I love Paypal and I have never had issues with it, but I've noticed that there is a limit to what you can receive (and pay?) via PayPal, my account keeps saying that I can receive $xxx more and after that I need to confirm my account with a credit card. Why do they need my credit card for? I find this suspicious... Also, I know that some people are charged commissions on transactions, is there a clear rule for when these are charged?
I don't know about the commissions charged maybe someone else will have the answer. The reasons why you have to link your credit card are quite simple and straight-forward: After you add a credit/debit card, you'll have to verify it. Paypal generates a certain code which appears in your card statement. Entering this code on the paypal website confirms that you are who you claim to be. It works two ways. Doing so secures your account. No one can withdraw/spend money from your account without your authorization and also prevents 'scammy' activities because since you use a real identity you could be tracked down easily and dealt with. . . Log In
OK, thank you for the explanation Denis. I've been using Paypal since June last year if I am not mistaken and so far there was no need of putting my credit card information. I have a friend that already put his data there with no problems, so when the time comes I will do it too. But not before!
For me the limit was 500 dollars, but I quit it. I linked to my bank account, and now I have not limit. Its easier
My PayPal account is linked to my bank account, I always withdraw my money to my bank, the thing is they want me to add a credit card number. I've heard that I will have no problems with that, but it's strange why they need that even so.
I've been with PayPal for over five years and so far I have not encountered any problems with them. I give them the info they need, I hook up my financial accounts, they process my transactions and all is good between us. PayPal just needs to know that you're not trying to use them to do any type of fishy business, but once you've linked your bank and credit card with them, the limitations will disappear...well until if you start getting way too much money in there where at their sole discretion, they could limit your account and investigate.
OK, that is good feedback to hear TPhoenix. That will never be my case, I just have a few dollars there and when I think it's too much I pull them to my bank account, it's rare for me to pay with PayPal.
It's usually just to verify your information. If your bank account is already attached, then you likely have a debit card for that account. You should be able to use that card to shut up their requests.
Getting the account "verified" should release the limits on it. I am not in the US, but I gather some of the reason for the limits is to reduce money laundering and to allow the taxman a way of identifying those earning a big income through ebay/paypal. Commissions are charged on certain types of transactions. Depending on the was it is set up it may be the sender or the receiver who pays the amount. In spite of all the negative press, Paypal is providing a service and isn't there to do it for free. An individual transaction should only be charged once. If you receive a payment one party will be charged the fee. If you then send it to your bank, I believe it is usually free unless your bank hits you a second time.
Every single of my transactions on PayPal so far has been free and I haven't got a bad experience, so that is why I consider PayPal great. I am aware there are some complains, but luckily I never had problems nor I know someone who had problems with PayPal.
I have a paypal Business account and have the debit Mastercard that goes with it. I can receive unlimited amounts from customers. They do allow me to send and receive free from family and friends, but I do pay a fee on business transactions but I think it is great and quite competitive for what people pay for credit card acceptance.
Yes, I've noticed that charges exist when it's a business transaction, but how does PayPal knows if we are transferring to a friend of to a company, they go and check the beneficiary of the transaction and the type of bank account they have?
I think they check the site that sends you the payment. If it's a site where you are paid to do some online work for example, then they will deduct a free from you. That's what I get to experience.
You're right sidney, it was pretty simple. I just put my credit card number, my credit card online bank got their reference number and I entered it in PayPal, so now I have no limits and I paid nothing. I like PayPal more and more.
In my view, nothing is wrong with PayPal, and nothing about them is suspicious, at this moment,what they need to do if they are serious for customer satisfaction is, in light of the fact that they do not issue their Master cards to persons outside the US-start issuing cards to us, with low fees, thanks! PayPal needs to work with the US government to achieve this, what the US government needs to know is that people from all across the world work online, and not only with US companies, but, we do get paid through PayPal, and that's where the issues arises, we there could be a campaign to this avail that would be great and do wonders! remittance or foreign exchange is a big industry, people will be surprised to know how much great a deal money worked online and brought into a country can do for the economy of that country. Think about it.
I've realized that, PayPal has been working fine since I have an account over one year now. I never leave much money there though, I always transfer it to my bank account because I've heard that sometimes accounts with too much money get blocked?
