After a lot of unsuccessful searches for a card processor that would accept my business, I have decided to give up on that quest and open up to the idea of having about 100 paypal accounts each alternately receives card payments until a certain sales revenue volume is reached and then stop there for the month. My question is does anyone know the specific sales volume that will trigger Paypal document verification? Is it $500/month or $1000/month? Maybe even $1500/month?
Sales Revenue Volume that Triggers Paypal Verification
- Thread starter dohongnam
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Paypal will do first tier verification at $2500 total revenue.
They will not take away your ability to receive funds, they will however remove ur ability to send / withdraw funds. You'll still have the ability to refund.
At this stage they'll ask you to link your Creditcard and in most cases verify u'r identity again or for the first time. They might also ask for proof of residency (utility bill).
Paypal will do second tier verification at $10.000 total revenue
They will not take away your ability to receive funds, they will however remove ur ability to send / withdraw funds. You'll still have︀ the ability to refund.
At this stage they'll ask you to link a bank account,︁ ask details about source of funds coming in, ask basic details about your business and︂ they might reask you to verify your identity
Keep in mind Paypal also has the︃ 30 day hold limit where funds get put "on hold" in your account for 30︄ days and you can't spend / withdraw these funds. The limit is mostly lifted after︅ 3 months.
Very important that new Paypal accounts will quickly notice that accepting huge revenue︆ is pointless.
If you for example receive a $500 payment, that's all good but you︇ wont be able to send payments to other Paypal account for the first few weeks.︈ Only being able to send really small amounts every few days.
They will not take away your ability to receive funds, they will however remove ur ability to send / withdraw funds. You'll still have the ability to refund.
At this stage they'll ask you to link your Creditcard and in most cases verify u'r identity again or for the first time. They might also ask for proof of residency (utility bill).
Paypal will do second tier verification at $10.000 total revenue
They will not take away your ability to receive funds, they will however remove ur ability to send / withdraw funds. You'll still have︀ the ability to refund.
At this stage they'll ask you to link a bank account,︁ ask details about source of funds coming in, ask basic details about your business and︂ they might reask you to verify your identity
Keep in mind Paypal also has the︃ 30 day hold limit where funds get put "on hold" in your account for 30︄ days and you can't spend / withdraw these funds. The limit is mostly lifted after︅ 3 months.
Very important that new Paypal accounts will quickly notice that accepting huge revenue︆ is pointless.
If you for example receive a $500 payment, that's all good but you︇ wont be able to send payments to other Paypal account for the first few weeks.︈ Only being able to send really small amounts every few days.
I wouldn't count on it in days. Once you reach the $2500 mark in total revenue you'll have to pass first tier verification.
The second tier i'm not sure that it's 10K. I'm guessing it's depending on country of the Paypal registered resident because i've heard people say the second tier they had to do at 25K, some at 8K, some even only at 50K but the first tier will always be done at $2500.︀
It doesn't matter how long it takes you to get to $2500 revenue but whenever︁ you get there, you'll have to do first tier verification.
The second tier i'm not sure that it's 10K. I'm guessing it's depending on country of the Paypal registered resident because i've heard people say the second tier they had to do at 25K, some at 8K, some even only at 50K but the first tier will always be done at $2500.︀
It doesn't matter how long it takes you to get to $2500 revenue but whenever︁ you get there, you'll have to do first tier verification.
Hi Guys, I am also using the same system to receive money in a high risk store.
I receive payments with the formula "for friends and family", I change accounts daily and through Revolut I generate a new virtual card to which to connect the Paypal account.
The real problem is that when I receive Paypal payments I don't always have them transferred immediately. 90% of the time, when I try to make a transfer to my card I receive generic errors, for example "due to a technical error we are unable to process your request, please try again later".
How do you manage the︀ money you receive on your paypal account?
I receive payments with the formula "for friends and family", I change accounts daily and through Revolut I generate a new virtual card to which to connect the Paypal account.
The real problem is that when I receive Paypal payments I don't always have them transferred immediately. 90% of the time, when I try to make a transfer to my card I receive generic errors, for example "due to a technical error we are unable to process your request, please try again later".
How do you manage the︀ money you receive on your paypal account?
H
I am in the testing phase.
So far it is going well.
Paypal makes withdrawals difficult the first 30 days.
Please note that I use Paypal as a residual channel for only customers who would like to pay by credit card. I never collect more than 1500 euros on each︀ new account and I try to split customer payments into 3-4 different Paypal accounts.
It is very cumbersome and a person who only deals with that will be needed. But︁ depending on your business it can be convenient.
I am in the testing phase.
So far it is going well.
Paypal makes withdrawals difficult the first 30 days.
Please note that I use Paypal as a residual channel for only customers who would like to pay by credit card. I never collect more than 1500 euros on each︀ new account and I try to split customer payments into 3-4 different Paypal accounts.
It is very cumbersome and a person who only deals with that will be needed. But︁ depending on your business it can be convenient.
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