Paypal has all these limits and restrictions when it comes to getting your money is it the same with merchant accounts or how does that work?
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processing limits
Paypal has all these limits and restrictions when it comes to getting your money is it the same with merchant accounts or how does that work?
The merchant account I got had me provide the limits I needed on my application so basically I set the limits that I need and if I have to increase them I can do that as well, have all ready had to do so twice because I have had more sales then expected. I am sore different providers have different rules but this is how it worked for me with merchantinc.
some providers will limit you to certain amounts or number of transactions per month so look for a company where you set your own limits. You can not run a business when someone else tells you how much money you can process. And another thing you need to look for are when companies charge a higher % for transactions that are over your limits.
when it comes to getting your money with a merchant account the payments are usually deposited right in to your bank account, there is no middle account that holds your money like paypal
never had a problem with getting my money since I switched to my merchant account. With paypal I had a $500 monthly limit which was total bull. And they constantly froze my account. For anyone trying to run a legit business paypal will ruin all your dreams of ever being successful.
I don't understand why I am only allowed to transfer $500/month from paypal to my bank account, I have substantially more in my paypal account and now paypal is telling me that I can't have access to that money. What is that all about?
that is all about paypal earning interest in the money that they are holding in your paypal account and this is the exact reason why paypal sucks. They control YOUR money. How is that right?????Originally Posted by Dr. Evil
People this is one of the many reasons no one should use PayPal. Paypal is only good for one thing and that is making paypal more money.
any company that has pre set limits instead of catering to your needs is not going to work. Obviously anyone processing credit card payments is hoping for a ton of sales but what's the point when paypal limits you to a certain amount. Look for a company when you fill out the limits you need when applying. This way you don't have to worry about having too many sales which should never be a worry to begin with
Paypal never informed me of my limits and I had no idea anything like that even existed until I got an email telling me I had exceeded my limits and they would be holding my funds for 180 days.
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