PayPal is one of the world’s biggest online payment services, allowing individuals and businesses to transfer money to and from people and businesses all over the world. When you just open a standard or business account with PayPal, you are granted a withdrawal limit. This is a PayPal transaction limit that controls the amount of money you can send during the day or month. The PayPal maximum limit is determined by a number of factors, and new accounts are generally assigned lower limits.
Why Does PayPal Place Limitations?
- To follow the laws of the country: Each country has its own set of laws, and it is PayPal’s responsibility to make sure that they comply with those laws when it comes to offering accounts to residents. However, if you require a greater PayPal transfer limit, there are several options available to you.
- PayPal believes your account has been compromised or hacked: A temporary restriction prevents money from being used or relocated out of your account.
- PayPal has been notified of suspicious activity by the linked bank.
- You have purchased or sold high-risk items: PayPal may impose temporary rules to prevent multiple charge-backs.
- Your account has a number of conflicts or setbacks that have not been properly addressed.
- You are not following PayPal’s acceptable use policy by purchasing or selling prohibited items.
- Your PayPal account has not been fully verified.
There are a variety of ways to go about increasing your account limit
Link a Bank Account
- Go to the homepage of your PayPal account (refer Resources) and insert your email and password. Click the “Login” button.
- Click the “Profile” tab under “My Account” to reach a drop-down menu. “Add/Edit Bank Account” will appear.
- Enter your bank account information, including the bank location, bank name, routing number, account number, and account name, then tap “Continue.” PayPal would then make two small payments from your PayPal account into your bank account and it will send you a confirmation email when the deposits are made, which will tend to take two or three business days.
- Track down the two small PayPal deposits in your bank account by looking through your bank statements or online banking. Re-enter these deposit amounts into your PayPal account. PayPal will raise your PayPal transfer cap once it receives this information.
Link a Credit or Debit Card
- Go to the homepage of your PayPal account (view Resources) and enter your username and password. Click the “Login” button.
- At the top of the page, select “Wallet.”
- Click “Link a payment method” and select a debit or credit card.
- Enter your credit or debit card account information and click “Submit.” Your PayPal limit will not be increased until PayPal verifies the credit or debit card by charging a small amount to that card. The charge will appear on your credit card statement or in your online banking account with a four-digit code, but it could take two to three business days. Once the deposits are made, PayPal will send you a confirmation email.
- Log in to your PayPal account and go to the “Wallet” section at the top of the page.
- Tap “Link a payment method” and select the debit or credit card from the drop-down menu.
- Enter the four-digit code and press the “Submit” button. When the code is accepted by the system, your PayPal withdrawal limit will be increased.
Conclusion
PayPal is very simple to use; all an individual needs is an email address and to create an account. The benefit of using PayPal is that it supports a variety of online services. PayPal is constantly improving its service, allowing customers to increase their PayPal credit limit.
