PayPal Withdrawal Limit 2022

PayPal is one of the best online payment platforms in the world.

This payment system allows people and small businesses to send and receive payment to people and clients around the world.

Anytime you open a standard account or business account with PayPal, you will be given a withdrawal limit.

But the good news is you can increase that particular limit. Keep reading to find out….

What is PayPal withdrawal limit

Once you open a PayPal account, you will be given a withdrawal limit of $500 per month.

Although, this limit only applies to the money in your PayPal account that you want to transfer to your bank account.

If you are sending or receiving money from other PayPal members then this limit would not apply.

To increase your limit from $500 monthly, you need to verify your bank account or debit card.

NB: your withdrawal limit resets on the day you opened the account not the 1st of every month.

For instance, if you opened you PayPal account on the 12th of a particular month, the withdrawal limit would automatically be set to reset on the 12th of every month.

Checking the limits

If you want to check your account limits,  all you need to do is to;
  • log in to your PayPal account
  • proceed to your  PayPal account Summary page and click “See how Much You Can Send With PayPal” on the sidebar.
  • This page shows the status of all limits on your account, including the “Withdraw Money” limit.
  • Click Lift Limits and make sure you provide the necessary information to remove the limit.

 

How to link your bank account to you PayPal account

When you click Lift Limits, PayPal would walk you through the process of confirming your information ( adding a bank account).

Some banks support instant confirmation if you provide PayPal with your online banking information.

But if your bank doesn’t, PayPal will send you you two small deposits.

Once they arrive, visit the Lift Limits page again and report their amounts to prove your identity.

Once you’ve done this, the “lift limits” icon would change to “limit lifted“.

How to link your debit/credit card to your PayPal account

Linking your Credit and debit card to your PayPal works is almost the way.

PayPal charges your card a small amount. Check your card’s statement to find a code number attached to the charge.

Return to the Lift Limits page and enter the code to confirm the card is your own.

Once you’ve verified your debit or credit card, your limits would automatically increase.

What is PayPal limit once your account is verified

Once you have successfully verified your bank account or debit on PayPal, you’ll have access to unlimited withdrawal. 

Yes you read right, you can withdraw any amount you want at any time of the day, there is no limit once you confirm your bank.