You open your inbox and see an email purportedly from Paypal warning you that your account has been limited. A limited Paypal account? Oh no!
If you won’t be able to lift the limit, all funds in your account will be stuck there, meaning you can’t spend or withdraw them!
So to solve this problem, you should just click the link in the email, right?
A few minutes ago, I cleaned up my inbox and found the following warning email from “eBay” threatening me that my “eBay account has been suspended.”
A recent discussion in the PMT Forum is about the issue of Paypal automatically upgrading Personal Accounts to Premier/Business status if more than $500 is received in one month.
According to sources, Paypal’s newest rule is that when a user receives more than the $500 receiving limit per month, the Personal Account is automatically upgraded to Premier or Business Account.
A Pinoy Money Talk (PMT) member emailed me yesterday to ask whether a Paypal transaction she is planning to enter into is a scam or not.
Apparently, some guy supposedly from the UK contacted her asking help to transfer Paypal funds. The guy claims he plans to visit the Philippines and needs help moving funds to the country.
This should already raise a red flag. Never, ever agree to such transactions because you may unwittingly be a conspirator to money laundering. A suspiciously large amount being withdrawn to a Philippine bank account raises the bank’s alarm and if you could not properly explain how you got the amount and why you are transferring money, you may be charged under the country’s Anti-Money Laundering Law.
Paypal users in the Philippines rejoiced when Paypal started allowing the direct withdrawal of funds to bank accounts. However, those who initiated a withdrawal before this feature was offered have nothing to be happy about.
Some of them have reported that their withdrawal transactions are still pending after 3 weeks.
Now that PayPal is offering more and more features to users from the Philippines — the latest of which is the withdraw to bank account feature — a lot of people are wondering what will be offered next.
Update: We have received reports that UnionBank has already disallowed the use of “8400” as EXPUSE Number. A few members have said that inputting an incorrect EXPUSE number several times canleads to a Limited PayPal account.
Be warned. Better contact UnionBank to get the EXPUSE number so as not to risk your account.
As of October 2007, the previous “Send-Only” PayPal Philippines accounts have been upgraded to “Send-Receive-Withdraw” status, meaning, PayPal users in the Philippines can now send, receive AND withdraw PayPal funds.
With this feature, can now directly withdraw Paypal funds to your bank account, credit card or debit card.
