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Thread: processing limits

  1. #11
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    Quote Originally Posted by Unregistered View Post
    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.
    sure will, paypal just managed to get me evicted by holding my money making me unable to pay rent for my place of business and unable to pay my suppliers Piece of s%*^ company

  2. #12

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    When you set up a merchant account, you may have a processing limit based on your approval and the type of account they set you up with. Believe it or not, these are put into place to protect you. It's based on your stated monthly volume, so if you are processing at your expected levels, then you won't have a problem. If business picks up and you begin exceeding your processing limit, then you will have to talk to your merchant service provider to have your limit upped. A hard limit will stop your machine from working at the very moment you reach your limit and you will no longer be able to process until the first of the following month.

  3. #13

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    You would be much better off getting a merchant account. You can not run a business if you are only able to pull $500 a month out.

  4. #14

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    They have limits based on how you have verified your account. If it is partial, then you will have a few limits as to how much money you can withdraw among others. So contact them to see what documents they need to verify your account.
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  5. #15
    Join Date
    Mar 2014
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    178

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    Quote Originally Posted by mikelouis View Post
    They have limits based on how you have verified your account. If it is partial, then you will have a few limits as to how much money you can withdraw among others. So contact them to see what documents they need to verify your account.
    Exactly this. There's no point having an account that's going to limit you in any way if you can help it. Contacting them is the best way to get this sorted.

  6. #16

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    Account withdrawl limits can be a good thing in that if you were to have your bank information stolen, it limits the amount that the criminal can take from you. If you need access to more money, I have found that calling the bank or PayPal can help and they will raise your spend limit.

  7. #17

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    Yes the funds are directly deposited into your bank account (no holding in providers bank account) and you will be asked on how much you will process on a monthly basis and per transaction (estimates) That is the amount they will approve you for and you need to increase it or biz is doing really well. You can continue to increase it.

  8. #18

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    The good thing about a real merchant account is that you set your own volumes. They will ask you on the application what you want to set your volumes at and thats what you get approved for!

  9. #19

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    The good thing about a merchant account is the funds go directly to your bank account within a few days. You don't have to worry about will paypal shut down your account because they can't shut down a bank account that is owned by you!

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