Question about GoDaddy

[Jordan L.]

So, I was just about to buy a domain through GoDaddy, via Paypal, and I got this message:

By electing to use your PayPal account to make a purchase through Go Daddy you are agreeing to the Merchant-Initiated Payment billing agreement through PayPal. This billing agreement establishes a relationship between you and Go Daddy through PayPal and allows you to authorize Go Daddy to withdraw funds for payment of purchases you make at our site directly from your PayPal account.
You will receive an email notification from PayPal informing you of the acceptance of this Merchant-Initiated Payment agreement and your monthly billing limit. Your monthly billing limit is based on the amount of your initial purchase using the account with us. We start at $500.00 USD and round up your limit to the nearest $100.00 USD. You are free to increase or lower your monthly billing limit, if you choose to, by visiting www.PayPal.com
Limit for this Merchant-Initated Payment: $500 USD per month

What does that mean? Does it mean they'll be taking $100 or $500 out of my Paypal account? o.0

[m4tth3vv]

. We start at $500.00 USD

and round up to the nearest 100.

How much is in your PP lol?

[Extasey]

Whats the domain? Thats the most expensive transaction I've seen done through a non-private (commercial) sale!

[Jordan L.]

PP?

That's crap, GoDaddy want $500 or so per month if you pay through Paypal, I ended up just buying it through Namecheap instead.

[Extasey]

PP = PayPal
What was the domain?!

[Jordan L.]

Oh, there is nothing in my PayPal account, so it's runs off a Credit Card, but still lets me pay through Paypal.
And I don't want to mention the Domain name yet, as I'm going developing it through the next few weeks, keeping it t0p s33kr1t for now.

[Closed]

PP?

That's crap, GoDaddy want $500 or so per month if you pay through Paypal, I ended up just buying it through Namecheap instead.

But i think GoDaddy is more popular than NameCheap for a reason

[Skill]

They will not take money out of your account without your consent. The text that you have quoted from GoDaddy explains your monthly allowance in which you are allowed to spend at GoDaddy via your PayPal account. $500 is your monthly allowance, it's limited to only that amount. If you wanted to, you could reduce or raise that amount to suit your needs.

I'm sorry if I have misread, but that's the way I see it. I don't think it is stating that you will have to pay them $500 a month.

[Grizzly]

Skill is right. The rest of the people freaking out about it are wrong. If your first transaction is <$500 your limit of payments via PayPal are limited to $500/month. If it's > $500 but < $600 your limit is $600. And so in.

[WhiteHatCrew]

They won't pull cash without asking for your permission, if they just ripped cash from your account on their own accord they would be facing thousands of chargebacks everyday.