Question
http://www2.ebay.com/aw/marketing.shtml
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>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.
Regards,
eBay <HR></BLOCKQUOTE>
Also, I just noticed the Payments (Sending, Receiving, and Withdrawals) Policy in the User Agreement was modified on January 8, 2004. I think the section under Withdrawals has changed but I'm not sure. Does anyone know what sections on this page were modified?
http://www.paypal.com/cgi-bin/webscr...yments-outside
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Withdrawals.
IV. U.S. Users. In order to withdraw funds that PayPal is holding in custody for you, you must confirm the email address that you registered by responding to a message that PayPal will send to that address when you have completed registration, and you must register a bank account or credit card with PayPal. New PayPal Users who signed up for a PayPal account after November 14, 2002 are required to complete two out of three authentication steps (confirm bank account, enter Expanded Use Number, confirm Social Security Number) in order to withdraw more than $500 per month. In addition, Users who signed up for a PayPal account on or before November 14, 2002 will be required to complete two of the three authentication steps described above in order to withdraw more than $500 per month for the first 120 days. Some accounts, at PayPal's discretion, may have this limit even after 120 days. Some accounts, at PayPal's discretion, may have lower limits until the authentication steps have been completed. Account limits, if any, can be viewed from the "View Limits" link on the Account Overview page. For fraud purposes, PayPal reserves the right to review large withdrawals before releasing the funds to you.
You may withdraw funds by direct deposit into your bank account or by physical check. To cover the cost of processing checks, PayPal charges $1.50 per check withdrawal. If a check is not cashed after 180 days from the date it was issued, the funds (minus the fee) will be returned to your PayPal account. Check withdrawals will not be sent to P.O. Box addresses. In addition, check withdrawals will only be sent to a Confirmed Address, unless you are Verified (as described in Section III.1 above), in which case you may choose any street address. If you would like a check withdrawal to an address that does not match these rules, you must contact Customer Service and produce appropriate documentation as determined by PayPal before a check will be sent to the requested address. <HR></BLOCKQUOTE>
Blanche
Answer
They changed the Withdrawals section to say that they are no longer allowing themselves to debit your linked checking account for any money that they think you owe them (e.g., to reclaim funds lost due to a chargeback and the user's account had a 0 balance).
Answer
Thanks Bill. They'll still go after it in another way. Can you say "COLLECTION AGENCY"? LOL
Blanche