I am new to paypal & dont understand the withdrawl limit?? It also says approved $500, does Paypal put that money in your bank acct like they are giving a $500 loan & you pay them back or what? Ive already confused myself
If you are referring to the ATM card withdrawal limit. It is normally no higher than $400.00. This applies if you have the Paypal debit card and you are not just a buyer. They reserve this card for sellers and merchants. You also can only withdraw this amount if there is money in your Paypal account. Much like a normal bank account. If you have $20.00 in your bank account, you can't withdraw $300.00.
