Hello,
I have just recently heard about PPMC. Since I am currently living in Europe, but still work for an American company remotely, this seemed like a great way for my parents and brother to send me money without incurring the large ATM fees that I get with my current BOA account. Bank of America used to offer free withdrawals here because they partnered with a German bank, but they have since removed this feature, and I now have to pay almost 10% of what I take out of my ATM here, and I can rarely use my BOA debit card without running into huge fees.
So my plan was to get the PP debit card and spend around 50-60% of what was funded through MyCash, but I would also have to withdraw around 40-50% of it, for items I am unable to pay for with the debit card. This seemed like a great idea,.. but then I did a search on 'withdrawing PPMC', and I found all these people that complained about their account being shut down for withdrawing cash from their account to their bank account.
I did more searching on this issue, and I found out that this happened to a lot of people, and with accounts that people had for a long time. I assumed these people had to be doing something wrong, but I am still not sure what exactly that is.
I don't know if there is a certain limit that Paypal wants you to spend with them, but I don't know what that limit may be?
I was actually going to create a business account as well, because the amount of MyCash that I was going to need to have sent to my account would probably be around $6000 a month, and there is a $4000 limit on the PPMC account.
So my questions are:
- I don't want to just USE paypal just to avoid bank fees, and that is the reason I ordered the MyCash debit card, but is there a "hidden" amount that paypal will let you withdraw to your account? And if so, what is that amount? I don't want to cause any problems, and I can't afford to have my account locked for 180 days ( saw a lot of complaints on that)
I will make use of the debit card as often as possible, but ultimatley I will need to withdraw here and there.
- If the withdraw option is there, why allow for it, if it can cause your account to be locked?
I have to assume people are doing something wrong, but there are way too many complaints from users that are long standing customers for it just to be something they are doing wrong, right? It sounds like there are scammers that found some loophole, but Paypal is grouping in honest people with them somehow, and that does not seem fair.
If there is something I can provide to show what I am doing, where I live, etc.. I would like to go through that verification process with Paypal and avoid any occurrences where I may be locked.
Thank you!
-Tim
