posted on January 13, 2004 04:41:41 AM newFrom the ebay announcement board
***PayPal Policy Update: Personal Account Limits***
Date: 01/12/04 Time: 10:34:55 AM PST
PayPal is introducing a new policy around the use of PayPal Personal Accounts. Effective February 12, 2004 the amount of money that a Personal Account will be able to receive will be limited to $1,000.00 USD per month. Therefore, only payments received from eBay or website sales will count towards the receiving limit.
Receiving limits will be reset each month on the anniversary of the date that the PayPal account was opened. For example, if you signed up for your PayPal account on August 15, 2002, your receiving limit will be reset on the 15th of each month thereafter. If you receive a payment once the limit has been reached, you will be given the opportunity to accept the payment and upgrade to a Premier Account, or to deny the payment.
This limit applies only to the amount of money you can receive. It does not impact the amount of money you can send. To check your receiving limit after February 12, 2004, log in to your PayPal account and click on the View Limits link on the account overview page.
Get the most out of your PayPal account:
Use your Personal Account for personal matters – Your Personal Account is perfect for sending money to friends and relatives, splitting a restaurant tab, and purchasing items wherever PayPal is accepted.
If you sell online, you should use a Business or Premier Account – Business and Premier Accounts enable you to accept credit card payments and receive Seller Protection on qualifying transactions. Eligible Premier and Business Account sellers are also able to offer PayPal Buyer Protection on their eBay listings. Having the PayPal Buyer Protection shield on your listings will enable you to attract more buyers.
To learn more about this policy update or the accounts and services available from PayPal, please visit www.paypal.com.
