Large Amounts of Money?

[purplemonkey061]

Hello!

I had a question regarding sending large amounts of money through PayPal. I have a family friend overseas who offered to help me pay for college costs. However, I know that sending large amounts of money repeatedly is suspicious. I'm 19 so I do not have much knowledge of what to do, or how the process works. My question, however, is would I have to report that I'm planning on recieving a large amount of money to someone? I was reading on something called the '10,000 rule' where I would have to report the money to the IRS. Would this apply to me? If so how would I go about doing this? Is there a certain limit of money that would be deemed too suspicious, or would it be fine since both of our bank accounts are verified on PayPal? Thank you for the help!

[DPCreations]

PayPal is likle to flag a transfer that is suspicious or violates local and international financial regulations.  You will be alerted if ther is a problem and reporting is required.  PayPal does NOT disclose ist's security model.  For more information you could check with your local bank on how they handle large deposits.

If you split into smaller amounts it could also look like your are attemting to circumvent financial and money laundering regulations.

You could educate yourself by doing Google searches for information.

[lancelotme]

better try wiretransfer,or send intl cashier check.

Dont monkey around with Paypal.

[sharpiemarker]

Tell your family friend to deal with the university direct.