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limits after £1900 uk pp
 

Can someone explain what happens when you pass remove the £1900 limits on uk pp , is there any other limits you need to be aware of , 5 k or possible 10 k for docs r information or 25k for tax info and ni numbers
etc
looking to hear from you soon
regards

Re: limits after £1900 uk pp
 

No the receiving limits get removed completely.

But you can still be limited for any reason with paypal..

Re: limits after £1900 uk pp
 

Always have backups going darryl

Re: limits after £1900 uk pp
 

Agree with Bunneh, I've got a long standing account which only ever needed the £1900 limit removing, then it's been fine.

Copied from another website, explains it quite well;

"Companies involved in the money transfer business do have to keep detailed records, and if asked for by HMRC, these records must be handed over to them, but unless the company concerned suspects that something dodgy is going on, they don't have to inform anyone.
If £1900 was a fixed limit, then just about everyone with a bank account would automatically have all of their details given over to a "'governing body"

There is a figure of £10,000 over which the financial company can ask for proof of how this money was obtained, and if they are satisfied with the answer then they still don't have to inform HMRC.

There is also a requirement for financial companies to show that they took "due diligance" in ensuring that the transactions and the people concerned were legitimate."

Re: limits after £1900 uk pp
 

Thanks guys !

Re: limits after £1900 uk pp
 

yes mate i removed limits from my account
i made £5k in a month and got limited again for business info, suppliers info, business model....blabla

you are never sure.