Forum Thread

Paypal is possible to receive a lot money without problem

Eleazar137 5 10 October 2, 2016 at 09:22 AM in Finance

Thread Details

Somebody of you have received lot of money from paypal without problem. for example you can receive over $5000 dollars and do not retain the money if the source is legal.

I have paypal account but I've never received so much $5000 dollars. I wonder if there is no problem or something could happen if I get that amount to my paypal.



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Users can send up to $10K in a single transaction with PayPal. However, you may be limited to $500/mth in withdrawals depending on your account type. The bigger issue I would be concerned with is fraud. $5K is a lot of dosh to gamble with on PayPal. I don't know exactly what the circumstances of your transaction are, but I would insist on cash, cashiers check, or money order for a payment this size (and wait until it clears before transferring the goods).
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I send a Nigerian Prince a ton of $ via PayPal and no problem yet Smilie
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My bet is that this is a money laundering scam where you are expected to forward on the money to some other account while keeping 10% or something, and then the 5k deposit turns out to be illegitimate
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Original Poster
Thanks for the answers I will have care with that amount of money for transaction for use other way if is possible.
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I never knew there were limits on it but I guess it makes sense to do this. I use paypal for online transactions so I never have a lot on there. Either way, good to know.
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shouldn't be an issue if it's from a trusted source. i had a caterer pay me $5k+ via paypal years back for some goods i was selling. if you don't trust paypal, then just get a wire. Big Grin
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I know of cases where people wanted to meet their minimum spend on credit cards they applied for, and used paypal to send funds. They sent money using their CCs to family and friends who transferred the funds to their bank account and later withdraw to give back to the sender. There are a lot of cases reported where accounts of the sender and receiver were given warning. Some were not so fortunate where their accounts was immediately frozen for both sender and receiver so their paypal accounts became useless.
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