Paypal putting on the squeeze..

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?

Quote:
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?

I see the same thing that Mark does under "Limits". What a drag. I have a bunch of things to sell that are a little too specialized for Craigslist.