Question about EU limit and PayPal

[taerese]

I have received £1800 on a PayPal account but I would like to close the account before the EU limit is reached because I do not want to risk verifying the account.

I have a couple of questions.

Is the limit £1650 limit or £2300?

If I close the ebay account or stop selling with it in the meantime and return after say a year from now to it, would the counter starts afresh or will it continue to count as have received £1800 already, since no money has entered it for at least a year?

Thanks in advance.

[james_112233]

If they request docs, you can't return back to the account in a years time and it won't reset. You need to stop selling before they request docs.

Alternatively if you have been selling low risk items get some docs made up and submit them. Low risk item sellers regularly pass the EU verification. I did.

[planet]

You have received €1,800 or more in total payments to your PayPal account in this calendar year and are therefore approaching our annual receiving limit of €2,500. PayPal is required by law to comply with European Union Anti-Money Laundering....

[JamesNorth101]

Originally Posted by taerese

I have received £1800 on a PayPal account but I would like to close the account before the EU limit is reached because I do not want to risk verifying the account.

I have a couple of questions.

Is the limit £1650 limit or £2300?

If I close the ebay account or stop selling with it in the meantime and return after say a year from now to it, would the counter starts afresh or will it continue to count as have received £1800 already, since no money has entered it for at least a year?

Thanks in advance.

The hard limit is €2500, which is usually £2250 to £2300

This is the point at which you cannot use the account for anything further until the documents have been provided.

The £1650 limit starts a 180 day count down by which time you must provide the documents as well. When you go over that £1650 limit the timer is started and will not reset.

[Fingersburnt]

Originally Posted by JamesNorth101

The hard limit is €2500, which is usually £2250 to £2300

This is the point at which you cannot use the account for anything further until the documents have been provided.

The £1650 limit starts a 180 day count down by which time you must provide the documents as well. When you go over that £1650 limit the timer is started and will not reset.

Does this apply to all new UK paypal accounts? Excuse my ignorance please, new to this and trying to learn as quickly as possible.