Policy Updates

 

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Policy Updates

 

This page informs users in advance of important changes to the PayPal Service, its User Agreement, or other policies. We encourage you to review this Policy Update to familiarize yourself with all of the changes that are being made to the PayPal User Agreement. These updates will be posted at least 30 days prior to their effective date.

 

Amendment to the PayPal User Agreement

Effective Date: February 24, 2015

  1. Paragraph “Withdrawing your balance” in Section 3 (“Additional Fees”) in Exhibit A (“Fees”) of the PayPal User Agreement will be amended as follow in order to specific a Bank Return Fee on Withdrawal for Iceland and Croatia:
     

    Withdrawing your Balance

    Withdrawal Method:

    Fee:

    Withdrawals you make to your U.S. bank account.

    Free

    Automatic transfers we make to your credit card or U.S. bank account.

    Free

    Withdrawals you make to your local bank account.

    Withdrawals you make to your credit card.

    Withdrawal via a physical check sent to you.

    Return Fee if the withdrawal information you provided is incorrect or incomplete.

    Fee varies by country. See Fee Page and select the appropriate country to view Fees.

    Bank Return Fee on Withdrawal in Iceland and Croatia: 3.00 EUR

    If you withdraw your balance in a currency other than the currency in which the balance on your Account is denominated, you will additionally be charged Currency Conversion Fees as set out above.

    Withdrawal via PayPal Retiros

    Please see terms and conditions of service.

    Withdrawals you make in USD to your USD- denominated Taiwan bank account using a PayPal partner bank withdrawal service.

    2.5% of the withdrawal amount

     

  1. Paragraph “Currency Conversion” in Section 3 (“Additional Fees”) in Exhibit 1 (“Fees”) of the PayPal User Agreement will be amended as follow in order to update the currency conversion fee for Anguilla, Antigua and Barbuda, Belize, Bolivia, Dominica, Falkland Islands, Grenada, Guyana, Montserrat, Netherlands Antilles, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Turks and Caicos Islands and Virgin Islands:
     

    Currency Conversion

    Country:

    Fee:

    All countries except as listed below.

    2.5% (added to the exchange rate)

    Anguilla, Antigua and Barbuda, Argentina, Aruba, Bahamas, Barbados, Belize, Bermuda, Bolivia, Cayman Islands, Chile, Colombia, Costa Rica, Dominica, Dominican Republic, Ecuador, El Salvador, Falkland Islands, Grenada, Guatemala, Guyana, Honduras, Jamaica, Mexico, Montserrat, Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad & Tobago, Turks and Caicos Islands, Uruguay, Venezuela, Virgin Islands.

    3.5% (added to the exchange rate)

    Algeria, Angola, Bahrain, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Chad, Comoros, Congo, Democratic Rep of the Congo, Cook Islands, Djibouti, Egypt, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Ivory Coast, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Oman, Qatar, Rwanda, Sao Tome And Principe, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, St. Helena, Swaziland, Tajikistan, Tanzania, Togo, Tunisia, Turkmenistan, Uganda, United Arab Emirates, Yemen, Zambia, Zimbabwe

    Currency Conversion that occurs when sending a Personal or a Commercial Payment:

    3.5% added to the exchange rate.

    Currency conversion that occurs when receiving other payments (including Mass Payments or Payouts), withdrawing funds to your local bank account (if your PayPal balance is held in a currency other than your local currency), adding funds from a bank account to your PayPal Account or when transferring funds between your PayPal balances held in different currencies (as applicable);

    2.5% added to the exchange rate

    Albania, Andorra, Belarus, Bosnia and Herzegovina, Croatia, Georgia, Iceland, Macedonia, Moldova, Montenegro, Serbia, Turkey, Ukraine.

    Currency Conversion that occurs when sending a Personal or a Commercial Payment:

    4% added to the exchange rate.

    Currency conversion that occurs when receiving other payments (including Mass Payments or Payouts), withdrawing funds to your local bank account (if your PayPal balance is held in a currency other than your local currency, adding funds from a bank account to your PayPal Account or when transferring funds between your PayPal balances held in different currencies (as applicable);

    2.5% added to the exchange rate

    Bhutan, Cambodia, China, Federated States of Micronesia, Hong Kong, India, Indonesia, Japan, Korea, Laos, Malaysia, Maldives, Mongolia, Nepal, New Zealand, Philippines, Samoa, Singapore, Sri Lanka, Taiwan, Thailand, Tonga, Vietnam

    Currency Conversion that occurs when sending a Personal or a Commercial Payment:

    The Fee depends on the currency into which the amount is converted, as listed in the table below and is added to the exchange rate.

