Tuesday, June 7, 2011

Paypal limits and smart money

In my last smart money and paypal post, I had a dissenting opinion in the comments. 2 points are claimed.
1. There is a limit if you do not verify your card and
2. The verify your card option is still there, the one that charges your card 100 pesos

I find it puzzling because as I said in my last post I recently removed my smart money card and added it again but I found that the procedure was different. I found that there is no verify option anymore, its only one step for both adding and verifying a card.

And if I log into my paypal account I can see my limits. Again, I have never verified my card. The only charges I accrued are the php 43.xx pesos during the add card phase and whatever I bought since then. I was never billed for php 100 pesos.

 To see your limits log in and go to the my account tab > oveview then click on the view limits link. As for me I seem to be unlimited. It says

Sending

Your sending limit has been removed.
Completed

Withdrawal

Now that you've completed verification, you can choose one of two ways to transfer your money from your PayPal account to your bank account or your Visa® credit/debit card.
  • Bank account: Your withdrawal limit has been removed
  • Visa® credit/debit card: Your daily withdrawal limit is $500.00 USD.Note: The daily withdrawal limit to a Visa® credit/debit card cannot be removed.

So you can see that I do not have any limits. So why the discrepancy? One possibility is that since I wrote that blog post, paypal has reverted to the old method. Once my card expires end of this year, I'll try again


The end

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