Sep 17, 2013, 2:42 pm
Last edit by: sechs
Paypal MyCash $500 daily load limit resets after 12:00am EST
Paypal MyCash $4000 per calendar month load limit resets after 3:00am EST
An additional $4000 per month can be loaded using Greendot Moneypaks. See the Moneypak thread for issues with these. Limit purchases to no more than 2 x $500 at a time.
To get a live PayPal MyCash representative, call 1-855-721-5035, press 1 to all the voice prompts until it asks you for your PIN, and then press 0#, 0#, and 0#.
If you are getting error code 26 when loading MyCash to your account:
Paypal MyCash $4000 per calendar month load limit resets after 3:00am EST
An additional $4000 per month can be loaded using Greendot Moneypaks. See the Moneypak thread for issues with these. Limit purchases to no more than 2 x $500 at a time.
To get a live PayPal MyCash representative, call 1-855-721-5035, press 1 to all the voice prompts until it asks you for your PIN, and then press 0#, 0#, and 0#.
If you are getting error code 26 when loading MyCash to your account:
- Login to Paypal on a computer, not phone
- Go to settings (it is the gear)
- Choose selling tools on the left
- Scroll down to: Block payments -- Limit payments, add instructions, and more -- and choose update
- On the page "Payment Receiving Preferences" select the first radio button, "For the items not sold on eBay, Only allow payments from the users with confirmed address."
- Be sure that NO is chosen
- Save and you are done
All things PAYPAL [2013-2014 Master Thread]
Nov 26, 2014, 1:57 pm
#1801
Join Date: Aug 2011
Posts: 100
I had an interesting experience today with the PPBDMC. I finished loading $4000 for the month of November yesterday. Have a total balance of $4000-$4100.
Went to US Post Office today and tried to purchase a money order for $1000 (total cost of $1001.65). Payment did not go through. Postal clerk indicated that error code was "A02".
Returned home and called PayPal. PayPal debit card specialist told me that transaction was rejected because it was a coded as a cash advance and there is a $400 daily limit on cash advances. He then asked me what I had tried to purchase. I told him that I was trying to send some packages and purchase a money order (actual transaction was limited to money order purchase). I indicated that it is not possible to get $1000 cash back from a debit card transaction at the post office and mentioned that I had actually declined the cash back options that had been presented to me.
He then put me on hold and said that he needed to research the matter. Upon returning, he indicated that this was a known issue that was just reported yesterday and that the "technicians" are aware of it and would be investigating it. When I asked him to clarify the nature of this known issue, he simply said that purchases at some merchants (including the US Post Office) were being treated as cash advances. He then cheerfully added that I shouldn't have a problem making other purchases from other merchants.
Let's hope this isn't a case of PP purposely putting the brakes on the amount of money orders that can be purchased, although I suspect that's what is happening.
By the way, I've only been using the PPBDMC for three months. Have fully loaded it each month and liquidated most of the funds through ACH transfers to bank account and one previous purchase of $1000 money order from USPS. I have not received the letter from PP. My PP account has been open since 1999 and I previously ran several thousands of dollars through it each month in terms of eBay sales, but have not done so for the past few years.
Went to US Post Office today and tried to purchase a money order for $1000 (total cost of $1001.65). Payment did not go through. Postal clerk indicated that error code was "A02".
Returned home and called PayPal. PayPal debit card specialist told me that transaction was rejected because it was a coded as a cash advance and there is a $400 daily limit on cash advances. He then asked me what I had tried to purchase. I told him that I was trying to send some packages and purchase a money order (actual transaction was limited to money order purchase). I indicated that it is not possible to get $1000 cash back from a debit card transaction at the post office and mentioned that I had actually declined the cash back options that had been presented to me.
He then put me on hold and said that he needed to research the matter. Upon returning, he indicated that this was a known issue that was just reported yesterday and that the "technicians" are aware of it and would be investigating it. When I asked him to clarify the nature of this known issue, he simply said that purchases at some merchants (including the US Post Office) were being treated as cash advances. He then cheerfully added that I shouldn't have a problem making other purchases from other merchants.
Let's hope this isn't a case of PP purposely putting the brakes on the amount of money orders that can be purchased, although I suspect that's what is happening.
By the way, I've only been using the PPBDMC for three months. Have fully loaded it each month and liquidated most of the funds through ACH transfers to bank account and one previous purchase of $1000 money order from USPS. I have not received the letter from PP. My PP account has been open since 1999 and I previously ran several thousands of dollars through it each month in terms of eBay sales, but have not done so for the past few years.
