I have a question for Paypal users...

[Sugarflower]

Paypal gives you a funds withdrawl limit of $500USD each month. I want to lift this limit since I rarely keep funds in my paypal account and usually immediately transfer them to my bank account to save. I'll be selling tons of items on ebay and some cels within the near future and would hate to use up the $500.00 limit and then have to wait for the following month before I can get the rest of the funds out.

I was reading on how to lift this limit and to do so it seems they require a 3 step process.
1) Comfirm your SS#
2) Comfirm a bank account
3) Complete an enrollment into their 'Expanded Use Program'

Has anyone completed these steps to lift the withdrawl limit on their account? I'm a little confused about step #3. Here is what paypal states I must do:

Step 1:
Authorize PayPal to charge a $1.95 USD Expanded Use Fee to your card. (You will receive a $1.95 USD bonus in your PayPal account after you complete enrollment.)

Step 2:
On your next credit card statement (monthly transaction history), find the 4-digit Expanded Use Number that will be printed in the item description section of the charge. It may take 3-4 business days for the number to appear on your statement.

Step 3:
Log in to your PayPal account, click the Complete Expanded Use Enrollment link on your Account Overview, and enter your Expanded Use Number.

Click Get Number to authorize PayPal to charge $1.95 USD to your credit card. After you successfully enter your Expanded Use Number, we will give you a $1.95 USD bonus on the first PayPal payment you send.

Are they planning to charge me the $1.95 fee each time I want to send money to my bank account? Or is this a one time deal like they did when they charged my credit card (or was it my checking account?) a few cents when I first signed up and then they put the money right back in there. I'm really confused.

[zerospace]

Interesting.. I've never heard of that limit. What kind of PayPal account do you have? (Personal, Premier, etc?) Last I checked I don't have a funds withdrawl limit like that, but I've had a Premier PayPal account for several years now...

EDIT: I just checked PayPal and I don't have a withdrawl limit on my account.. possibly because I'm 'verified' because I have a bank account linked to it, plus I've had my account for nearly 5 years now.

[HotIce]

I don't seem to have a maximum withdrawl limit either, just a minimum of 10... But I too am a verified Premier member, and I've had my account for about 5,5yrs now.

I really wish I could help. =(

[Sugarflower]

I've had my account for a couple of years now and I've been verified too. I just recently upgrade it to a premiere account. Before, it was only a personal account but I wanted to start accepting all types of CC payments from others so I upgrade it.

I wonder if this is a new thing that Paypal has started with newer members? I'll log into my account and try to look things over more in case I'm overlooking something.

I still don't understand why you have to go through all that just to get a larger limit for taking money from your account. IMO it's silly. I'd rather not give my SS# through the internet or even to them at all.

[zerospace]

Wow. I don't remember having a limit when I first upgraded to Premier, so that must be something relatively new with PayPal. Your limit will probably disappear after some time, but I don't think the PayPal site said when that would happen...

When I click the "view limits" link next to my account balance, it just shows me a page that's practically blank...

[Sugarflower]

I just rechecked and I only have to choose 2 of the 3 options for lifting the limit for my account. I'm still confused about option #3 and would rather not choose #1 (SS#).

I also noticed my account has only been opened since May 2005. I had a previous account that I closed due to moving out of state and Paypal said I needed to close it and reopen a new account due to the move and losing my old email address.

[vampyreshoujo]

3) Complete an enrollment into their 'Expanded Use Program'

The $1.95 charge sounds like a one time deal to me. They just want to verify that the CC number you put in is actually yours by having you verify it via the four digit number that will appear on your statement due to the charge. After you've completed the verification process, they'll "refund" the $1.95 charge by subtracting that amount from the next paypal payment you make.

[DragonballZSubzero]

Hey Sugarflower,
I know exactly what your talking about with that limit, I had to go through step number three before it was lifted. I will try to remember as best I can of what I had to go through to have all this taken care of.

Well what you do is, as it says, allow them to charge a small amount to your bank account that you registered with them, this is so they can send you a "special number" that will show up on your bill. You use this number that is in the title of what you were charged for, like you know amazon.com would be the title of the charge if you bought something from them, well this number will be in the title of this charge (such as 3456). Confusing I know. Then you take that number from your bank statement and go back to PayPal's website and enter it into the area that is requests it. This is I guess just to make sure your money is going to the right bank account.

Sorry if thats confusing, I am not good at trying to dumb down a authorization instructions.

Hope that helps! Good luuck!

[Sugarflower]

That's silly of them to do that since I already have my CC registered with them and my bank account. Maybe I should call them. They already make things complicated enough for me.

Thanks for the help everyone!

EDIT:
Just noticed your post after I slowly made mine, lol. I'll probably try that then DBZSubzero, thanks.

[duotrouble]

WOW! Good luck to you, Sugarflower! I'm glad I've been a premier member for over 5 years now. I didn't have to go through anything like that. I just had to get verified. I didn't even know there were limits or a view limits page. *going to have to go look*

[kittens]

Good luck Suger! I hopeeverything goes well

[Kujaku]

It is standard now with Paypal. I won't give them my Bank account #, so I'm not verified. Like I care. But any money that is sent to me I spend on other stuff, so I never need to deposit. They did raise my sending limit from $2000 to $7000 or $10000, four months back. I was happy because I had reached my sending limit.

[kittens]

It is standard now with Paypal. I won't give them my Bank account #, so I'm not verified. Like I care. But any money that is sent to me I spend on other stuff, so I never need to deposit. They did raise my sending limit from $2000 to $7000 or $10000, four months back. I was happy because I had reached my sending limit.

So much $$$$!!!!

I really do not spend $$$ via ebay at all...... I am very cheap

[Kujaku]

It is standard now with Paypal. I won't give them my Bank account #, so I'm not verified. Like I care. But any money that is sent to me I spend on other stuff, so I never need to deposit. They did raise my sending limit from $2000 to $7000 or $10000, four months back. I was happy because I had reached my sending limit.

So much $$$$!!!!

I really do not spend $$$ via ebay at all...... I am very cheap

It is just my sending limit. But I've spoken to a few people that aren't verified and for some reason Paypal won't raise there sending limit, so they are stuck with just $2000. Maybe it is because I have a great credit history. I have no idea, I just know I will never give Paypal or Ebay my bank account. No matter what!

[Cloud]

I like caring people.