Upcoming Policy Updates

 

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Policy Updates

This page informs customers in advance of important changes to the PayPal service, our User Agreement, or other policies. This page displays policy updates with future effective dates. Go to “Past Policy Updates” for previous policy updates.

 

AMENDMENTS TO THE PAYPAL USER AGREEMENT

Effective Date: July 7, 2017
 

PayPal is making some changes to its User Agreement that will be effective for all PayPal customers on July 7, 2017.  We encourage you to review this Policy Update and familiarize yourself with the changes that are being made.  If you do not agree to these amendments, you may terminate your relationship with us by closing your account before July 7, 2017. 

 

Amendments to the PayPal User Agreement

A summary of changes is provided.

  • Updating our set off rights
    We are updating our rights in section 5.5 to allow us to debit a PayPal account when an amount owed to PayPal, our affiliates or eBay, Inc. becomes past due.
  • Changing our currency conversion rates
    In section 8.8 Additional Fees, we are changing the currency conversion fee for “Any other transaction requiring a currency conversion of Canadian Dollars to U.S. Dollars” from 2.75% to 3.0% added to the wholesale exchange rate.
  • Updating our seller protection
    We are updating the basic requirements for Seller Protection in section 11.3(a) by requiring that you must respond to PayPal’s request for documentation and other information in a timely manner or you may not be eligible for Seller Protection.

    We are also updating the eligibility requirements for Seller Protection in section 11.5.  Transactions that will no longer be eligible are:
    • Donations.
    • Financial products or investments of any kind.
    • Payments sent using PayPal’s friends and family functionality.
    • Payments made using PayPal Payouts and Mass Pay.
       
  • Purchase Protection
    We are updating the eligibility requirements for Purchase Protection in section 13.2 to require that you must respond to PayPal’s request for documentation and other information in a timely manner.

    We are also updating the list of items that are not eligible for Purchase Protection in section 13.3.  Transactions that are no longer eligible are:
    • Financial products or investments of any kind.
    • Donations.
    • Payments sent using PayPal’s friends and family functionality.
    • Payments made using PayPal Payouts and Mass Pay or guest checkout transactions (i.e., payments not sent using your PayPal account).

Amendments to the Website Payments Pro and Virtual Terminal

A summary of changes is provided.

  • Data breaches
    We are updating your obligation in s. 3(a) to report data breaches or incidents to PayPal immediately after discovery of the incident.