Upcoming Policy Updates

 

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Policy Updates

 

This page displays policy updates informing users in advance of important changes to the PayPal service, its User Agreement, or other policies. Please go to “Past Policy Updates” for previous policy updates.

 

 

AMENDMENTS TO THE PAYPAL ACCOUNT USER AGREEMENT AND THE PAYPAL WEBSITE PAYMENTS PRO AND VIRTUAL TERMINAL AGREEMENT

We are updating the PayPal agreements listed below for all PayPal users in Canada. The changes described below will go into effect on September 6, 2019, unless otherwise noted. There is no action needed from you, as the changes will occur automatically on the effective date noted. In the event you would prefer to decline the changes and close your account, you can do so prior to the effective date and the changes will not apply to you. 

Amendments to the PayPal Account User Agreement

  • We are clarifying that we will provide at least 90 days’ notice to Business Account holders of the introduction of a new fee or an increase of an existing fee related to credit or debit card transactions which apply to them.
  • For transactions that involve a PayPal currency conversion when you pay for goods or services or send money, the currency conversion fee will be a minimum of 3.5% for Canadian or U.S. dollars, and will be a minimum of 4% for all other currencies.  This change will become effective on September 9, 2019.
  • We are changing the currency conversion fee to be a minimum of 3% for all other transactions involving a currency conversion. This change will become effective on September 9, 2019.

Amendments to the PayPal Website Payments Pro and Virtual Terminal Agreement

  • We are providing the terms and conditions for our Account Updater functionality, which allows merchants to update their Canadian customers’ eligible card data stored with PayPal to enable the seamless processing of recurring and other transactions.
  • We are clarifying that we will provide at least 90 days’ notice to Merchants of the introduction of a new fee or an increase of an existing fee related to credit or debit card transactions which apply to them.
  • We are changing the PayPal currency conversion fee to be 3% for all transactions involving a PayPal currency conversion. This change will become effective on September 9, 2019.