Forum

How much is Maximum of receiving limit in UK bank account?
 

Hi guys I would like to know how much would it be maximum amount I can receive in to my bank account through my PayPal annually? Is there any limits in it? Because I withdraw everyday funds to my normal bank account using my PayPal so just wondering should upgrade this bank account to business account?
Please kindly share your experience with me and I would appreciate it very much.

Thank you.

Re: How much is Maximum of receiving limit in UK bank account?
 

There is no exact number really

If you are getting anything over say £7/8k in a year though from PayPal then I would personally use a business bank account

Re: How much is Maximum of receiving limit in UK bank account?
 

Many thanks for your comment, you mean £7000 or £70000? because I have already let my bank knows that I am doing this ebay business and they said okay but did not suggest me to open business account. by the way is that long process opening an business account? please advice me as I am new to eBay and I would much appreciate it.

Thank you

Re: How much is Maximum of receiving limit in UK bank account?
 

7K = £7,000

Again that is my personal threshold when I would look to upgrade to a business bank account

If your bank has told you that you don't need to then it may be a good idea to ask them when they would advise that you do upgrade to a business bank account

Re: How much is Maximum of receiving limit in UK bank account?
 

oh yeah thank you very much, this £7000 monthly or annually? and yes when told them about this ebay business they just said fine and did not suggest me to upgrade business account though.

By the way upgrading business bank account is a long process? would you mind for telling me the process please i.e the documents what I need?