Linking CC & bank acct. w/no intention of withdrawls

nics4you
Contributor
Contributor

I did something similar to this, many years ago. I've no intention of ever transferring $$ from my paypal acct, to my bank, but to use it to buy items only. I plan to buy/sell coins & anticipate dozens of transactions per week.

   Is there a work-around for this type of plan! Obviously, I couldn't purchase anything that I didn't have funds for.

My messages to 'contact us' aren't being addressed.  thanks,  chuck.

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

You asked a whopper of a question, Chuck.  Where to start!? Smiley Happy

 

First, buying and selling coins is high risk for disputes, chargebacks, and reversals so be prepared for hi-jinx.  Start low in value, then slow and steady work your way to higher price points.  Expect eventually PayPal limiting your account to perform account, identity and vendor/supply verification.  It's a formality, they review and monitor accounts for compliance so If all the documents are approved, they will release your account for your use again. They may even ask you to upgrade to a business account, if you haven't already.  In general, you do not have to withdrawl your money, you can certainly leave it in your PayPal Balance to spend if you want so no workaround is needed.  PayPal may like that, if you kept money in your balance so they can earn interest on that, except for when the money is on new seller hold and not released to the recipient.  I do that myself, unless I have pay my bills, I take a modest amount out.  Do you have a personal account now or a business account?  You can operate a business account under your name both as account owner name and business name together as sole proprietor, if you are not incorporated.


Kudos & Solved are greatly appreciated. 🙂
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