posted on January 13, 2004 04:40:10 AM newFrom the ebay announcement board
***PayPal Policy Update: Personal Account Limits***
Date: 01/12/04 Time: 10:34:55 AM PST
PayPal is introducing a new policy around the use of PayPal Personal Accounts. Effective February 12, 2004 the amount of money that a Personal Account will be able to receive will be limited to $1,000.00 USD per month. Therefore, only payments received from eBay or website sales will count towards the receiving limit.
Receiving limits will be reset each month on the anniversary of the date that the PayPal account was opened. For example, if you signed up for your PayPal account on August 15, 2002, your receiving limit will be reset on the 15th of each month thereafter. If you receive a payment once the limit has been reached, you will be given the opportunity to accept the payment and upgrade to a Premier Account, or to deny the payment.
This limit applies only to the amount of money you can receive. It does not impact the amount of money you can send. To check your receiving limit after February 12, 2004, log in to your PayPal account and click on the View Limits link on the account overview page.
Get the most out of your PayPal account:
Use your Personal Account for personal matters – Your Personal Account is perfect for sending money to friends and relatives, splitting a restaurant tab, and purchasing items wherever PayPal is accepted.
If you sell online, you should use a Business or Premier Account – Business and Premier Accounts enable you to accept credit card payments and receive Seller Protection on qualifying transactions. Eligible Premier and Business Account sellers are also able to offer PayPal Buyer Protection on their eBay listings. Having the PayPal Buyer Protection shield on your listings will enable you to attract more buyers.
To learn more about this policy update or the accounts and services available from PayPal, please visit www.paypal.com.
posted on January 13, 2004 06:29:00 AM new
Seems long overdue, doesn't it??!!
Extremely generous of PayPal with the $1000/month limit! I would have expected a $250/month limit!
Didn't it used to be around $100 about 2 years ago??
PayPal (love it or hate it) is a BUSINESS providing a BUSINESS SERVICE to online auctioneers & their BUSINESSES -- I've never understood the gymnastics some folks employ to avoid their fees!
Of all the problems with PayPal, the FEES are probably the MOST MINOR -- with the DEBIT CARD combined with PP-PREFERRED AUCTION LISTINGS, the fees are extremely MODEST!
A more daunting future problem with PP is my concern that, now that they are a feeBay company, they are moving ever closer to the former ShrillPoint & ShrillPoint's terrible policies!
The SELLERS PROTECTION POLICY is now basically an INSULTING SHAM, and I forsee major CHARGEBACK SNAFUs in the near FUTURE -- laugh & heap scorn NOW on Ralphie & I over this, but, come SPRING (or there-abouts), I think there's gonna be a real UPHEAVEL amongst us PP users
posted on January 13, 2004 06:35:56 AM new this cant be from ebay or paypal.read it again!
Actually it was posted on the PayPal last friday. If you have a PayPal account logon to it and look at the "Policy Updates."
Personal Account Receiving Limits Notice Date: January 8, 2004 Effective Date: February 13, 2004 Starting on February 13, 2003, PayPal will begin capping the amount Personal account holders in the U.S., U.K., and Canada are able to receive per month. The cap will be the equivalent of $1,000 USD, based on the Primary Currency of the account. In addition, users will no longer be allowed to split payments between Personal and Premier/Business accounts. Only ecommerce payments received from eBay, auction, or website sales will count towards the receiving limit.
Here's another change they made last friday also.
User Agreement Update Notice Date: January 8, 2004 Effective Date: January 8, 2004 Updated main User Agreement and Payments Policy to remove provision which permitted debiting of bank accounts to recover money owed to PayPal.
posted on January 13, 2004 07:47:21 AM new
see,the official paypal announcement is written in much better english.
i agree with tom,1000 dollars limit is quite generous.for those of us who have premier or business account,we have to do 1k or more business with paypal per month to qualify for a lower discount rate 2.2% vs 2.9%
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 13, 2004 08:57:48 AM new
So what do you want, a free ride?
"If you believe you can tell me what to think, I believe I can tell you where to go. Not all of us are sheep....."
posted on January 13, 2004 09:02:14 AM new
Why do powersellers have any more benefits than others. If your a powerseller you need a business account....I am not a powerseller and I have a business account why should I pay for a power seller. I am now going to change to a personal account. I don't even make half that amount.
posted on January 13, 2004 09:06:11 AM new
Wow! Under those guidelines, I could save myself a lot of money by downgrading to a personal account.
I am a power seller and I don't receive that much in PP payments. I think they should have set it much much lower. Maybe by numbers of transactions and not dollar amount. I did what was requested years ago and upgraded to a premier account and have always hated the fact others are getting away with cheating the system. (I know all you who are getting away with it will lash out at me over that, but that's ok, it's just my personal opinion which has never meant much)
Now, it looks like they can continue to do so forever.
posted on January 13, 2004 09:39:08 AM new
Stopwhining: I didn't notice, reading the announcement fairly fast, any grammatical errors in it. What are they?
Does anyone know if I can downgrade to a personal account after having used the premier account for a couple of years?
