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PayPal Limits

(44 posts)
  • Started 1 year ago by colcolt
  • Latest reply from joshwolftree
  1. colcolt

    colcolt

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    I received an email from ebay today that I need to get "verified" because according to them, I've almost hit my initial limit. I think that's a crock. What do they care a long as you're using a credit card and pay for goods. Totally stupid and I don intend on giving them my bank account number so it can be linked to my PayPal account.

    Posted 1 year ago #
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    flmason

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    You provide your bank information to be verified since it links your address. Before you pay you switch to your credit card linked to PayPal and then the charge goes on your card rather than against bank funds.

    I have had a PayPal account for a long time and never had problems.

    Posted 1 year ago #
  3. colcolt

    colcolt

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    Giving out my bank account is what I wanted to avoid. I've had fraudulent uses of my credit card before and can imagine what it would be like to have someone hack my bank account so, that ain't going to happen.

    I think you can become verified by applying for their Master Card. That's more to my liking and should get you verified without linking your bank account.

    Posted 1 year ago #
  4. sebastian

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    Im bank account verified and also never had an issue. I believe you can pay with a credit card with out even logging in.

    Posted 1 year ago #
  5. nsfisher

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    I also linked my Pal account Cred Crd to and have had no problems. Charge goes on the Card and not from Bank account

    If at first you don't succeed, have another bowl.
    Posted 1 year ago #
  6. colcolt

    colcolt

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    Many sellers on ebay and other places only accept PayPal. They don't accept standard credit cards. I don't understand PayPals policies= nor do I follow why the verification process when you use a bank issued credit card you pay off monthly on purchases. The seller immediately gets his money when you use PayPal, you pay the charges when you get the statement so, what's the problem? they want to verify your bank account. If you didn't have a bank account you wouldn't be using a credit card or PayPal. This verification is a bunch of horse s**t.

    Posted 1 year ago #
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    flmason

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    The verification is done do that the seller can be sure the item ordered is sent to a valid address. They use the bank account address since in most cases it would be affiliated with a home address.

    A person might tend to use a credit card and that might be linked to a non home address.

    Posted 1 year ago #
  8. tbradsim1

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    Colcot I avoided the Bank account crap, don"t give that out lightly, I put a big payment and they upped my limit, you might want to try that. The old cajun

    The Old Cajun
    Posted 1 year ago #
  9. colcolt

    colcolt

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    I wrote them and this was one of the reasons for not lifting the limitations on my account...this is a generic answer and not tied to anything I asked them. Bolt emphasis mine.

    C. What if I don't want to verify my PayPal account?
    If you don't want to verify your PayPal account, you can still log in to your account at any time to view transaction history and receive money. However, for security reasons, we will not lift your sending limit until your account is verified.

    Posted 1 year ago #
  10. yadan

    yadan

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    The only problems I've ever had was with my credit card company, and not with PayPal or my bank.I've never had to give any bank info to PayPal.

    "I'm always easy to please since I'm always satisfied with the very best." - Oscar Wilde
    Posted 1 year ago #
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    Anonymous

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    I received an email from ebay today that I need to get "verified" because according to them, I've almost hit my initial limit. I think that's a crock. What do they care a long as you're using a credit card and pay for goods. Totally stupid and I don intend on giving them my bank account number so it can be linked to my PayPal account.

    Giving out my bank account is what I wanted to avoid.

    Sorry, but IMO, and as Old Cajun said, that's a crock of crap.

    I have my credit card linked to my PayPal account and have used it whenever a vendor accepts PayPal. That's it -- that CC is all I use. I'd close my account before giving them my bank account data or anything else.

    I don't "need" PayPal; I just figured it was safer using my CC thru PayPal, so that's why I got it. The CC linked to my PayPal account has a very high credit limit and I never carry a balance on it.

    Of course everyone's different. I have no idea if the credit limit of the CC used for PayPal plays in, or if someone's credit rating matters -- I don't know any of that, because it has never applied to me -- the purchases appear on my CC statement each month, I check them for accuracy, and pay them off. My PayPal account statement due every month is zero =$0.00.

    Posted 1 year ago #
  12. captainsousie

    captainsousie

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    It wasn't that many years back that PayPal was hacked a few times. I don't mind having my CC on paypal as I won't lose too much if something happens but I will not have my bank account on there because that could cause a lot more trouble.