Last edited by kharlamov; Nov 26, 2014 at 4:04 pm
Nov 26, 2014, 3:46 pm
#1802
Join Date: Jul 2014
Posts: 197
By the way, I've only been using the PPBDMC for three months. Have fully loaded it each month and liquidated most of the funds through ACH transfers to bank account and one previous purchase of $1000 money order from USPS. I have not received the letter from PP. My PP account has been open since 1999 and I previously ran several thousands of dollars through it each month in terms of eBay sales, but have not done so for the past few years.
Nov 26, 2014, 3:46 pm
#1803
Join Date: Apr 2014
Posts: 103
I had an interesting experience today with the PPBDMC. I finished loading $4000 for the month of November yesterday. Have a total balance of $4000-$4100.
Went to US Post Office today and tried to purchase a money order for $1000 (total cost of $1001.65). Payment did not go through. Postal clerk indicated that error code was "A02".
Returned home and called PayPal. PayPal debit card specialist told me that transaction was rejected because it was a coded as a cash advance and there is a $400 daily limit on cash advances. He then asked me what I had tried to purchase. I told him that I was trying to send some packages and purchase a money order (actual transaction was limited to money order purchase). I indicated that it is not possible to get $1000 cash back from a debit card transaction at the post office and mentioned that I had actually declined the cash back options that had been presented to me.
He then put me on hold and said that he needed to research the matter. Upon returning, he indicated that this was a known issue that was just reported yesterday and that the "technicians" are aware of it and would be investigating it. When I asked him to clarify the nature of this known issue, he simply said that purchases at some merchants (including the US Post Office) were being treated as cash advances. He then cheerfully added that I shouldn't have a problem making other purchases from other merchants.
Let's hope this isn't a case of PP purposely putting the breaks on the amount of money orders that can be purchased, although I suspect that's what is happening.
By the way, I've only been using the PPBDMC for three months. Have fully loaded it each month and liquidated most of the funds through ACH transfers to bank account and one previous purchase of $1000 money order from USPS. I have not received the letter from PP. My PP account has been open since 1999 and I previously ran several thousands of dollars through it each month in terms of eBay sales, but have not done so for the past few years.
Went to US Post Office today and tried to purchase a money order for $1000 (total cost of $1001.65). Payment did not go through. Postal clerk indicated that error code was "A02".
Returned home and called PayPal. PayPal debit card specialist told me that transaction was rejected because it was a coded as a cash advance and there is a $400 daily limit on cash advances. He then asked me what I had tried to purchase. I told him that I was trying to send some packages and purchase a money order (actual transaction was limited to money order purchase). I indicated that it is not possible to get $1000 cash back from a debit card transaction at the post office and mentioned that I had actually declined the cash back options that had been presented to me.
He then put me on hold and said that he needed to research the matter. Upon returning, he indicated that this was a known issue that was just reported yesterday and that the "technicians" are aware of it and would be investigating it. When I asked him to clarify the nature of this known issue, he simply said that purchases at some merchants (including the US Post Office) were being treated as cash advances. He then cheerfully added that I shouldn't have a problem making other purchases from other merchants.
Let's hope this isn't a case of PP purposely putting the breaks on the amount of money orders that can be purchased, although I suspect that's what is happening.
By the way, I've only been using the PPBDMC for three months. Have fully loaded it each month and liquidated most of the funds through ACH transfers to bank account and one previous purchase of $1000 money order from USPS. I have not received the letter from PP. My PP account has been open since 1999 and I previously ran several thousands of dollars through it each month in terms of eBay sales, but have not done so for the past few years.
Nov 26, 2014, 4:01 pm
#1804
Join Date: Aug 2011
Posts: 100
No offense taken. That's good advice. I need to find alternative ways to liquidate aside from the small eBay purchases I occasionally make.
Nov 26, 2014, 8:53 pm
#1805
Join Date: May 2014
Location: LAX
Programs: AA, UA, DL, NSA, CIA, MIB
Posts: 537
Nov 26, 2014, 9:35 pm
#1806
Join Date: Oct 2014
Location: LAC
Programs: Regal Crown Club
Posts: 488
Haven't ppl been shut down recently for bulk-buying MOs @ WM? Why should bulk-buying MOs from the post office be any different?
Nov 27, 2014, 10:00 am
#1807
Join Date: Nov 1999
Programs: UA, DL, AA, Sutherlands Lumber
Posts: 7,349
Can you buy an ebay GC, overpay for an item and create a cash surplus to withdraw?
I've searched but haven't found anything.
I've searched but haven't found anything.
Nov 27, 2014, 8:33 pm
#1808
Join Date: Jan 2013
Location: 212
Programs: Marriott Titanium, Hilton Gold, UA Silver
Posts: 502
Another option would be to use it to pay off your Citi credit card balances.
Nov 27, 2014, 8:51 pm
#1809
Join Date: Apr 2012
Programs: 25 million points to burn!
Posts: 1,522
And throw 1K a month in online debit loads onto your BB or Serve! You'll get $10 back for your trouble...
