit. and if a dispute was necessary it could still be raised (i would have thought you knew this since its basically common sense).
i had 2 years 30 days withdrawal limit. so money was wit
I dont have any limits imposed.
However i had 2 years of 30 days pending payments and limit of 1k €
Imagine that... and best part forbidden balance payments, so i had to withdraw to bank then pay... and i had 1k limit per month. Imagine what is that doing to small business.
Still managed to survive... costed me a lot of time. If i had all those money at my disposal who knows what would happen...
I've had funds on hold for 3 years, I have the money now and it was the only bad experience that I had with PayPal.
The only thing that sucks, it's the actual wait time for funds from eBay, but I know it's "for a good reason", scammers are everywhere.
We've also got limited, they want to search our rectum now.
They invoke EU laws but don't cite anything except that it's related to money laundering. It's very funny when at the bottom of the message the signature says "Paypal Luxembourg".
Indeed, child porn is in this case. If you think you have a hard time, think of those sick people how badly are they suffering and feel a bit better.
@drserver my limits are lifted completely to my knowledge once they had company details and personal verification (they mentioned my personal account of 5+ years helped some), payments to bank do sometimes take longer than 24hrs for the next 3months IIRC.