Policy Updates

 

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Policy Updates

 

 

 

Changes to PayPal Legal Agreements

PayPal is changing some of its Legal Agreements with effect from 15 November 2019 (“Effective Date”). We’ve created this policy update to help you understand the changes. By continuing to use the PayPal Services after the Effective Date, you are agreeing to the changes. If you do not agree to the changes, you must close your account or cease using the PayPal Services prior to the Effective Date.

Updates to the User Agreement for PayPal Services – Effective Date: 15 November 2019

We’re making the following substantive changes to our terms:

  • Exhibit A Fees
  1. We’re removing the range of Merchant Rates for both domestic and international payments* set out in clause 2 “Commercial Payments Fee,” except for the following countries or regions in which the Merchant rate is still available: Mainland China and Japan (“Applicable Countries or Regions”). Merchants domiciled in the Applicable Countries or Regions will now pay our Standard Rate for transactions.
    * Effective date of change for Malaysia is subject to regulatory approval.
  2. We have changed the fee applicable to certain countries or regions for balance withdrawal to US bank account in the “Withdrawing your Balance” section of Clause 4 “Additional Fees”.  From the above Effective Date, balance withdrawal to US bank account by users in Israel will be subject to the fee of USD35 per withdrawal. Balance withdrawal to US bank account by users in United Arab Emirates, Morocco, Kenya, Colombia, Argentina, Costa Rica, Peru, Chile, Dominican Republic will be subject to 2.50% fee.
  3. We have clarified the fee for withdrawals using the functionality directly available in PayPal Accounts by the users in United Arab Emirates, Morocco, Kenya, Colombia, Argentina, Costa Rica, Peru, Chile, Dominican Republic in the “Withdrawing your balance” section of Clause 4 “Additional Fees”

 To review the updated User Agreement, please Click Here.