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Invisible ceiling with UK accounts?
 

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.

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 .


:pop2:

Thx GB!

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

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.

Thankfully, would make stealthing a fair bit trickier.

Avoid the LTD big time. Avoid that.

:juggle:

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

:juggle:

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

:mod:

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.

Did you read the posts?