My friend is looking to be able to withdraw a large amount of $2-3k.
They are not a seller, but looking to use Paypal as a savings that
can be "forgotten"about until vacation time.
The problem is that paypal is only allowing them withdraw $300 daily.
They are active with buying. Anyone have an idea on what they can
do to fix it the limit or what might be causing it.
For a perfectly accurate answer I’d have them call PayPal.
they will be in a few days. I was trying to see if it was something simpler they
could do/try on their own.
Pretty sure to be able to withdraw, send and receive a larger sum then the limit given you have to provide a bank account, a credit card, S.S., and some other things I can think off the top of my head.
I know you have to have given 4 out of the 5 they require
Exactly. Most of it is to limit money laundering or fraud. Once Paypal can verify who you are, the limits are raised. Case in point - IRS notifications over a certain revenue limit for US guys.
I had to scan over a photo ID maybe? Also providing social security number. Those should do it. I think those came along for me when I ran into the 1099 reporting limits. Maybe I did them earlier on but cannot recall.
they sent a screen shot and it had the same stuff as mine. Not sure why they were limited to $300 withdrawl.
That sounds like limit on a debit card.