Policy Updates

 

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Policy Updates

Last update: May 31, 2018

 

This page shall serve as advance information for PayPal Users with regards to important upcoming changes of PayPal Services, the PayPal User Agreement, and other policies (collectively, the “Legal Agreements”).

Please read this document carefully. PayPal will change the Legal Agreements with effect to August 31, 2018.

You do not need to do anything to accept the changes as they will automatically come into effect on August 31, 2018.

Should you decide you do not wish to accept the changes, you can notify us prior to August 31, 2018 to close your account (https://www.paypal.com/ch/cgi-bin/?&cmd=_close-account) immediately without incurring any additional charges. 

All changes and updates to the Legal Agreements are on this page highlighted in italic. This highlighting shall ensure better traceability of the changes and updates applied.

Amendments made for linguistic adjustment, to correct or remove orthographical and grammatical mistakes, or changes to the formatting are not highlighted. This does also apply where we have corrected or standardized numbering and references.

 

Updates to the User Agreement for paypal service

We are making the following updates to the User Agreement:

 

4.6. How to Withdraw/Redeem E-Money

In clause 4.6., we have amended the wording to read as follows:

You may withdraw funds by electronically transferring them to your Swiss bank account. Withdrawing E-Money from your PayPal Account to your bank account is equal to redeeming E-Money into Swiss francs (CHF).

If you withdraw

  1. a Balance held in a currency other than the original opening currency of your PayPal Account, or
  2. to a bank account held in a currency other than the original opening currency of your PayPal Account

you will be charged a Currency Conversion Fee to convert it to your primary currency Balance.

The original opening currency of your Account is Swiss francs (CHF).

 

Updates to the fees policy

In the Fees Policy, we have applied the following changes:

1.4. Country Groups

The definitions and list of Country Groups has been moved from previously being clause 2.2.2. to now being clause 1.4..

4.1. Currency Conversion Fee

We have adjusted the Currency Conversion Fees for the currencies of Canadian dollars (CAD) and US dollars (USD), both from previously being 3.00% to now being 3.50%.

 

Updates to the PayPal Acceptable Use Policy

We are clarifying the provision of the Acceptable Use Policy related to hate, violence, racial intolerance and the financial exploitation of a crime, and we have amended the provision to read as follows:

[…]

  1. Relate to transactions involving (a) narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, (b) drug paraphernalia, (c) cigarettes, (d) items that encourage, promote, facilitate or instruct others to engage in illegal activity, (e) stolen goods including digital and virtual goods, (f) the promotion of hate, violence, racial or other forms of intolerance that is discriminatory, or the financial exploitation of a crime, (g) items that are considered obscene, (h) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, (i) certain sexually oriented materials or services, (j) ammunition, firearms, or certain firearm parts or accessories, or (k) certain weapons or knives regulated under applicable law;

[…]

The rest of the Acceptable Use Policy remains unchanged.