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Originally Posted by kerry edwards
Something has changed with Paypal, perhaps someone can explain what has gone on. I used to use a credit card with Paypal all the time on Ebay and the last time I tried to use it a few weeks ago, it said I had 'reached my limit' and that in order to keep using the account, they needed my bank account information. I could also no longer see the option of paying with a credit card on my account.
Was it that too many people were being ripped off on Ebay and getting refunds on their credit cards and Paypal (ie--Ebay now) could not get the money back from sellers? Is it an admission that Ebay has lots of fraud?
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I'm at the same place.
There is a limit of $2,000 for any account that is not "verified" with a bank account. This has always been the practice. I don't know the reason, but, apparently, they desperately want your bank account information to do whatever they wish with it.
They are not getting it from me, I'll tell you that. I'm just below $100. left on the account and, when it runs out, I'll setup another new account using one of the other e-mail account names.
Once they have your bank account, they can dip into it whenever they determine that you owe them money. Additionally, they really would prefer for you to use your bank account, rather than a credit card, because they avoid all credit card fees. It's much more profitable that way.