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Noticed the Patriot Act's effects on PayPal?

I work with PCs and use PayPal to conduct my financial transactions. I recently sold some hardware for $800 and tried to transfer the money into my bank account only to be told I can only move $500 a month due to the Patriot Act. After fuming over this for an hour, I realized the ramifications of my true hobby...high end audio. So now, if I sell my amp, preamp, voltage regulator, etc... in an effort to upgrade my system, I will be affected by The Patriot Act. Has anyone else noticed this? I can only question how much more control we will allow our government into our daily lives before we say enough. I'm still pi$$ed that I can now be pulled over for not wearing my seatbelt...when the seatbelt law was passed, we were told we would NOT get pulled over for this violation. I ask you, what value is there in wearing my seatbelt as I drive to the gas station to buy a carton of cigarettes? I’m not some bleeding heart liberal, but am close to my fill of crap I can take from my government. Am I alone? Will I be investigated for this post?
mdomnick

Showing 2 responses by tvad

tvad
9,467 posts
 
I believe that $500 is the transaction limit on a personal (free) PayPal account. My premier account, which costs ~3% per transaction, does not have a $500 limit.

That's my understanding, too. It's the only reason I upgraded to a Premier Account, and it's the way Paypal encourages users to upgrade (and pay the higher fees...)
tvad
9,467 posts
 
From the Paypal Payment's Policy page:
Personal Account Receiving Limit. If you have a Canadian, U.S., or U.K. Personal account, you are limited to receiving no more than the equivalent of $500.00 USD each month, based on the primary currency of your PayPal account. Only eBay, auction, and Website Payments (e.g. Buy Now Buttons, PayPal Shopping Cart, or Subscriptions payments) will count against your Receiving Limit. The equivalent Receiving Limits are as follows:

Currency of
Primary Balance
Receiving Limit

U.S. Dollars
$500.00 USD

Canadian Dollars
$650.00 CAD

Euros
€400.00 EUR

Pounds Sterling
£250.00 GBP

Yen
¥56,000 JPY

Australian Dollars
$1,250.00 AUD

This $500.00 USD cap is based on the account sign-up date, and is reset each month. Once you have reached your monthly limit, the payment will have a Pending status, and you will need to upgrade to a Premier or Business account to accept the payment. If a payment is Pending based on your having reached your Receiving Limit and your limit is reset, the payment will remain Pending until you have upgraded your account or denied the payment. If you refund a payment, your Receiving Limit will not be reset for the amount of the payment.

The webpage is here under under Section II, subsection 3 "Personal Account Receiving Limit". I could not find any language pertaining to the Patriot Act.
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