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New PayPal Account

New PayPal Account

Why is a new account not a good idea ?

Opening a new account, means that automatically your account will have set limitations on it. Normally about $ 1’000 US Dollars. This limitation means that you can only send a maximum of $ 1’000 US Dollars before you need to remove this limit.

To remove a limitation on your account, you will need to provide various documents, including identification and other things. You will also need a minimum period of time for PayPal to remove the limits. In Russia this can take up to 30 working days. In other countries it could take much less. But it does mean that until PayPal have reviewed your account, you will have the limitation applied.

When you open a new PayPal account they will ask you to insert the credit or debit card details so that you can link your bank account to PayPal. Remember if you do this, then that card will remain linked to PayPal until the card expires or is replaced with a new one. A linked credit or debit card can from then on only be used with that account, and will be restricted according to the account limitations on the account as to the maximum payments that can be made from that account (including the linked card).