PayPal User Agreement

 

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PayPal Pools Terms & Conditions

 

By creating a PayPal Money box (or “Money box Program”), you agree to these terms and conditions (“Terms”). The User Agreement ;is incorporated by reference into these Terms. As much as possible, the Terms and the User Agreement should be interpreted as a consistent whole. Where expressly superseded or where a conflict cannot be reconciled, these Terms take precedence over the User Agreement to the extent of the conflict. The Money box Program should be used only with a PayPal Personal Account and not a Business Account.

The Money box Program allows you to collect money from friends for a specific purpose, like giving a group gift to someone, buying tickets for an event, or sharing expenses for a planned trip. When you collect funds through a Money box, the funds will be held in your PayPal Account (“Account”) in a separate e-money Balance which is a Reserve Account portion of your Account under the User Agreement and needs to be treated separately by you. The funds in this separate e-money Balance must be first transferred to the Payment Account portion of your Paypal Account (in all cases only only for the stated purposes of the Money box)to complete transactions, to be used to pay for purchases or to be withdrawn to a linked bank account. It is your responsibility to keep the funds separate and only to use the funds for the specific purpose of the Money box.

For each Money box, you’ll create a unique webpage (“Money box Page”) where you can name your Money box, post a description and/or image, display contributors, and display and follow the progress toward your Money box ’s goal amount. You may send a note to contributors to thank them for contributing to your Money box, or to update them on the Money box Goal’s progress or completion. PayPal reserves the right to restrict these funds in the event they are not used for their intended purpose in accordance with section 4.2 and section 10 of the User Agreement and/or Acceptable Use Policy.

If your PayPal Account goes negative, and you have funds which have been, will be or are being paid into your separate e-money Balance because of one or more Money boxes, PayPal reserves the right to set off your negative balance by drawing upon your Money box funds up to the amount that you owe, and/or by exercising any of PayPal’s set off rights pursuant to the User Agreement.

Your rights and obligations as a contributor to or beneficiary of a Money box

All contributions of funds to a Money box are done at the contributor’s own risk and PayPal bears no liability whatsoever in this regard. If the funds contributed are not used for the stated purpose, the contributor’s only recourse is against the person who created the Money box. PayPal will not monitor the use of the funds is in accordance with the stated use. PayPal has no liability whatsoever towards any beneficiary of the Money box.

Limitations and Prohibited Uses

The Money box Program is not a separate PayPal account and it is not a bank account, collective investment, investment or savings account. You will not earn interest on funds you collect for a Money box . Money boxes are intended for short-term use, and are not meant to be used for long-term or indefinite holding of funds. You may not use Money boxes for any activity or purpose prohibited by PayPal’s Acceptable Use Policy.

You may not use Money boxes for crowdfunding or for the sale of goods or services. You may not offer any incentive, return, interest, benefit, “rewards” or “perks” in return for a contribution to your Money box . Contributions made to a Money box are considered e-money personal payments and are not eligible for PayPal Buyer Protection. You may not use Money boxes for marketing or promotional purposes.

You may not use Money boxes funds for purposes other than the stated purpose of your Money box as listed on your Money box Page. If we determine, in our sole discretion, that you are using the Money boxes Program for any purpose not permitted under these terms, PayPal reserves the right to limit, restrict, or close your account pursuant to section 4.2 or section 10 of the User Agreement. PayPal is, however, under no obligation, to monitor the use of the funds collected in the Money box and will incur no liability whatsoever if the Funds are not used as required by the stated purposes of the Money box. PayPal is not liable and assumes no rights, title or obligations in relation to the funds collected in the Money box which are personal payments received by You from your contributors. Any disputes with contributors in relation to the Money box or your use of the funds in the Money box are Your responsibility and no right, title or interest arises in the funds by the contributors who make the personal payment at their risk.

Sharing Personal Information

When setting up a Money box, your name, PayPal profile photo, and the total amount you have collected may be displayed on your Money box page, in addition to any cover image and/or Money box description that you add when creating or modifying your Money box . You also have the option of including the names, profile photos, and contribution amounts of other individuals who contribute on your Money box (“Contributor Information”). Each contributor will be able to choose whether or not his or her information will appear on your Money box Page if you choose to display contributor information on your page.

Your use of contributor information is subject to PayPal’s User Agreement and Privacy Policy. You may not reproduce contributor information on other websites or pages without the consent of your contributors for such sharing and use.

Termination of Money box Program

PayPal has the right, at any time and in its sole discretion, and with reasonable prior notice, to terminate, cancel, suspend or modify the Money box Program or modify these Terms with reasonable prior notice. In the event the Money box Program is terminated, we will maintain existing Money boxes.