This is a fairly common question and I thought I would answer it for personal and business accounts.
All accounts are limited to a 500.00 spending limit until they verify a bank account. This is done to reduce the risk of fraud and the monetary damage that can be done in the event of fraud.
Person-person payments are limited to 2000.00 over a six-month period against the credit card. If you fund against an ach transfer or payments received, you have no limit. The limit only applies to the amount you can send against a credit card. (The only time a credit card limit does not apply is when paying a business account. This is unlimited)
Person-to business payments:
The main reason that someone would want to sign up for a business account (as a seller) has to do with the fact that buyers using personal accounts do not have the spending limit against the credit card impacted.
posted on September 12, 2000 08:06:19 PM new
Damon:
Thanks for the info. Now if the $500 limit were raised to $750, it would be a better world, as now new PayPal customers have to wait until their bank account has been verified to buy a new computer from me. Sort of a pain, but I understand and agree with the reasoning behind it. Thanks for the clarification...