Nov 30, 2014, 4:54 pm
#1810
Join Date: Dec 2004
Posts: 7,896
deleted
Last edited by rrgg; Nov 30, 2014 at 5:02 pm
Nov 30, 2014, 4:55 pm
#1811
Join Date: Dec 2004
Posts: 7,896
I read through the thread and could not find an example of someone with 200 transactions who exceeded the $20k threshold due to MyCash deposits. Was anyone in that situation and did you receive a 1099?
Also, I saw these 2 posts from earlier in the year:
The post from CapitalAllowance is a little reassuring. However I checked my Annual Financial Summary that ttlmmky mentioned and the MyCash deposits are NOT under "Transfers to PayPal Account." They appear in "Payments received" which is a sub-category of "Sales Activity." That seems like a bad sign.
Also, I saw these 2 posts from earlier in the year:
They shouldn't count for your 20k/200 transaction thresholds. You can make sure of this. Not sure how to do it in the new layout of PayPal but in the old layout: under the History tab at the top click Reports. Then click Annual Financial Summary and select 2014 (year to date). Under Sales Activity you should see how much you've done this year thus far, and the Cash Cards shouldn't factor in. They'd be under "Transfers to PayPal Account". I'm pretty sure that's the way it is for me anyway
So I have been doing business on ebay for some time and have been asking myself the same thing. Having called in multiple times, and getting multiple answers ( usually no, but I am paranoid about the IRS) I was able to speak to someone on the tax compliance team. After stating my concerns about being double taxed for trying to aggregate my funds into paypal she assured me that paypal mycash loads do NOT count toward the 1099k limit. Granted, I am going to get one anyway, but they will not be on the form, nor should they trigger the process....
As always, YMMV, but she seemed definitive and competent.
As always, YMMV, but she seemed definitive and competent.
Last edited by rrgg; Nov 30, 2014 at 5:34 pm
Nov 30, 2014, 9:48 pm
#1812
Join Date: Feb 2009
Posts: 3,737
I read through the thread and could not find an example of someone with 200 transactions who exceeded the $20k threshold due to MyCash deposits. Was anyone in that situation and did you receive a 1099?
Also, I saw these 2 posts from earlier in the year:
The post from CapitalAllowance is a little reassuring. However I checked my Annual Financial Summary that ttlmmky mentioned and the MyCash deposits are NOT under "Transfers to PayPal Account." They appear in "Payments received" which is a sub-category of "Sales Activity." That seems like a bad sign.
Also, I saw these 2 posts from earlier in the year:
The post from CapitalAllowance is a little reassuring. However I checked my Annual Financial Summary that ttlmmky mentioned and the MyCash deposits are NOT under "Transfers to PayPal Account." They appear in "Payments received" which is a sub-category of "Sales Activity." That seems like a bad sign.
My advice would be if you don't want to be at risk of a 1099 don't go over the limit. If you've already gone over the limit even if you call into Paypal you could always get a CSR who doesn't know the answer and gives you bad information.
I would post back and let people know if you got a 1099 as a data point.
Dec 1, 2014, 6:39 am
#1813
Join Date: Dec 2004
Posts: 7,896
Personally I would just call Paypal if you have important questions. This rule of $20k/200 has only been around for a few years. Technically anyone could buy you a Paypal gift card and you could load those funds into your account. Though Paypal could see it as its intended use of only the account holder loading the funds? We've seen people with 3+ amazon payment accounts going over the threshold and not getting a 1099.
My advice would be if you don't want to be at risk of a 1099 don't go over the limit. If you've already gone over the limit even if you call into Paypal you could always get a CSR who doesn't know the answer and gives you bad information.
I would post back and let people know if you got a 1099 as a data point.
My advice would be if you don't want to be at risk of a 1099 don't go over the limit. If you've already gone over the limit even if you call into Paypal you could always get a CSR who doesn't know the answer and gives you bad information.
I would post back and let people know if you got a 1099 as a data point.
I asked here because if someone actually did this already, their experience is probably more reliable PayPal's words. For example CapitalAllowance was told by PP that MyCash cards don't count but says he got conflicting answers.
Dec 1, 2014, 7:14 am
#1814
Join Date: Mar 2012
Location: Dallas, Texas
Posts: 56
No more loads to BB?
Hey guys - I've been loading my BB with PPMC for many months. Today, I logged onto by BB and tried to load $200 since it is the first of the month and it said that the issuer blocked the transfer. Did I miss something? Has this been closed?
Dec 1, 2014, 7:20 am
#1815
Join Date: Jul 2014
Posts: 3,688
I wasn't aware PPMCs can be loaded straight to BB but I just loaded Serve with PPBDC (funded by PPMCs) and it went through this morning.