___________________________________
"I have resolved to allow my friends their peculiarities." -- Samuel Johnson
posted on January 13, 2004 09:59:56 AM new
roadsmith,
it is not the grammar,it is the way it is explained.
i wont be surprised the next step is for paypal to say-try personal account for 3 months,you like it,you upgrade!!unless your aunt in montana is sending you 20 dollars happy birthday money each year.a power seller on ebay should upgrade to business or premier account,a power seller on ebay is a business person.
why cant you bury paypal cost in your shipping and handling fee?
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 13, 2004 10:04:03 AM new
Although I am not thrilled with paying a fee to accept PayPal payments (I have a Premier account), but no matter what service you use to accept CC and eCheck payments, you have to pay someone.
Exactly, stopwhining - I have an allowance worked into my handling for PP fees - and have never received a complaint on my s/h fees.
I look at it as just a business expense - the more PP I receive, the more money I make
__________________________________
"I have neither the time nor the inclination to explain myself to the people who sleep under the very blanket of freedom I provide, and then question the manner in which I provide it. I'd rather you just said 'thank you' and went on your way." - A Few Good Men
posted on January 13, 2004 11:14:44 AM new
I don't mind paying Paypal a fee for their services, but I'm not going to tolerate Paypal chargebacks. I follow the Seller Protection Policy to the letter and if I get a chargeback, I'm out of there.
posted on January 13, 2004 11:21:55 AM new
if your bidder uses a fraudulent credit card,there is no seller protection.
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 13, 2004 11:26:02 AM new
I thought that with a personal account you couldn't accept credit card transactions or a PP debit card. Or, am I wrong on that? If so, downgrading would do me no good at all. I get more cc transactions that e-check transactions anyway. And I use my PP debit card all the time.
posted on January 13, 2004 11:49:10 AM new
I really don't see how it is such a bad thing. I run a business and use a Paypal business account. Just as I have a merchant account. I pay fees on both and have the fear of chargebacks and fees on both.
posted on January 13, 2004 11:58:52 AM new
me too,i have a merchant account and i pay for its service every month.
personal account does you no good if your customers all want to use their credit card to pay you.
if you tell them they cant use their credit card,and they have no cash to spare,they will just drag their heels sending you a check or money order.
it is really a business decision,you want to get paid fast and move on or you want to wait for slow mail .
or you can send them to bidpay and split the fee with them.
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 13, 2004 01:53:08 PM new
I don't like fees either, but I accept them. Paypal is in line with my merchant account, and I pay a monthly fee for that...I would rather just accept a paypal payment than try to talk someone who knows nothing about it and they want to pay with a credit card instead of cash in their account. That seems like a nightmare to deal with bounced payments...
posted on January 13, 2004 02:00:40 PM new
Stop,
I copied and pasted directly from the Ebay announcement board. Go read it for yourself, then believe it.
posted on January 13, 2004 02:11:20 PM new
okay,so it must be written by some indian then
-sig file -------the lobster in the boiling pot of water who tries to prevent the others from climbing out.
posted on January 13, 2004 02:46:34 PM new
Tom:
What the one hundred dollar limit two years ago was, was the amount you could receive for CC payments without being charged. It was connected to a personal account. It didn't last too long.
This was offered right after the "always free" PayPal decided to charge for their services.
As for free loading by having a personal account, well no one asked for it, it was offered & any who chose to use it could,
there is nothing wrong with that & it was not cheating the system. It was available to all.
It was a good thing for sellers that mostly sold items under 10.00
Many B&M stores will not accept a CC for sales under 10.00
posted on January 13, 2004 04:33:34 PM new
Roadsmsmith, you should be able to 'downgrade' with no problem. Just wont be able to take over 1,000 a month in paypal payments and your debit card is bye-bye.
posted on January 13, 2004 04:46:56 PM new
hmmm. thats a set back for this one recent seller I bought a digital camera off from.
he request bank payment via paypal ONLY. and that was a bit annoying because the account I linked paypal do doesn't really hold any sort of cash. I usually trasnfer it out right away.
so I had to go and deposit a few bills in there...
he's had over hundreds of transactions through his personal account. saving lots of money on fees I suppose.
this transaction saved him 7 bucks. he's a powerseller too.
I guess some people do go out of their way to save money from paypal.
it adds up, but its such a hassle.
I see more pros in accepting credit card and taking the fees than cons.
I think the gains outweight the risk and fees. but eh.
and yeah, I'm surprised they give a 1,000 recieving limit. Wonder when they'll do away with it all together.
posted on January 13, 2004 07:26:38 PM new
<<<Wonder when they'll do away with it all together.>>> I wonder when the State of California is going to look into the operations of this outfit and bring them under the same strict regulation that governs banks and other financial institutions.
The light at the end of the tunnel will turn out to be an oncoming train.
posted on January 13, 2004 10:03:59 PM new
Well if this is true and I have not checked lately but when I signed up I got payments and then they came out with the 6 or 6 hundred $ I think limit for recieved money with no charges and if you went over this in 6 months then you had to sign up for a premier or business account so I had to sign up within one month. RATS. NOW that ebay has taken over them they raise that limit?????? I am depressed. I never reach that amount usually and I am paying fees. BUT I do get a debit card and get.5percent cash back on all purchases with the card and on my ebay fees. What a delima I can't believe it is $1000.00 a month now. Guess I should pay more attention but of course they are not going to tell us of the changes that would benefit us I guess if we are already premier members.
I am skepptible that this is even so. darn!
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