Is paypal holding a certain amount for a certain day before you can withdraw ???
By neil_tokitz
@neil_tokitz (345)
Philippines
November 16, 2012 5:49am CST
Hi guys! Part of earning online is having an account like paypal. I have my account too (which have 0 balance currently haha) and hoping it will have a balance soon with the help of mylot and other PTC sites I have join.
Is it true that paypal will hold a certain amount of money in your paypal account and you can't withdraw it for about 70 or 170 days?? I just heard it from my cousin who use to have a paypal acount too which he use to deposit his earning from online jobs. I was nont informed well with this case and I'm hoping you help me out with this.
Happy myloting! :)
3 people like this
7 responses
@owlwings (43915)
• Cambridge, England
16 Nov 12
This is only true if your account is limited or suspended for some reason. Normally PayPal will allow you to withdraw your balance at any time (if the account is verified and subject to their stated fees, of course).
@owlwings (43915)
• Cambridge, England
16 Nov 12
You can receive money into an unverified PayPal account (with a limit of a certain number of dollars per year, I believe). In order to withdraw the money, however, you must link your PayPal account to an acceptable bank or credit card. You will also be severely restricted as to what you can do with the money (in the way of paying for things online) until your account is verified (= attached to a bank sccount/credit card).
@neil_tokitz (345)
• Philippines
17 Nov 12
If ever I link my paypal account to a bank or credit card will they deduct a certain amount on it?? And if ever they do deduct, is it a loss on my part or they will return it later? Thanks for your response. :)
@neil_tokitz (345)
• Philippines
16 Nov 12
I see, but I think it still depends on where you're living. I'm living in the Philippines and it's my first time having a Paypal account, I just made it because it's one of the requirement here in mylot. Now I'm wondering if I would be able to withdraw my earnings here.
@muneerhabeeb (363)
• India
16 Nov 12
Yeah it makes auto withdrawals.No minimum account balance is needed.
@owlwings (43915)
• Cambridge, England
16 Nov 12
Autowithdrawal is only mandatory for Indian residents and PayPal have temporarily waived the withdrawal fees for Indians. Other countries are subject to fees for withdrawals and will not be able to withdraw unless they have enough balance to meet the charges.
@neil_tokitz (345)
• Philippines
16 Nov 12
I'm living in the Philippines and If I heard it right you must first meet a certain amount before you can withdraw it. And paypal will hold that amount for a months too. And maybe there's a fee too. XD
@brew2x (3094)
• Philippines
21 Nov 12
I don't know if it differs on where you are located but in my country which is the Philippines, you can withdraw anytime you prefer. As for me I always withdraw my money to my local savings bank account and the duration of the withdrawal is from 3 to 5 business days. 170 days is really long, I hope that is not true.
@surekharathi (14146)
• India
16 Nov 12
Recently I started a discussion problem about paypal my money gone with in a day but I read various response dont worry money is deposit in bank because for Indian according to RBI rule paypal automatic withdraw and transfer the money to our bank. I dont know the rule of other country about paypal.
@neil_tokitz (345)
• Philippines
17 Nov 12
Do you know or can you give me a link about the rules so that I can know too the paypal rules in my country?? I've been gathering information about paypal so that in future I will not face problems like that. Thanks! :)
@ARIES1973 (11426)
• Legaspi, Philippines
16 Nov 12
Hi neil!
Ever since I opened my Paypal account, I have it verified by using a smart money. So the amount they deducted from my smartmoney was returned to me and become my beginning balance with Paypal. When I withdraw some amount, I also see to it that I left something on Paypal. I don't know if your account is unverified because so far, with my friends whom I invited to work online, I encourage them to verify their accounts too. I would then advise you to do the same thing also.
Have a nice day!
@neil_tokitz (345)
• Philippines
16 Nov 12
I see, can I ask you how much they deduct in your smart money?? Also after I made my account in paypal, they ask for a credit card but I don't have one so I just skip it. Will that affect my paypal account?? What do I need to do?? Thanks! :)
@MIMO_Rulz_111 (2074)
• India
16 Nov 12
I'm not sure because PayPal functions differently in different countries. My account is at $0 too. But I had received payments thrice before including one from myLot. What PayPal does is, it auto-withdraws the amount and sends it to my bank after 3-5 days. That there's no way to stop it. So in my case the holding of an amount for certain number of days in untrue. Maybe in your country the rules are like that. Did you friend withdrew money before and faced this issue? I think other myLot users from your country who actively receive and withdraw money will be able to throw better light on the situation. Good day! 
@neil_tokitz (345)
• Philippines
16 Nov 12
Yes, my friend have some trouble withdrawing the amount. I think it took about 2 to 3 months before he was able to get his money. And I I am right, a fee was deducted too in his account. :D
@Thiruneesh (107)
• India
19 Nov 12
Minimum paypout for paypal is 10$. minimum payout for one month is 500$, but you can increase this amount by adding credit card.
