Policy Updates

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Policy Updates

Notice of Amendment to PayPal Legal Agreements

Issued: June 16, 2020

Please read this document.

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

We encourage you to carefully review the notices below so that you are familiar with these upcoming changes.

There is no further action needed from you as these changes will take place automatically on

September 14, 2020.

In the event you would prefer to decline these changes and close your account, you can do so prior to September 14, 2020 without incurring any additional charges.

All changes and updates to the legal agreements are on this page highlighted in italic. This highlighting shall ensure better traceability of the changes and updates applied.

Amendments made for linguistic adjustment, to correct or remove orthographical and grammatical mistakes, or changes to the formatting are not highlighted. This does also apply where we have corrected or standardized numbering and references.

Updates to the PayPal User Agreement

Effective date: September 14, 2020

Please click HERE to view an updated copy of the intended changes.

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

Making A Payment – Buyer Protection

In this section, we have re-introduced the PayPal Buyer Protection Policy into the user agreement and reworded its terms for global alignment.

Receiving Payments – Impact of PayPal Buyer Protection on Sellers

We have amended the wording in the "Impact of PayPal Buyer Protection on Sellers" sub-section: If you are a seller and lose a claim under PayPal Buyer Protection and the buyer’s claim was that the item received was Significantly Not as Described, you may not receive the item back, or you may be required to accept the item back and pay for the return shipping costs.

Schedule 1: Table of Fees

A2.4./A2.5. Receiving Payments Through QR Codes in Person

We have introduced new section A2.4./A2.5. in our Table of Fees outlining the fees that will apply to (casual) sellers for receiving payments through our new QR code solution.

Updates to the PayPal Business Debit Mastercard Cardholder Agreement

Effective date: September 14, 2020

12. Cashback program

In section 12 we have added the following wording as the new second paragraph:

From time to time, we might increase the cashback rate (for example to 1 %) for a limited period of time. We will announce such promotional campaigns with an increased cashback rate (including eligibility criteria) in email and/or on our website to you.

Further, we have added three bullet point to the list of "Eligible Payments":

any form of payment to governmental bodies or agencies and tax authorities, including but not limited to payments to HMRC and any tax related payments;

securities, stocks, funds, savings and investments or any other form of tradable commodities;

payments to any other financial institution, including but not limited to the payment of loans, credit card payments, purchase of financial products and issuance of cheques.

14. Authorisation holds

In section 14, we have amended the wording on authorisation holds by removing outdated wording and adding new wording:

When you use your Card to purchase goods or services or to obtain cash from a merchant, the merchant may attempt to obtain preauthorisation from us for the transaction. If the merchant makes such a request, we place a hold on your PayPal balance for up to thirty one (31) days for the amount of the preauthorisation request (which may vary in some cases from the amount of the actual purchase, depending on the merchant). This hold may affect the availability of funds in your PayPal account. If you authorise a transaction and then fail to make a purchase of that item as planned, the approval may result in a hold for that amount of funds for up to thirty one (31) days. All transactions relating to car rentals may result in a hold for that amount of funds for up to sixty (60) (effective 14 September 2020, another thirty (30)) days. We will not be responsible if any transactions are not completed because of the hold. If the preauthorisation request varies from the amount of the actual transaction, we will debit the actual transaction amount from your PayPal balance.

Terms for Access to Bank Account Data

We are newly introducing Terms for Access to Bank Account Data.