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since ‎Oct-03-2021
Country: Singapore
Type: Business
Team2020
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5000 SGD LIMIT that prevents deposits

by Team2020 Contributor in Transactions Archives
‎Oct-03-2021 08:52 PM
‎Oct-03-2021 08:52 PM
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?  ... View more
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  • Add or withdraw money
  • Receiving Money

Re: 5000+ SGD in limbo

by Team2020 Contributor in Transactions Archives
‎Oct-03-2021 08:48 PM
‎Oct-03-2021 08:48 PM
i tried this yesterday , it just sent the money back to the 3rd party sending the payment. I've actually just upgraded to a business account do you know if this resolves the issue? ... View more
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