Policy Updates

 

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Policy Updates

 

 

Notice of Amendment to PayPal Legal Agreements

Issued: August 1, 2019 (for Effective Dates see each individual agreement below)

Please read this document.

We’re making changes to the legal agreements that govern your relationship with PayPal.

We encourage you to carefully review this notice to familiarise yourself with the changes that are being made.

There is no further action needed from you as these changes will take place automatically on the Effective Dates shown below. In the event you would prefer to decline these changes and close your account, you can do so prior to the Effective Date without incurring any additional charges.

 

Notice of amendment to the PayPal User Agreement.

Effective Date: October 21, 2019

You can find the PayPal User Agreement currently in force by clicking here or accessing it via the “Legal” or “Legal Agreements” footer on most PayPal site pages.

1. Fees – Currency Conversion Fees

We are increasing:

  • the Currency Conversion Fee at section A3.1.1 in Schedule 1 (Table of Fees) from 2.5% to 3.0%.

Section A3.1 (Currency Conversion) in Schedule 1 (Table of Fees) now reads as follows (with amendments underlined):

Activity or Event

Fee

A3.1 Currency Conversion

A3.1.1 For currency conversions of amounts in your PayPal account that do not form part of a specific transaction into or out of your account (e.g. converting your balance to another currency) and for transactions involving a currency conversion for which the seller has agreed to bear the conversion fee:

3.0% above the base exchange rate (to form the transaction exchange rate) 

A3.1.2 For all other transactions involving a currency conversion and for which the seller has not agreed to bear the conversion fee (including conversion of amounts returned to you as refunds or refused payments): 


4.0% above the base exchange rate (to form the transaction exchange rate)