    Eagles may soar, but weasels don't get sucked into jet engines.
    Posted 1 year ago #
  13. rcstan

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    If you wanted to get around this, you could use a reloadable cash card ( prepaid debit card ) that has a routing and account number just like a bank or a payroll card .....

    Posted 1 year ago #
  14. colcolt

    colcolt

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    If you wanted to get around this, you could use a reloadable cash card ( prepaid debit card ) that has a routing and account number just like a bank or a payroll card .....

    They still want your bank account number. That's what the verification is all about from what I gleaned from them. all the credit cards in the world won't get you verified.

    Posted 1 year ago #
  15. timely

    timely

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    I had Paypal want me to get " verified " awhile back in the middle of a transaction on Ebay. I was sent a letter telling me to get" verified " and also aquire their owm Master Card. I was not comfortable giving out my bank info, I also felt that my bank info had nothing to do with my purshases through Ebay as it was coming right off of my Credit Card. I have found that you can still pay as an " unverified person" through Paypal if the seller has his account setup for a guest to pay. Your address will show up on the invoice, if it does not just fill it in along with other info needed to pay for your item, along with clarifying your address to receive the item bought/won.

    Posted 1 year ago #
  16. colcolt

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    I've used my Visa many times before going the PayPal route and the invoice always showed my address. That's why I can't see the big deal in all this.

    Posted 1 year ago #
  17. peckinpahhombre

    peckinpahhombre

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    colcolt - what is the limit if you're not verified? Is it so much per transaction or per month or how does it work? I am verified, because linking to my bank account doesn't personally trouble me. Anybody you write a cheque to would have the exact same information that paypal has (from the bottom of the cheque). However, I'm not trying to persuade you - I know people have different sensitivities over these things and you have to do what ever you are comfortable doing.

    Posted 1 year ago #
  18. colcolt

    colcolt

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    I think the limit was $10,000 but there's no way I've spent anything like that and wrote them to that effect. It would take a long time on ebay and other places to rack up that much money.

    Posted 1 year ago #
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    mustanggt

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    Same thing happened to me last month. My limit was $5k. I couldn't figure out what the hell they were talking about. I've been a member of ebay for 5 years so I reasoned that I spent $1k a year. Well they aren't getting my bank account either. I already had a bill me later account from another business deal I was involved in so I linked it to that and not a problem since.

    Posted 1 year ago #
  20. mikephillips

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    I remember when Paypal sent me an email asking for verification via bank account "for my convenience", I just shitcanned the email, like some others here, no way in hell Paypal is getting my checking account information, not while I'm breathing. I don't recall any spending limit problems, but I rarely spent over a few hundred on Ebay, and haven't bought anything at all lately.

    My credit card has an obscene limit, if they can't do business with me using that, they can live without me.

    Posted 1 year ago #
  21. colcolt

    colcolt

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    Most all sellers on ebay require PayPal, which sucks in my opinion. What happened to using a standard credit card by itself? It all makes no sense to me. I buy stuff often on ebay due to hobbies I have and a lot of it you can't get anymore like reel to reel tape or radio tubes. Even if you find it somewhere else most times it's another PayPal operation. they must be run by the Mafia since everyone seems bent on using them. You can tie their credit card offer to get verified if you like their 20%+ interest rate.

    Posted 1 year ago #
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    Most all sellers on ebay require PayPal, which sucks in my opinion. What happened to using a standard credit card by itself? It all makes no sense to me. I buy stuff often on ebay due to hobbies I have and a lot of it you can't get anymore like reel to reel tape or radio tubes. Even if you find it somewhere else most times it's another PayPal operation. they must be run by the Mafia since everyone seems bent on using them. You can tie their credit card offer to get verified if you like their 20%+ interest rate.

    PayPal protects both buyers and sellers. I like using PayPal because I don't have to provide my credit card info, PayPal takes care of it, and with PayPal, they're not limp-wristed nor do they require a ton of info if I have an issue with a seller, again, PayPal to the rescue.

    PayPal assumes everyone lives on credit, which is probably true for many. Tying someone's bank account allows the buyer more freedom to overspend -- good for the seller and even better for PayPal -- and it doesn't hurt when PayPal has to reach into that bank account to get paid when the customer screws the pooch.

    They push their credit card because PayPal wants the customer to pay THEM interest on their overextended credit card, so it makes perfect sense for them to work hard to get those poor bastards away from TD Bank, Bank of America, etc.

