Effective date: 19 October 2016
PayPal is changing some of its Legal Agreements with effect from 19 October 2016. We’ve created this policy update to help you understand the changes that are being made. By continuing to use our services from 19 October 2016, you are agreeing to these changes. If you decide not to accept the changes, you can notify us before 19 October 2016 to close your account.
Set out below are the key changes to the:
- User Agreement, including the Buyer Protection Policy;
- Combined Financial Services Guide and Product Disclosure Statement; and
Change to the User Agreement
We have made one change to the User Agreement. Previously, clause 11.2(c) set out that if you receive funds through PayPal, you must not impose a surcharge or any other fee for accepting PayPal as a payment method.
We have amended clause 11.2(c) in a way that permits you to impose a surcharge or other fee for accepting PayPal as a payment method that does not exceed the amount you pay us for that payment as a percentage of your total price.
For more information on surcharging, read our FAQ.
Changes to the Buyer Protection Policy
The Buyer Protection Policy is contained in Schedule 1 to the User Agreement. In clause S12.1(h), the list of items that are not eligible for protection under the Buyer Protection Policy now includes:
- Businesses (when you buy all or part of a business). This was previously excluded by the Buyer Protection Policy as “sale of business”; and
- Financial products or investments.
Changes to the Combined Financial Services Guide and Product Disclosure Statement
In clauses 18.3 and 18.14 of the Combined Financial Services Guide and Product Disclosure Statement, references to Turkey and the Turkish Lira have been removed as PayPal is no longer operational in Turkey.
In clause 18.8 of the Combined Financial Services Guide and Product Disclosure Statement the Brazilian Commercial Transaction fixed fee is 0.60 BRL.
We have clarified how we share personal information with other parties. If you have opted in to receiving marketing communications from PayPal, members of our corporate family including PayPal Credit, Venmo, and Braintree may use your personal information for marketing communications. Previously, users had to separately request the services of a PayPal corporate family member before they could receive marketing communications from them.
Your personal information may also be shared with financial institutions that we or members of our corporate family partner with to create, offer and market our products or services to you.
You can always opt-out of receiving any marketing communications from PayPal or any of its corporate family members from your PayPal account.