PayPal
Sending limit of $10,000 reached, asked for bank account access

I signed up with PayPal a few years ago, giving them my credit card. I was told that I had a $10,000 spending limit. I have been using the service for small amounts because it is easier than filling out all the information that is required when using a credit card.

I recently tried to send $5500 to a dealer and PayPal sent this response:

"Unfortunately, you've hit your initial PayPal sending limit of $10,000.00 USD. That's why your recent payment was declined.

Your sending limit is the maximum amount of money you can send or use for purchases before you need to become Verified.

How do I get Verified and remove my sending limit?"

This is where it gets interesting. They want access to either my checking or savings account at my bank. They want to take the money directly out of my bank from now on, with nothing about using the credit card anymore. It looks like the $10,000 was an initial amount, and once it is used up they switch to using your bank.

Company: PayPal
Country: USA
Site: paypal.com

  <     >