    Posted 1 year ago #
  23. rcstan

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    +1000 rothnh

    I've lived on straight cash for almost 3 years now, thank God. I haven't any cards but I think the interest rate is a non-issue if you pay the full balance every month. I have a bank account solely for having my paycheck deposited into, and for writing a rent check every month because the 250+ unit apartment complex does not accept cash. In the long run, it's less expensive than buying money orders and using the check cashers.

    PP is a convenient low-cost CC processor and a ton of people use it.

    Posted 1 year ago #
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    Anonymous

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    I haven't any cards but I think the interest rate is a non-issue if you pay the full balance every month.

    Not to get political here, but the one thing Dodd-Frank did right was require credit card companies to tell you, on every monthly statement, exactly what the interest charge means.

    I pay my cards in full every month, but it still amazes me when I see, "OK Roth, your ballance is $783.26. If you make only the minimum payment due ($25), add nothing to your balance due, you will pay a total of $909. over 3 years." And my card is just 9.9% APR. I pity the poor folks whose APR is 20% and carry a balance -- ugh, it's impossible to catch up.

    Posted 1 year ago #
  25. colcolt

    colcolt

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    I have but three cards. A Visa, a Shell gas card and an American Express solely for my meds I have to order on line from Medco, or whatever they're called today. These all get paid when the statement is receive so I don't care if the interest rate is 20-25%. PayPal has my credit card number and they know my address. I don't see what their problem is.

    I know what my card's limits are and never exceed that. It's not that much as I didn't want a card with a $10K+ limit.

    Posted 1 year ago #
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    PayPal has my credit card number and they know my address. I don't see what their problem is.

    AFAIK, there isn't one. If I were you, I'd call PayPal and tell them you're happy with what you have and you want them to stop annoying you with all their badgering about linking your bank account. I'm betting they will say "no problem," and stop.

    Posted 1 year ago #
  27. colcolt

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    I'm sure that will work but the thing is I won't be able to buy anymore on ebay until I'm verified according to them as I'm within $475 of my limit? Who set that? Not me. I don't know where that figure came from as there's nothing owed to anyone on ebay or anywhere else. My CC limit I did set at $5k and I don't have anything on it so again, I don't see their problem.

    Posted 1 year ago #
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    No idea what that "limit" means. Maybe the credit limit on your credit card? My CC limit is a lot higher than $5K, you may want to raise that JIC. In any case, I'd call PayPal and ask. I don't see any reason why, when all is said and done, you'd have to tie in a bank account.

    Posted 1 year ago #
  29. colcolt

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    It's screwy. They say the limit was $10K and I only have a$5K limit on my card so, I don'tknw where they came up with that. They won't let me raise my limit without the verification horse s**t and that includes giving the bank account.

    Posted 1 year ago #
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    Did you call PayPal? I know they do push for the linking bank account bit. I just told them no and they stopped asking.

    Posted 1 year ago #
  31. dochudson

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    got the same thing from them 3 or 4 years ago.. I linked it to an old credit union account from 20 years ago that I have kept $20 dollars in.

    I Enjoy Aromatics
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    Posted 1 year ago #
  32. colcolt

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    got the same thing from them 3 or 4 years ago.. I linked it to an old credit union account from 20 years ago that I have kept $20 dollars in.

    That's excellent! Maybe I should open an account with another bank and put $100 in it. PayPal said once I was verified they would deposit two small amounts in my account and to check it in a couple days and then then give it back to them. Is that stupid or what? their sending limit(what you send to someone for goods)is the maximum amount of money you can send from your PayPal account.

    Posted 1 year ago #
  33. phred

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    That's pretty much what I've done - I have a separate checking account for my "mad money" that's linked to PayPal. It' s not even with the same bank as my primary accounts, so there's no connection whatsoever, and anyone trying to run fraud on that account won't get very far...



    "De gustibus non est disputandum."
    Posted 1 year ago #
  34. wildcat

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    What phred said. I opened up a "mamma don't know" account for PayPal use at another bank and keep a low balance in it.

