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  #1  
Old 01-06-2015
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Default How much to transfer to the bank at once?

New year, and new limits. Soon I will a bit more then I feel safe keeping in my PayPal account at one time..

In the past I have deposited >$1500 in one transfer from my business PP account to my personal BOA checking account.

But would it be safe to do say $5,000 in one transfer?

If it would not be safe, how much per transfer per time frame?

Thanks
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Old 01-06-2015
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Default Re: How much to transfer to the bank at once?

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Originally Posted by nivo View Post
New year, and new limits. Soon I will a bit more then I feel safe keeping in my PayPal account at one time..

In the past I have deposited >$1500 in one transfer from my business PP account to my personal BOA checking account.

But would it be safe to do say $5,000 in one transfer?

If it would not be safe, how much per transfer per time frame?

Thanks
You would want to build up to withdrawing that much a little slower instead of going from $1500 up to $5000 instantly, that way you don't attract to much attention to your account and it looks more like a natural increase over time rather than a sudden leap, also are you leaving some money in rather than withdrawing it all?
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Old 01-06-2015
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Default Re: How much to transfer to the bank at once?

There would still be money in the account, but I try not to keep more then a few $100 at a time depending what I am doing.

I did forget to mention that the account (BOA wise) is new - as my old one attached was bought out by a different bank..

But does anyone know if certain transfer amounts require special attention, like I know to cash a $10k check needs paperwork to be filed. Maybe there would be an easier way to move the money to a safer location then paypal while I withdraw.

Thanks once again.
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Old 01-06-2015
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Default Re: How much to transfer to the bank at once?

It's all about slowly increasing the amount. Make no sudden large withdraws and you shouldn't have any problems. Build a predictable pattern and you should cruise under radar
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Old 01-06-2015
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Default Re: How much to transfer to the bank at once?

Do not make any sudden changed in how you withdraw funds.

Slowly increase over time if you wish to withdraw more
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Old 01-06-2015
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Default Re: How much to transfer to the bank at once?

i would never have $5k in a paypal account to begin with, but thats another subject.

I would transfer it all out slowly over time. Maybe $1350 here, $1600 there, etc.

I wouldnt feel comfortable transfering anything over $2k at a time, but then again I wouldnt let $2k sit in a paypal account.

I honestly wouldn't keep more than about $700 in a paypal account.
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Old 01-07-2015
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Default Re: How much to transfer to the bank at once?

I never keep more than $500 in my paypal account. that is my pain threshold that if PP screws with me that I can afford to lose or wait 180 days for. just take it out in slightly bigger increments like from $1500 to $2000
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Old 01-07-2015
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Default Re: How much to transfer to the bank at once?

Any transfer that size can go through ok. However as others have said its better to transfer smaller amounts. You want to stay under the radar and never have your account flagged for inspection.

A $5000 transfer may well cast eyes upon your account.
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Old 01-07-2015
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Default Re: How much to transfer to the bank at once?

I agree.......less than 2K transfer at a time........and some of you guys are trusting souls......$500, $700? Are you kidding??..........I don't even let them keep $100 for any length of time! lol
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Old 01-07-2015
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Default Re: How much to transfer to the bank at once?

It all depends on how much Ive sold, if I have a lot of recent sales out there, I'll keep a balance for awhile just in case of returns, issues, etc. It varies really.
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Old 01-07-2015
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Default Re: How much to transfer to the bank at once?

Quote:
Originally Posted by aking View Post
i would never have $5k in a paypal account to begin with, but thats another subject.
We all have different situations.
Everyone's sales and situations are unique.
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Old 01-07-2015
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Default Re: How much to transfer to the bank at once?

5k is a big amount - could be a trigger for issue but also depends on how much left in reserve...how strong the account is...if you have done >1500 in the past, why not just repeat that amount? Keep it simple
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