Changes to PayPal Legal Agreements
Effective date: 17 November 2018
We’re updating the PayPal Australia User Agreement and Combined Financial Services Guide and Product Disclosure Statement.
The changes are set out in more detail below and will be effective from 17 November 2018. By continuing to use your PayPal account from that date, you’re agreeing to the changes. If you do not agree to the changes, you must close your PayPal account before 17 November 2018.
Updates to the Australia User Agreement
We’re unveiling an entirely redesigned User Agreement for our Australian customers. We’ve worked hard to make this new User Agreement a more user friendly experience with content that makes it easier for you to understand your rights and obligations when it comes to using PayPal’s products and services.
Here’s what we’ve done:
- We’ve redesigned the User Agreement to simplify its format, with new colour-coded headings so you can find the information most relevant to your account more easily. We’ve revised and reorganised the content of the User Agreement to be easier to follow and to include information where you’d naturally look for it. Except as described in section B below, we’re not changing the meaning of what we say, only how we say it and where you can find it.
- In addition to redesigning the User Agreement, we’re making the following substantive changes to our terms:
- We’re updating our Seller Protection Policy to expand our eligibility criteria to include intangible items, such as tickets for travel and services.
- We’re adding terms to confirm sellers’ obligation to provide equal treatment to PayPal in relation to other payment methods at checkout and in marketing material.
- We’re clarifying that users must not mischaracterise PayPal in any public communications or dissuade the use of PayPal.
- We’ve made it clearer when and how refunds are processed, including returning funds directly to your linked bank account and how currency conversions work when you made the original payment in a foreign currency.
- We’re clarifying how we deal with errors and unauthorised transactions, and how and when you should report these.
To review the updated User Agreement, please Click HERE.
Updates to the Combined Financial Services Guide and Product Disclosure Statement
We’ve updated some of the fees payable for PayPal accounts in certain situations:
- Currently, when you send money internationally with your PayPal account, depending on your payment method, you would either pay:
- $5.99 AUD; or
- $5.99 AUD, plus 2.6% of the amount you’re sending, plus a fixed fee based on the currency you’re sending
- Now, the fee will also depend on the amount you’re sending, as shown in the table below.
$100.00 AUD or more
PayPal balance or Australian bank account
Any portion funded by a card
$0.99 AUD +
$2.99 AUD +
$5.99 AUD +
The fixed fees for each currency can be found in clause 18.9.
- We have introduced a fixed fee, chargeback fee and eCheque fee for Malaysian Ringgit:
- Fixed fee: 2.0 MYR, and 0.2 MYR for Micropayments
- Chargeback fee: 40 MYR
- eCheque fee: 150 MYR
- A Personal Transaction fixed fee of 0.60 BRL for sending Brazilian Real has been introduced.
- Mass Pay and Payouts are no longer available for Chinese Yuan.
We’ve also clarified how we convert currency, and when and how refunds are processed, including returning funds directly to your linked bank account and how currency conversions work when you made the original payment in a foreign currency.
To review the updated Combined FSG and PDS, please click HERE.
Our updated Privacy Statement will be effective on 17 November 2018. We encourage you to review the new Privacy Statement in advance by clicking here.
Updates to the PayPal Recurring Payment and Billing Agreement, and Electronic Fund Transfer Rights and Error Resolution Policy
To simplify your navigation of our legal agreements, we’ve incorporated the terms of the PayPal Recurring Payment and Billing Agreement, and Electronic Fund Transfer Rights and Error Resolution Policy into the body of the User Agreement. We haven’t changed what we said, just where you can find it.