Invisible ceiling with UK accounts?

[john456]

Hello

I have a couple of stealth accounts in UK that are growing in sales & increasing limits. All of them are stealth/personal accounts type.

Is there a 'limit/treshold' in terms of sales for UK accounts when eBay or Paypal is going to ask for more information like National Health ID, Driver License, statements, etc.? Will I be forced into a business account?

For US accounts, there is the 200/$20.000 threshold when PP asks for SSN/EIN

Is there anything similar for UK accounts? I want to be ready.

Thx
J.

[GreenBean]

Never such a thing as an invisible ceiling.

There is a £1900 anti-money laundering limit.

At present paypal does not ask for the NHI. Simply because that is for health purposes. The ID you mean is the National Insurance Number. ( Two very different matters). Strong objections within the UK have prevented paypal going anywhere with the latter.

When an account is nearing £1650 limit, it may get notice of needing to supply the info to lift limits.

Re-read what you said about your stable of accounts. You may have answered your own question. Ring any bells?
Think outside the box.

Do not confuse yourself with the USA scenario either. paypal may ask for tax info when an account has only taken $5000. This happens if they preceive earnings/items sold may go over the limits. If you are running USA accounts you must grasp that .

[john456]

Thx GB!

Yes I meant National Insurance. My UK knowledge is a little rusty

Originally Posted by GreenBean™

When an account is nearing £1650 limit, it may get notice of needing to supply the info to lift limits.

What is the info they need in that case? Can we sent it under stealth name?


For US, I am going LLC/EIN route + a mix of under limits accounts.

For UK, I am wondering if I need to open a LTD and register as a business once things start to take off. I would prefer not to keep things simple.

[JamesNorth101]

Originally Posted by GreenBean™

The ID you mean is the National Insurance Number. ( Two very different matters). Strong objections within the UK have prevented paypal going anywhere with the latter.

Thankfully, would make stealthing a fair bit trickier.

[GreenBean]

Originally Posted by john456

Thx GB!

Yes I meant National Insurance. My UK knowledge is a little rusty

What is the info they need in that case? Can we sent it under stealth name?


For UK, I am wondering if I need to open a LTD and register as a business once things start to take off. I would prefer not to keep things simple.

Avoid the LTD big time. Avoid that.

[invince]

Is that a sales limit or a limit of the amount of money in Paypal?

[GreenBean]

Originally Posted by invince

Is that a sales limit or a limit of the amount of money in Paypal?

It is a anti- money laundering limit. UK has it. The EU countries have it Australia has it too

It is sales based

[GreenBean]

WARNING PayPal Link

https://cms.paypal.com/us/cgi-bin/?c...ID=ua/AML_full


Above is off the main site. Please read thorough. Any questions please post

[invince]

Because I had it on my AU eBay Stealth, I moved my money away and keep it below 800 AUD all the time and it is still fine...

The e-mail I received from it says:
'Your PayPal account balance is nearing $1000 AUD. When your balance reaches
this amount, we'll need to confirm your identity.'

So I thought this is based on the amount of money you keep in Paypal while for the US 200/$20k is obviously sales based.

I'm interested in knowing about UK too as I also have stealth from UK.

[GreenBean]

Did you read the posts?