Policy Updates

 

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Policy Updates

 

This page displays policy updates informing users in advance of important changes to the PayPal service, its User Agreement, or other policies. Please go to “Past Policy Updates” for previous policy updates.

 

 

AMENDMENTS TO THE PAYPAL USER AGREEMENT AND THE ELECTRONIC COMMUNICATIONS DELIVERY POLICY

We are updating the PayPal Account User Agreement and the Electronic Communications Delivery Policy. These changes will go into effect on March 29, 2019 and apply to U.S. PayPal customers. If you agree to these changes, you don’t have to do anything. If you don’t agree with these changes, you may close your account. If you close your account before March 29, 2019, the changes will not apply to you.

 

Amendments to the PayPal User Agreement for Personal PayPal Accounts

  • As a result of a new regulation issued by the Consumer Financial Protection Bureau in Washington, D.C. coming into effect on April 1, 2019, we are making some changes that will affect consumers who want to hold and use balance with PayPal.

    If you want to hold and use balance, you will need a balance account which will be linked to your current PayPal account. PayPal will offer two balance accounts: PayPal Cash and PayPal Cash Plus. Information about both types of balance accounts can be found in the PayPal Cash and PayPal Cash Plus Terms and Conditions.

    If you are an existing personal PayPal account holder and we have already verified your identity, we will establish and automatically link a PayPal Cash Plus account to your current PayPal account. Information about your PayPal Cash Plus account, including your balance amount, will be easily available using your existing PayPal login.

    For all other consumer PayPal account holders, if you want to hold and use balance, in addition to verifying your identity with PayPal, you will need set up a balance account which will be linked to your current PayPal account. 
    There are no changes to any PayPal fees.
  • We are also making two other changes: (1) we are changing the time period for providing you with advance notice about important changes to the PayPal Account User Agreement to at least 21 days; and (2) we are clarifying how and when we convert currency.

 

Amendments to the PayPal User Agreement for Business Accounts

  • We are changing the time period for providing you with notice about important changes to the PayPal Account User Agreements to at least 5 days.
  • We are clarifying how and when we convert currency.

 

Amendments to the Electronic Communications Delivery Policy

We are updating our Electronic Communications Delivery Policy to clarify that your consent to receive electronic disclosures under our Electronic Communications Delivery Policy applies to all PayPal branded accounts