So many PayPal users actually wonder the PayPal sending limit they are allowed in each transaction. Paypal is one of the world’s largest online payment systems in the world that allows individuals as well as small businesses to send and receive payments to family and friends as well as transact business and receive payment throughout the world. Like any other payment platform, Paypal has its ‘does’ and ‘don’t’ when it comes to the transfer limit you are allowed to make.
To successfully use the PayPal portal for your transfer needs, there are things you have to know and I am here to put you through all that you need to know. Just keep reading to have all your questions answered.
What is Paypal Transfer Limit?
When you first open a PayPal standard account or a business account, you will be given a Paypal withdrawal limit. This is a Paypal transfer limit which restricts the amount of money you can send during a business day or during the month. The Paypal maximum limit depends on several criteria, and we would be showing you the criteria limits of a Paypal transfer.
Criteria of Paypal Transfer Limit
As earlier said, the Paypal maximum limit depends on several criteria, and here they are:
The limits on the amount you can send in a single payment with Paypal, depends on whether you have a verified or an unverified account.
With a verified account, there’s actually no limit on the total amount of money you can send from your account. you are allowed to send up to $60,000, but may be limited to $10,000 in a single transaction (Now this amount can vary, though, depending on your currency).
With an unverified account, the limit to what you can transfer will vary.
See Your PayPal Sending Limit
In order to see your sending limit do this:
- Log into your Paypal account
- Tap on ‘My Account’ at the top of the page.
- Tap on ‘View Limit’ next to your PayPal balance.
If you need to send more money than your sending limit allows, you can lift your sending limit by linking your bank account or credit card to your PayPal account.
How to Lift Your Sending Limit
The first step in lifting your sending limit is to:
- Sign in to your PayPal account
- Tap on ‘My Account’ at the top of the pages
- On the Overview page, tap on ‘View Limits’ close to your Paypal balance
- Tap on ‘Lift Limits’
- Choose how you want to lift your sending limits and go through with the directions.
After clicking on ‘Lift Limits’ and choosing how you want to lift your sending limits if linking your bank account is one of the ‘how’ here’s is how to link it:
How to Link PayPal to a Valid Bank Account
Below is how to link PayPal to a valid bank account.
- Visit your PayPal account homepage, and fill out your email address and password, and tap on ‘Log In’.
- Beneath ‘My Account’, tap the ‘Profile’ button to access a drop-down menu. Then click on ‘Add /Edit Bank Account’.
- Key in your bank account details, including the bank location, bank name, routing number, account number, and the name that is listed on the account, and click on ‘Continue’. Paypal will then make two small deposits from your PayPal account into your bank account and will send you a verification email once the deposits have been made, basically within two or three business days.
- Find the two small PayPal deposits in your bank account by accessing your bank statements or finding the deposits via online banking. Sign back into your PayPal account, and key in these deposit amounts. Once PayPal gets this information, it will increase your PayPal transfer limit.
Above is how to link PayPal to a valid bank account.
How to Link PayPal to a Valid Credit or Debit Card
If the option you want to use in lifting your sending limit is through linking a valid credit card or debit card, here is how to link it:
- Visit your PayPal account home page, and fill out your email address and password, and click on ‘Log In’.
- Tap on ‘Wallet’ at the top of the page
- Tap on the ‘Link a payment method’ option and select either a debit card or a credit card.
- Key in the account details for your credit card or debit card, and tap on ‘Submit’. Your PayPal maximum will not increase until after PayPal has confirmed the credit card or debit card by making a small charge to that card. The charge will be displayed with a four-digit code on your credit card statement, or on your online banking account, however, it may take two to three business days. Then PayPal will send you a verification email as soon as the deposits have been made.
- Sign in to your PayPal account, and tap on ‘Wallet’, at the top of the page
- Tap on ‘Link a payment method’ and select the debit card or credit card that is listed under the tab.
- Key in the four-digit code, and tap on ‘Submit’. Once the system has accepted the code, your PayPal transfer limit will be higher.
Beware of any request that asks you to submit personal information to increase your PayPal withdrawal limit. Paypal will never send these types of emails, and will never ask you to enter your personal information.
If you want to lift your sending limits, you can use the steps that i have outlined above and you will be good to go.