How Much Can I Spend Through PayPal?

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PayPal is an online payment company you can use to purchase merchandise or send money using the Internet. Signing up at PayPal is free and there are no additional fees to use it to buy something online or send money. But, although PayPal acts like a bank, it is not and is not under the same federal rules that your bank must follow. Therefore, PayPal can impose its own rules, one of which is restricting how much you can spend using PayPal.

When You First Sign Up With PayPal

  • To sign up with PayPal, you will fill out a form asking you general information about yourself. Your name, address, phone number, and most importantly your email and a valid credit card. Your email is important because it is how PayPal will communicate with you and it becomes your PayPal ID. Once you have filled out the sign up form, PayPal will send you an email to the email address you have provided to them. In that email PayPal will ask you to click a link to confirm that this is really your email and you are the one who wished to sign up with PayPal.

    After you have completed the sign up procedure for PayPal, you may begin to make purchases or send money. Your purchases will be subtracted from the credit card you have attached to your newly created PayPal account.

    With only a credit card for spending funds on your PayPal account, PayPal will limit your spending to $2,000. To have this limit lifted, or removed, you must go one step further and verify your PayPal account.

Verifying Your PayPal Account

  • To start the process to verify your PayPal account, you must log in and add your bank account to your account, then confirm it. To confirm your added bank account, go to PayPal and log onto your account. You then will authorize two small deposits that PayPal will make to the bank account that you registered, at PayPal's own expense. These deposits should happen within two or three days after you have requested your bank account be confirmed by PayPal. You will then need to enter correctly the amounts of the two deposits on the PayPal website. After completing that, PayPal will consider your bank account and your PayPal account classified as verified, and spending limits on your account will be lifted.

Checking You PayPal Spending Limit

  • If you have an unverified PayPal account, you can check how much you have spent and what amount is left in your limit account. After logging in, click "My Account." On the Account Overview page there will be a link titled "View Limits" for you to click. Under the "Spending Limits" heading, you will be able to view the amount you have remaining in your account.

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