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working capital and limited account
 

Hi everyone,
first post for me.

I have two business accounts and 1 personal account.

paypal have just closed one of my business accounts for security reasons! and limited my other 2 accounts as they are linked.
Problem I have is I have a £10k working capital loan in the business account that is now limited, it says I cant send or receive money.
Now I have no problem making the payments towards the working capital but I am worried how I can do this, I am guessing I could transfer money from bank account to paypal account and this will then cover the payments, but not even sure if this will work, but I am most worried about them saying they want it paid back in full now or something! as I can no longer receive payments into the account direct from sales.

Any one else had account limited with working capital in it?
thanks

Re: working capital and limited account
 

Why don't you give them a call?
Adding funds through bank account should be best option

Best to ask them off course they need money so allow you to add funds

Re: working capital and limited account
 

These are your real accounts right?

I would give paypal a call and discuss it directly. See what your options are.

Re: working capital and limited account
 

Yea all my own accounts, just a bit worried about calling them in case they say they want it all back or something as they have closed my other account for safety and security reasons. So they must think I’m a risk.
Getting a bit stressed with it now 🙁

Re: working capital and limited account
 

You can always read the terms and conditions of the loan you signed up to before calling. That should state what happens in situations such as this.

Re: working capital and limited account
 

Terms say it is a trigger breach if pay pal account is closed for any reason which may mean they want working capital back. Just wondered if anyone has had similar experience

Re: working capital and limited account
 

It's much easier to give them call

One thing for sure they want their loan back it's either you pay directly to them or they will pass your details to debt collection agency

Re: working capital and limited account
 

I had this quite a while back, I phoned them repeatedly, refusing to pay a single penny whilst the account was limited permanently, as in my view, they had created the situation themselves by their actions.

They eventually lifted the permanent limitation, and its still going strong even though the working capital was paid off 16 months ago

Re: working capital and limited account
 

Thanks colfor, that is useful to know. I made a bank transfer for £50 to pp and paid that into the working capital, so know I can still at least for the time being anyway pay payments into it.
May give them a call. thanks