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large amounts of money transfered between paypal accounts
 

Im planning on borrowing some money for 30 days from my credit card by using paypal to pay an invoice from a friend so he can then withdraw the money to his bank, what i need to know is how likly is either of the paypal accounts get limited and for how long?

both accounts are already fully verified with personal info and had the passport pics sent in the past when they became limited so im planning of sending an ivoice for say 2500 from my friends account then paying it using my account with the credit card attached.

then at a later date refund all payments to get my paypal fees back again

any pitfalls?

Re: large amounts of money transfered between paypal accounts
 

why would you involve paypal? is there no other way, would have thought a cash advance from card is less risky....

the risks are just limitations I suppose.

Re: large amounts of money transfered between paypal accounts
 

If you're not giving paypal their fee.. I can see them finding something wrong with the activity your describing. Even if its perfectly legitimate. Paypal wants to make money, and any large transactions involving thousands of dollars that they ultimately make nothing on will be suspicious, especially if you repeat this. A one time attempt? You might not have an issue, but then again they might freeze your account and demand you contact them. Again, nothing may go wrong and your account may be reinstated, especially if you're willing to talk to paypal about how it was a big misunderstanding or you got ripped off for the money, whatever your story is it better be good to justify what you're doing.

But any transaction that involved paypal that doesn't make them money will be a blip on the radar. The more times you do this the higher the risk of them finding something 'wrong' with your behavior.

Re: large amounts of money transfered between paypal accounts
 

Refunding payments doesnt get all fees back anymore - PP charges these days on refunds :mad2:

Re: large amounts of money transfered between paypal accounts
 

Definetly don't involve pAypal that has limitations all over it, why not do cash advance

Re: large amounts of money transfered between paypal accounts
 

Cash advance would be a much safer option

Re: large amounts of money transfered between paypal accounts
 

Or get an Amex prepaid serve card and add ur credit card as a funding source to load ur card at least with my cap one credit card it goes through like a purchase so I can get cash not pay heavy interest and get 1% cash back on my cash advance

Re: large amounts of money transfered between paypal accounts
 

Thanks

Reason for not using cash advance is becuase of fees, and limits, the card only allows so much of there limits for cash and the rest for purchase i cant max all the cards with cash advance hence why i need to do it in a way that will look like a purchase. barclaycard class any gambling,virtual credit cards,store cards, western union etc, as cash advance now so charge there silly fees,

im only planning on doing this twice from paypal for about 2.5k

i phoned paypal earlyer and they i said as a seller if i refund a payment that was made via a credit card will i still get all of my fees back too and they said yes.

Re: large amounts of money transfered between paypal accounts
 

PP customer service do not know their own policy.

The buyer gets all their money back, but the seller is still charged a fee (all be it small)

Re: large amounts of money transfered between paypal accounts
 

When a trade buyer puts thousands of pounds into my account I want it sent from bank to bank (which is free within the Eurozone) and not via Paypal with their big heap fees.

Re: large amounts of money transfered between paypal accounts
 

Interbank is free...wow, that's special indeed - whole point is to avoid 1) PP fees 2) linking of accounts and 3) limitation + holding of money

Re: large amounts of money transfered between paypal accounts
 

Which bank is offering free money transfers, there is usually a fee for such services even within Eurozone?

Re: large amounts of money transfered between paypal accounts
 

European law states that the fee for transfering money to another bank within the EU cannot be more than it would be to transfer to a bank in ones own country. Bank transfers within the UK and many other EU countries are free. Some banks in UK try to make a change for transferring funds to another EU country but they are obliged to refund it if you make a formal complaint.

I have had many transfers into my bank (Santander) from Spain, France and Switzerland (not in EU) and there was no fee charged.

I transferred some money from my bank to one in Germany. They charged a fee but I made a formal complaint and threatened them with the financial ombudsman and they refunded the fee.

Re: large amounts of money transfered between paypal accounts
 

They can take a nice cut on the currency conversion rate though, so its not totally free.