Paypal problem, Got solution?

**fook3d** · 08-18-2007, 03:07 AM

Hey everyone.

I have had a paypal account for just over 2 years and this week i reached £4,500 total income within those 2 years, So paypal decide to limit my account so i cannot send out any money.

For the limit to be lifted, They are demanding a UK company code etc which i dont have..

Is there any way i can get around this without having to setup a company? £4,500 over 2 years averages around £43 a week, That is not a business income imo

If no one has a solution, Does anyone know any other service that works the same that accepts paypal payments to it and links with bank etc for withdrawals?

Thanks in advance

**hasnainbk** · 08-18-2007, 07:07 AM

Get a new credit card and start again with a new account.

**Skiz** · 08-18-2007, 07:22 AM

According to Paypal you're receiving more than 43 GBP/week:

Depending on the primary currency of the Personal account, the receiving limit is $500.00 USD, $650.00 CAD, €500.00 EUR, or £250.00 GBP. (The receiving limit is based on the primary currency of the account. If you receive payments in more than one currency, your limit will be calculated based on the total amount you receive each month – after the amount is converted into your primary currency. To view your Personal account limit, log in to your account and click the View Limits link.)

The receiving limit applies to the following payment types: eBay Items, Auction Non-eBay, and Goods-Other (Website sales). All applicable payments that exceed the monthly limit will be placed in accept/deny status until you upgrade your account to receive the payments or you choose to deny them. If no action is taken, the payment is returned to the buyer after 30 days. The limit is reset monthly.

Is there any disadvantage to an business account?

**fook3d** · 08-18-2007, 02:42 PM

Originally Posted by Skizo

According to Paypal you're receiving more than 43 GBP/week

I thought that was the case also, But they have other limits which they dont list it seems. Maybe because im not american and they dont really favor anyone other than americans. Like to verify an account an american just needs to link to a bank i think it is, English need photo ID sent to them along with bank account details and credit card

Anyway, This is the quote from the page when i log in:

Why do I need to provide additional information about my account?

We require additional information about your account for the following reason(s):

# 15 Aug. 2007: You have received £4,500.00 GBP or more in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than the set limit in total payments. These steps need to be completed within 180 days to comply with this regulation.

Anti-Laundering is a joke, An average of £43 a week really isnt worth laundering

They really should focus on the people with business's more. After all, 95% of laundering or more is funded by business's?

**Skiz** · 08-18-2007, 02:56 PM

Originally Posted by Luke_marlow

I thought that was the case also, But they have other limits which they dont list it seems. Maybe because im not american and they dont really favor anyone other than americans. Like to verify an account an american just needs to link to a bank i think it is, English need photo ID sent to them along with bank account details and credit card

Anyway, This is the quote from the page when i log in:

Why do I need to provide additional information about my account?

We require additional information about your account for the following reason(s):

# 15 Aug. 2007: You have received £4,500.00 GBP or more in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than the set limit in total payments. These steps need to be completed within 180 days to comply with this regulation.

Anti-Laundering is a joke, An average of £43 a week really isnt worth laundering

They really should focus on the people with business's more. After all, 95% of laundering or more is funded by business's?

It has nothing to do with favoritism, get real. It even states all the cut-offs in in the popular currencies.

There is also a contact phone number you can call or an email to send questions. Surely they can answer better than anyone here.

**fook3d** · 08-18-2007, 03:14 PM

Maybe sort of stating they favorise americans was a little harsh, But americans do have it easier to verify accounts etc, Maybe its the government that dictate that though, Who knows.

I was talking to an american friend who has a business account and he told me to get his business account he only needed a tax number, which was obtainable by a quick phone call to the government offices.

For english we need a business number which means we have to really own a business. The problem with business's here are you need an address for them to link to, obviously.

A rented property here cannot be used for a business or anything that the government deems as "for commercial use", But regardless of that, For an average of £43 a week im hardly going to rent a business property now, Am i?

Tbh, I was hoping someone has been in the same situation and figured a way to get around it without having to.

The weird part is, Paypal's Anti-Laundering will mean i will probably have to come to some agreement with a business account owner and have the money sent to me in pre-paid credit cards which kind of defeats the whole object of the rule they put in place to begin with.

I guess, Other than the way i stated above, Im kinda screwed with paypal. Anyone have suggestions for another provider of the same kind of service?

**JPaul** · 08-18-2007, 03:41 PM

Originally Posted by Luke_marlow

Why do I need to provide additional information about my account?

We require additional information about your account for the following reason(s):

# 15 Aug. 2007: You have received £4,500.00 GBP or more in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than the set limit in total payments. These steps need to be completed within 180 days to comply with this regulation.

Anti-Laundering is a joke, An average of £43 a week really isnt worth laundering

They really should focus on the people with business's more. After all, 95% of laundering or more is funded by business's?

It's called "smurfing", rather than laundering large sums of cash thro' single accounts you launder smaller sums thro' loads of different accounts.

Your figure of 95% is just something you plucked out of the air presumably. It is highly unlikely that a business would launder large sums of cash thro' a paypal account. It is more likely that criminals would use a lot of smaller personal accounts. Make payments to them (known as placement) move that money on elsewhere (known as layering) then ultimately use it to pay things, for example mortgages or other loans (known as integration). The point is you start off with dirty money and end up with a clean asset.

The reason for setting limits is so that they are low enough to make it difficult for launderers to manage and high enough for them to be practical for people to use.

The reason they ask for the additional information is known as the "know your customer" principle. Where they are obliged to ensure that you are a real person and not a fictional character used in the laundering process.