Hi Barry! I've used PayPal a number of times, and my account is a personal one. The policy change you mention, I'll quote here from their web site:
[Revised Credit Card Payments Receiving Limit (Personal Accounts Only)
Notice Date: December 6, 2000
Effective Date: December 22, 2000
In order to increase the predictability and consistency of our credit card processing costs, the Personal Account $500 limit on receiving credit card payments every six months will be changed to a $100 monthly limit. This change increases the actual limit from $1000 per year to $1200 per year. Payments funded from the sender's bank account or existing PayPal account balance will not count against the recipient's limit. At the beginning of each monthly cycle, the limit will be reset to $100. Recipients exceeding the $100 limit in a given month will no longer be able to accept credit card payments unless they choose to upgrade to a Premier or Business Account. Credit card payments sent to a Personal Account in excess of the limit will be held as "pending" until the recipient chooses to accept the payment by upgrading or to return it to the sender by refusing the payment. Personal Accounts exceeding the limit will still be able to receive payments funded from a bank account or existing PayPal account balance.]
The only transaction that is limited is the credit card transaction, not the bank transaction. Granted, knives often times cost more than $100.00, but every credit card transaction cost PayPal at least 1.5 points or more! If you check with any of the credit card companies, they all charge quite a bit for cash advances. They're there to make money, just like PayPal. I also make sure that the person/business that I'm using PayPal with is a verified account. I'm kinda happy with this new situation, since it forces me to buy with cash, and not run up my credit cards so much.
Hank
