Mmm.. I just accessed my Paypal account for the first time in a couple of months, and noticed that they've added a new "feature" sometime recently:

It can no longer receive more than about US$500 in any month. Amounts over that limit are not available until the account is upgraded to a 3%-fee based account.

Yuck. The inevitable sucks.

Cheers

Hasn't it always been like this? Maybe not $500 (probably not) but I thought I remember some type of cap unless you had a premier account (which gets dinged 3% regardless of the source of funds). I still keep two accounts, one "normal" and one premier.

For people using it for business, this change doesn't make a difference. And I'm sure Paypal wouldn't care either way if they lost a larege percentage of their free (money receiving) users. eBay/PayPal are making ludicrous money right now. An increase of a few cents on some "features" translates to double or triple-digit MILLIONS for the year.

Bruno

No, it hasn't been like this for all that long. You're likely thinking of the "credit card" restriction -- "personal" accounts cannot receive any credit card payments, as that capability is reserved for the 3% fee (even for cash!) accounts.

And even that feature hasn't always been there, up until perhaps 3 years ago.

Cheers

AIUI there was a cap on how much you could take out per month, not pay in. Rob Schofield got well dinged by this on the Amersfoort 04 contributions.

Peter

Strange... I just recieved a grand into and pulled 900 out off my personal no fee account not more than a week ago... maybe it's a non-US thing?

Nope, I've taken £800 out of my account recently, there is no charge for withdrawing £50 or more, 25p for under £50 - actually that is much cheaper now, it used to be £1 for for a much larger minimum.

Gareth

I have the same $500 limit on my U.S. PayPal account. But I don't mind that since this "feature" lured me into using PayPal's debit card which pays back 1.5% on all the purchases. Hell, this is better than my bank's savings account. Soon the money transfer will be going in opposite direction than what is usually done with PayPal.

Yeap, you guys are right. I just noticed the limits link... $500. Did they JUST implement this? LIke I said, I just took in a grand on Jan. 22, 2005.