Today we’re going to look at a simple setting you can adjust in your PayPal account that might help you to avoid limitations or restrictions in the future. Especially if you expect to go to a trade show or anything like that which might spike your volume temporarily, you’re going to want to know about this. Let’s take a look.
When you first create your PayPal account one of the things that you have to fill out is a basic form about what type of sales you make, where you’re selling from, the average order amount, monthly volume you might expect, etc. A lot of times when you’re first creating an account you might skip through this pretty quickly, or maybe it’s a brand new business so you’re a little unsure about what these amounts should be. You may end up leaving the values kind of low and end up doing better than you thought you might. This is something that could raise red flags if it’s not set correctly.
Steps to Update PayPal Business Information
- Log in to your PayPal account.
- Click to view your Profile and Settings.
- Click into the My Business Info section on the left side of the screen.
- On the right, click the Update link next to Business Information.
- Click the Edit link next to “Your business information.”
- Adjust the settings to match your company financials.
- Click to save your adjustments.
Make sure all of that is set accurately. Again, when you first created your account you might have skipped through it pretty quickly, or might have just grown since then. Especially if you’re going to go to a tradeshow, or if you expect a big spike on your website, make sure to adjust those settings so that PayPal knows what you expect. If you get a bunch of sales or something that completely out-performs what you, the account owner, even said you expected to get, that could raise some red flags and put the account in restricted or limited status. Then you just have to go through some procedures to get the account opened back up. It’s not a big deal but it can be a bit of a headache depending on exactly when it happens.
So this is just one way to hopefully help avoid that. There is no guarantee but it’s definitely one of the variables involved. So hopefully that will help. Good luck, and happy PayPal-ing!