5000 SGD LIMIT that prevents deposits

[Team2020]

I've tried to withdraw 5k + USD from a trading platform a day or so ago whilst holding a personal account, the payment was refunded back to them and paypal sent me this message

"The Singapore Payment Services Act 2019 limits  balances across all of your personal PayPal accounts to SGD 5,000  (or foreign currency equivalent). To continue receiving payments, you will first need to use or withdraw some money from your existing PayPal  balance"

I've since upgraded to a business account , can i confirm that this resolves the issue and i should be able to receive the money if i request another withdrawal from my trading platform? 

[Carrot03]

Hi I’m having the same issues. How do you know if the money rejected is refunded to the sender? And when upgrading to a business account, what information do they ask? Is forex trading a business in their view? Thank you