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Author Topic: So has PayPal officially bumped the spending limit to 10,000?  (Read 6268 times)

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PaulG

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So has PayPal officially bumped the spending limit to 10,000?
« on: January 08, 2006, 07:08:13 pm »
http://www.paypal.com/cgi-bin/webscr?cmd=_help-ext&eloc=986&loc=933&unique_id=1880&source_page=_home&flow=

This says the limit is still 2,000.  I've done a google search and everyone still seems to be talking about 2,000.

But my limit is now 10,000.  For months I was using my account sparingly (Didn't wanna reach my limit and I'm NOT giving them bank access) and was constantly getting e-mails warning me I was close to my limit.  Then I recently found a good deal on some speakers I wanted and said screw it.  Bought them.  Went to see how many pennies till my account was effectively junk... and I see my spending limit was just over 8,000 left.  Is this just a scam to scare people into adding a bank card (and blinking when they don't), or have they upped the limit for everyone and just not updated their website? I've been curious about this for a while and am just wondering if it's a happy coincidence or BS on PayPal's part.

Sephroth57

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #1 on: January 09, 2006, 12:33:46 pm »
i dunno, when i was selling some stuff on ebay i was forced to add my bank account cause i was receiving over 500$ in 1 transaction so ive had my account on there for a while
"Owens is the ringleader in the ass hat circus"  D K

Stingray

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #2 on: January 09, 2006, 12:35:59 pm »
Only one way to find out. Somebody paypal me $10000 and I'll let you know if it arrives okay.

-S
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This place is dead lately.  Stingray scare everyone off?

farmecologist

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #3 on: January 09, 2006, 01:46:34 pm »
I noticed the same thing.

mr.Curmudgeon

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #4 on: January 09, 2006, 04:11:09 pm »
(Didn't wanna reach my limit and I'm NOT giving them bank access)

Just curious. What's the big fear about giving them bank access?

I did, a while ago, I think so I could accept credit card payment through eBay or whatever. Can't remember why. But I haven't had any trouble.


mrC

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #5 on: January 09, 2006, 05:11:56 pm »
His fear is probably that something might go wrong and they could withrdaw all kinds of money from his bank account.  In reallity what he should do is creat a new bank account with the minimum amount of cash in it and use that to sign up for paypal.  Never ever give them you main bank account where you keep most of your money.  The other fear is that some one might be able to use the information to pull off some sort of identity theft if it leaked out.

I've noticed that they increased the spending limit for credit card funded accounts too.  And I think like a week or two ago they sent me an e-mail informing me that they were raising the limit for all accounts.

PaulG

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #6 on: January 09, 2006, 07:24:16 pm »
His fear is probably that something might go wrong and they could withrdaw all kinds of money from his bank account

Exactly.  I've never had a problem with PayPal, but there's too many horror stories for me to feel comfortable with them.

To the above poster, there's no restrictions on receiving credit card funds on ebay.  You have to update from the basic (Does this still exist? I don't even know), to the premier... but a bank account isn't required.  They just cap your spending limit for "safety" reasons.  Cause, you know, the money that PayPal transfers into my account may somehow be corrupt and illigit.  Hey, PayPal, if the money is corrupt, send me only legit money.  The whole concept is stupid.  Capping the amount of money you can spend that is credit card funded I could see, but capping account balance purchases is just plain stupid.  How could I be commiting fraud when all my money comes from them?

duffjr

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #7 on: January 10, 2006, 04:25:07 am »
horror stories?  they withdraw money from your account without telling you?  doesn't the UK have laws against that?

vibez

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #8 on: January 10, 2006, 10:53:25 am »
horror stories?  they withdraw money from your account without telling you?  doesn't the UK have laws against that?

Yes they do, but since when does the law stop a criminal commiting an act. Sure it might catch them afterwards, but by then it can be too late

Here is my own personal experience with linking a bank account to paypal

http://forum.arcadecontrols.com/index.php?topic=36485.0

duffjr

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #9 on: January 10, 2006, 10:57:57 pm »
don't you get those emails everytime you send money through paypal?  i was under the impression paypal was a scam company for a second. 

vibez

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #10 on: January 11, 2006, 05:14:33 am »
That was partly the problem. I hardly ever use paypal & it was linked in almost redundant email account that I only check once a month at the most. That was the reason they went undetected at 1st. It was only when I checked my bank account that I realised something fishy was going on.

Paypal detected the missue of my account (albeit too late to stop the funds clearing), but of course, they sent an email advising me of the fraud to the email account I never use. DOH!

I've learned quite a bit from this experience.

The final kick in the teeth was that paypal refunded the money into my back account plus my banks fraud department also refunded the money. So I actually ended up getting paid back twice the amount that was stolen.

I've never been fairly good with money & never realised I was paid twice, so I ended up spending all the money, only for the bank to ring me one day & explain they messed up & would be requiring the overpaid amount back by the end of the week  :'( :'( :'(

duffjr

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #11 on: January 13, 2006, 10:25:50 am »
ah, that doublepaying stuff works with insurance a lot of the time.  how long did they wait before asking for a refund on what they issued you?

whatzcrackn

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #12 on: January 17, 2006, 12:06:14 pm »
Only one way to find out. Somebody paypal me $10000 and I'll let you know if it arrives okay.

-S

Funny.  and I will send it right back :angel:

vibez

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #13 on: February 23, 2006, 09:30:09 am »
ah, that doublepaying stuff works with insurance a lot of the time.  how long did they wait before asking for a refund on what they issued you?

Roughly a month I think.

DarkKobold

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Re: So has PayPal officially bumped the spending limit to 10,000?
« Reply #14 on: February 23, 2006, 11:30:01 am »
Actually, you can put an ACH block (no clue what it actually is) to prevent paypal from withdrawing from your account. That makes it a one way transaction.

I have my account set up, so that PayPal deposits the money into my account, and then I take it from that account into another, ASAP. Stupid Paypal ALWAYS wants to withdraw from my paypal account when paying, thus, I ALWAYS have a zero paypal balance. F' Paypal.
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