Paypal euro money laundering limit

[isitworththestress]

You have received €1,800 or more in total payments to your PayPal account in this calendar year and are therefore approaching our annual receiving limit of €2,500. PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than €2,500 in total payments within a calendar year. Please go to the Resolution Centre for more information on what you need to do.

At today's rate of 78p to the euro it works out at 1412.35. Unless paypal use their own rate that i think is different to the normal rate.

If you do use that stay under the radar method I would be careful as markets change but the euro has been bouncing between seventy pence and eighty odd pence for years so the likely hood of it shooting up is not probable but not impossible.

[isitworththestress]

Had to edit but all the text disappears when I do but missed out the part saying could not find the original discussion on this.

[Callidus]

My last projection was this:

2,500.00 EUR = £1,961.80 GBP

Your calculations are £500 off, something cannot be right.

[JamesNorth101]

Rate has been hovering around the £1960 mark +- a few £ for a few weeks now

[GreenBean]

Originally Posted by isitworththestress

At today's rate of 78p to the euro it works out at 1412.35. Unless paypal use their own rate that i think is different to the normal rate.

.

Their exchange rate differs.

[rsot]

Spread sales over multiple accounts

[isitworththestress]

No it is just to keep some older before ID checks existed accounts open. They don't sell a lot but they can get away with selling anything. But they are also linked to another dead account so would not pass the checks.

And I don't want to kill them, as if I sell anywhere else their feedback may come in handy.

[magicnic]

Originally Posted by GreenBean

Their exchange rate differs.

paypal need to show the sterling transaction s in euros as well so we know when the 2500 euro is being reached and also ask paypal to justify their exchange rates!

[screwbay]

if you dont go over the annual money laundering limit, does this reset the following year?

in effect allowing you to use the pp account without it being limited requiring id?

[JamesNorth101]

Originally Posted by screwbay

if you dont go over the annual money laundering limit, does this reset the following year?

in effect allowing you to use the pp account without it being limited requiring id?

You need to keep under the £1650 trigger

[screwbay]

Originally Posted by JamesNorth101

You need to keep under the £1650 trigger

can you still withdraw to bank account?

[wired]

Under £1950 but over £1650 triggers, as mine went down after hitting this point.

So ideally you need to stay under £1650.

[wired]

Originally Posted by screwbay

can you still withdraw to bank account?

You can up until £1960, but you are being 'watched' after £1650 and those withdrawals might make the account managers look into your account.

[screwbay]

Originally Posted by wired

You can up until £1960, but you are being 'watched' after £1650 and those withdrawals might make the account managers look into your account.

so are you saying withdrawals need to be done carefully etc?

[wired]

Originally Posted by screwbay

so are you saying withdrawals need to be done carefully etc?

Of course.

[screwbay]

Originally Posted by wired

Of course.

ok.

but there is still a risk of getting limited? even if ive not passed the safetyzone of £1600?

[wired]

Originally Posted by screwbay

ok.

but there is still a risk of getting limited? even if ive not passed the safetyzone of £1600?

I dont know that bit. All I know is I was limited after £1600 but before £1950, on both accounts.

If you are through the 21 day holds, then you may be ok pre £1600.