    Currency:

    Fee:

    Argentine Peso:

    4%

    Australian Dollar:

    4%

    Brazilian Real:

    4%

    Canadian Dollar:

    3.5%

    Czech Koruna:

    4%

    Danish Kroner:

    4%

    Euro:

    4%

    Hong Kong Dollar:

    4%

    Hungarian Forint:

    4%

    Indian Rupee:

    4%

    Israeli New Shekel:

    4%

    Japanese Yen:

    4%

    Malaysian Ringgit

    4%

    Mexican Peso:

    4%

    New Zealand Dollar:

    4%

    Norwegian Krone:

    4%

    Philippine Peso:

    4%

    Polish Zloty:

    4%

    Russian Ruble:

    3.5%

    Singapore Dollar:

    4%

    Swedish Krona:

    4%

    Swiss Franc:

    4%

    New Taiwan Dollar:

    4%

    Thai Baht:

    4%

    Turkish Lira:

    4%

    U.K. Pounds Sterling:

    4%

    U.S. Dollar:

    3.5%

    Currency conversion that occurs when receiving other payments (including Mass Payments or Payouts), withdrawing funds to your local bank account (if your PayPal balance is held in a currency other than your local currency), adding funds from a bank account to your PayPal Account or when transferring funds between your PayPal balances held in different currencies (as applicable)

    2.5% added to the exchange rate

    Monaco

    Currency Conversion that occurs when sending a Personal or a Commercial Payment:

    2.5% above the wholesale exchange rate

    Currency conversion that occurs when receiving other payments (including Mass Payments or Payouts), withdrawing funds to your local bank account (if your PayPal balance is held in a currency other than your local currency), adding funds from a bank account to your PayPal Account or when transferring funds between your PayPal balances held in different currencies (as applicable)

    Between 3.0% and 4.0% above the wholesale exchange rate depending on the currency into which the relevant amount is converted (please refer to the table below).

    Currency and Code

    Currency Conversion Fee

    Argentine Peso (ARS):

    4.0%

    Australian Dollar (AUD):

    4.0%

    Brazilian Real (BRL):

    4.0%

    Canadian Dollar (CAD):

    3.0%

    Czech Koruna (CZK):

    3.5%

    Danish Krone (DKK):

    3.5%

    Euro (EUR):

    3.5%

    Hong Kong Dollar (HKD):

    4.0%

    Hungarian Forint (HUF):

    3.5%

    Israeli Shekel (ILS):

    4.0%

    Japanese Yen (JPY):

    4.0%

    Malaysian Ringgit (MYR):

    4.0%

    Mexican Peso (MXN):

    4.0%

    New Zealand Dollar (NZD):

    4.0%

    Norwegian Krone (NOK):

    3.5%

    Philippine Peso (PHP):

    4.0%

    Polish Zlotych (PLN):

    3.5%

    Russian Ruble (RUB):

    3.5%

    Swedish Krona (SEK):

    3.5%

    Swiss Franc (CHF):

    3.5%

    Taiwan New Dollar (TWD):

    4.0%

    Thai Baht (THB):

    4.0%

    Turkish Lira (TRY):

    3.5%

    U.K. Pounds Sterling (GBP):

    3.5%

    U.S. Dollar (USD):

    3.0%

    When a currency conversion is required, it will be completed at a foreign exchange rate determined by a licensed financial institution, which is adjusted regularly based on market conditions. The exchange rate is adjusted regularly and may be applied immediately and without notice to you. The exchange rate includes a processing Fee expressed as a percentage above the wholesale exchange rate at which PayPal obtains foreign currency, and the processing fee is retained by PayPal. You may have the option (depending on the country you are residing in and the type of funding source) to Opt Out of currency conversion before you complete the transaction by selecting Other Conversion options on the Review Your Information page during checkout.

    Where a currency conversion is offered by PayPal at the point of sale, you will be shown the exchange rate that will be applied to the transaction before you proceed with authorizing the payment transaction. By proceeding with your authorization of the payment transaction you are agreeing to the currency conversion on the basis of the exchange rate. Where a currency conversion is offered at the point of sale by the Merchant, not by PayPal, and you choose to authorize the payment transaction on the basis of the Merchant’s exchange rate and charges, PayPal has no liability to you for that currency conversion.

    Where your payment is funded by a Debit or Credit Card and involves a currency conversion by PayPal, you consent to and authorize PayPal to convert the currency in place of your Credit or Debit card issuer.