Hi. I recently reached a Paypal limit because I've now received over £1,900 in total and I can't send or withdraw money or close my account. In the details of the limit, it says that the 'Reset Date' is the 30th of December, 2013. What does that mean? My friend said that the limit will be gone when it comes around to that date until I earn another £1,900+. Is this true?
`Limit` means the amount of money you receives in one calendar year. If you received money more then this limit then your account suffers limitation. However you can restore it if you provide sufficient proofs to paypal staff about your identity.