PayPal extortion?

[Son of a gun-ner]

Hello people.
Anyone else receive messages from PayPal warning you that you're reaching your sending limit of £2500?

And to lift account limits, you have to "verify your account."
"We place initial limits on all accounts to increase security and help prevent fraud. Once you've verified your account, you'll be able to make as many payments as you like with PayPal."
"How to verify your account and remove your sending limit:

Log in to your PayPal account and click Wallet at the top of the page.
Follow the instructions to add your card to your PayPal account. We'll make a small charge to your card to make sure it's yours. This charge will create a unique 4-digit code that will appear on your card statement within a few days.
When the 4-digit "PAYPAL" code appears on your statement, log in to your PayPal account and enter that code."

But no mention of how much you will be charged?
What makes me laugh, I've had this account for years, and have EASILY spent many more thousands than their limit. I guess they changed their terms and conditions that I didn't read lol.

[Jimmic]

Has all the hallmarks of a scam doesn't it ? Make sure you verify the source in case it's a scam to get your details. Normally if it's legit these checks charge you £1 and then pay it back. I'd be very careful though.

[Son of a gun-ner]

Has all the hallmarks of a scam doesn't it ? Make sure you verify the source in case it's a scam to get your details. Normally if it's legit these checks charge you £1 and then pay it back. I'd be very careful though.

It seems legit, I get the message every time I've sent money since it went over £2000. They use my full name, and know the amount I've just sent.
And if and when I get to the limit, I'll see if they stop me sending. And I would only go through the process within my PayPal account anyway. Would never click on a link in a suspect email.
But thank you for your thoughts and advice

[forgebear]

we use paypal a lot they will take a penny off the card and ask you to let them know when you see it

[Son of a gun-ner]

we use paypal a lot they will take a penny off the card and ask you to let them know when you see it

With this message, there's no mention of the amount, and no mention of paying it back.

[Model Builder 4]

I had a similar message a couple of years ago Mick when I had nearly reached a selling limit of £2500, I didn't do anything about it and i have never received this message again

Cheers, Lee.

[forgebear]

hi yes the y will refund it just make sure you go to paypal and not a link
dave

[Son of a gun-ner]

I had a similar message a couple of years ago Mick when I had nearly reached a selling limit of £2500, I didn't do anything about it and i have never received this message again

Cheers, Lee.

Funny you should say that, I'm thinking about ignoring it.
I got the limit wrong, it was 2250, but it keeps fluctuating, it has been 2224 and 2265
Also, I'm sure I've spent more than the 500 they told me I had left to spend a while back. And on a couple of occasions the amount I had left to spend hadn't changed, which made me think it could be linked to friends and family spending.
I guess I'll find out soon as I only have £224 left to send out of my £2253 sending limit lol.

[silversurfer1947]

The fluctuating amounts could well be related to the variations in the sterling exchange rate, PayPal being based in Luxembourg.

[Son of a gun-ner]

The fluctuating amounts could well be related to the variations in the sterling exchange rate, PayPal being based in Luxembourg.

Good point Richard