    For whereas men of an older school, like myself, smoke for the pleasure of smoking...
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    Posted 1 year ago #
  35. joshwolftree

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    Okay this may turn political(hopefully not) however I work credit card proccessing(not for paypal) tech support. I'm not sure why they would need to link it to your bank account? perhaps they are using a linked bank account as an intermediary for verification purposes. However any type of online money account must positively verify the identity of the user once it has reached a certain amount of funding. For a time I was supporting a prepaid card for the google wallet application, and once you reached something like four hundred bucks on it or something we required the SSN,Address,Phone...you know all the stuff you would put in for opening a bank account online. The official reason for this (or at least as far as peons like me were told to tell the customers) was some line about the patriot act requiring identification of holders of rechargeable prepaid cards whose funding had exceeded some amount or other, in order to prevent money laundering and channeling of money to terrorist organizations. or some such official sounding BS. Because you can hit me on paypal for 900 dollars, as long as your card is valid it's fine, what is seen as $900 dollars to me is not (real name: card number 4111......), its (user ID:0091274-0

    )
    13 so they can track you down, one method of verifying that they have real info on a real person is SSN, Address, blahblah. The other method is to verify that you have an account that already required all this info,like say a bank account.

    All that being said contact them find out what their reasoning is and what if any benefit it really gives you, then politely tell them to ride of into the sunset on your middle finger or break down and give them the info.

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    Posted 1 year ago #
  36. timely

    timely

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    dochudson that is a great idea. I just ask the seller to send me an invoice from their own Paypal account where I fill in my info and can pay as an unverified person using the guest feature option. I have bought 10 items in the last couple of weeks this way.

    Posted 1 year ago #
  37. cajundad

    cajundad

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    I opened upma dummy bank account , that I only use for paypal . I still pay with my credit card as preferred method .

    "A pipe is the fountain of contemplation, the source of pleasure, the companion of the wise; and the man who smokes, thinks like a philosopher and acts like a Samaritan."
    -Edward George Bulwer-Lytton, 1st Baron Lytton
    Posted 1 year ago #
  38. colcolt

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    dochudson that is a great idea. I just ask the seller to send me an invoice from their own Paypal account where I fill in my info and can pay as an unverified person using the guest feature option. I have bought 10 items in the last couple of weeks this way.

    It looks to me that you'd loose a lot of bids that way. If you're down to hours till an auction ends, you've written the seller about that and he doesn't respond immediately or at all, you're not going to be able to bid an you'll loose the auction.

    Posted 1 year ago #
  39. timely

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    colcolt I ask the seller before I get into the auction and at other times they just send me the invoice with that option. I only had 1 person in 8 months that could not figure it out on their end, and he took a Money Order from me. I usually have to contact the seller in any event as they do not have the shipping price quoted for Canada.

    Posted 1 year ago #
  40. dochudson

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    It looks to me that you'd loose a lot of bids that way. If you're down to hours till an auction ends, you've written the seller about that and he doesn't respond immediately or at all, you're not going to be able to bid an you'll loose the auction
    .

    don't know.. that's the only contact I ever had with PayPal and I have never had a problem bidding on anything. I started by adding $200 via that blue card and on several occasions added more but by selling a few razors and brushes I've manage to build up my slush fund at PayPal. BTW, I show up on PayPal as a verified user whatever that is.

    Posted 1 year ago #
  41. colcolt

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    I talked with my credit union where I got the Visa card and they told me I could open another account of any sort, deposit $50 or whatever and they'd give me a different account number besides my checking/savings account number. Sounds like a plan to me. I'll give that to PayPal to pacify them.

    Posted 1 year ago #
  42. daveinlax

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    I think all they want is what you give out when you write a check. People get all squishy over PayPal but they hand over their info every time they hand over a credit card or write a check without a second thought. I also think a lot of what PP asks for is federally mandated to prevent money laundering. Always be careful about phishing!!!

    Posted 1 year ago #
  43. colcolt

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    That's true but when I write someone a check it's not going to be exposed to 15 million other people across the globe.

    Posted 1 year ago #
  44. joshwolftree

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    Actually every time you write a check or use a debit card your bank information is transmitted over a network. If you go to the store and write a check a copy of that check is uploaded onto your banks system so that it can be viewed online or looked up by bank employees. This occurs regardless of wether or not you use your banks online reporting. Somewhere your credit card company has on file your bank account data since you would use the account to pay the card. These systems are held to the exact same standards of security as any other financial system (PCI compliance) which means that these systems are exactly as likely to be broken into as any other system. If you use a local credit union you may be less likely because of the lesser amount of profit involved in the lower number of accounts involved...but then in a world where every body has all their data online...
    Not that I don't agree with your dummy account,just pointing out the relative futility of it

    Posted 1 year ago #

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