EU Receiving limits

[BennBroadhurst]

When you now open a Paypal account, after a few transaction Paypal ask you for ID, proof of address etc to get a fully confirmed account. 

When you hit the EU receiving limits, how do you now remove them? I have seen other posts say you submit ID & proof of address, but this has already been done when opening the account?

I haven't hit the limit yet, but when i do i need it to be resolved ASAP for business to carry on so i want to plan ahead. 

[kernowlass]

@BennBroadhurst

Normally adding a bank account does that.

[BennBroadhurst]

Hi, my account has everything

-Proof of ID
-Proof Of Address
-Bank Account
-Credit Card

- All other personal info, 

does this mean i wont be restricted when i hit the EU limit?

[kernowlass]

@BennBroadhurst

Well i wasn't with that info, sailed straight through.......LOL

[Magie-Financiè]

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@BennBroadhurstwrote:

When you now open a Paypal account, after a few transaction Paypal ask you for ID, proof of address etc to get a fully confirmed account. 

When you hit the EU receiving limits, how do you now remove them? I have seen other posts say you submit ID & proof of address, but this has already been done when opening the account?

I haven't hit the limit yet, but when i do i need it to be resolved ASAP for business to carry on so i want to plan ahead. 

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Unfortunately, financial companies in Europe are showered with Know Your Customer nonsense, which essentially means they need to confirm who you are and ensure there is no money being laundered using the service.

Companies like PayPal have some leeway, which means they can allow you to open an account and use it, until a certain amount has been handled / account volume reached. They can either use credit reference agencies (identity check) / electoral roll to confirm your details and a confirmed bank or if one of those fails, identity documents instead.

People who claim to have never been asked for documentation by PayPal would have passed these checks. If there are still EU limits showing in your account, it means they've not satisfied the KYC requirement yet. Either they'll search public records later on or if unsuccessful, they will ask for your documents.

It is a real pain in the backside, especially if interrupted. You can visit here:

https://www.paypal.com/policy/hub/kyc/

Make sure that each box on the checklist is ticked green. If one or more isn't, provide the requested info / documentation and then let it rest. When the time comes to fulfill their KYC, a specialist will already have the stuff prepared and therefore won't limit your account for them.

I hope that this helps a little! Good luck 🙂

[kernowlass]

@Magie-Financiè

You just need to add and confirm a bank account when you hit that limit.

[Magie-Financiè]

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@kernowlass wrote:

@Magie-Financiè

You just need to add and confirm a bank account when you hit that limit.

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If they are running a business, submitting the documents in advance is the safest and most advised option by PayPal, as this minimizes the chance of being asked to produce them at a later date, whether this be in the form of a limitation or confirmation of business status, depending on their category.

Confirmation of a bank account does not satisfy KYC entirely, this is one of a combination of different checks made in the background. If PayPal have doubts about the account holder's identity, they will ask for ID and proof of address regardless of verified status.

Your advice is certainly helpful to the OP, however my personal advice is to submit their documents if operating as a business, they are safe with PayPal and won't be released to third parties, excluding authorities.