Re: Sending from 1 paypal to another and filing tax from the other
YEARS AGO,On Paypal forum,there were several precious metal dealers who got their accounts restricted by Paypal.
One is an Australian dealer,totally legit with their own brick and mortar shop and website in Australia,but they also sell on Ebay accepting Paypal.
They have $80K in their Paypal account when Paypal restricted,despite all the inquiries ,Paypal refused to release the fund,it took them 4 months and a lawyer to have the money released.
Without their Paypal account,they cannot sell on Ebay as their Aussie merchant account cannot work with Ebay gateway providers.(BACK THEn,ebay allows sellers to use their own merchant account)
Never find out the reason why,but it is odd for a capital intensive dealer in precious metal business leaving that much money in an account?
Another case is an Israeli metal dealer,Paypal restricted his account and locked up his money as well,I think Paypal wants to be sure he is not dealing in arms deals,you know metal??
So Paypal has to comply with laws on money laundering,anti terrorism ,all illegal activities.
you can read all about Paypal terms and agreement on its site.
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