Author Topic: Paypal  (Read 150 times)

Raven

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Paypal
« on: Oct 15, 2020, 04:20:59 PM »

Pay Pal users For those that have an account with PayPal but haven't used it for a while - Beware. They are going to put a charge on your account. See here Quote: PayPal is set to introduce an annual fee of up to £12 for users whose accounts have been inactive for a year or more but you can avoid the charge by logging into your account before the deadline in December. From 16 December 2020, PayPal users will be charged the fee if their accounts have been inactive for at least 12 consecutive months. PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account. If your account has been inactive for over 12 months, the fee you're charged will be the lesser of £12 or your entire PayPal balance. If you don't have any money in your PayPal account, or your balance is negative, PayPal says you won't be charged a fee (even if you have a credit or debit card linked to the account).You can avoid being charged by logging into your PayPal account (or making a transaction) on or before 15 December 2020, before the fee is introduced on 16 December 2020.

prestbury

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Re: Paypal
« Reply #1 on: Oct 15, 2020, 04:57:28 PM »
Suppose it makes some sense, like most things in life, use it or lose it.

Raven

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Re: Paypal
« Reply #2 on: Oct 15, 2020, 05:08:55 PM »
Suppose it makes some sense, like most things in life, use it or lose it.


Yes true, I'm on Ebay a lot so I use it often but some people may have just stopped and left theirs. Better to either log in or close it altogether.

Ashy

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Re: Paypal
« Reply #3 on: Oct 15, 2020, 05:18:42 PM »
Thanks for the info.
Stand up, or give up.

Michael Rolls

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Re: Paypal
« Reply #4 on: Oct 15, 2020, 10:36:32 PM »
Thanks for letting folk know, Raven. Personally, I use PayPal most weeks so should be OK
Mike
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GrannyMac

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Re: Paypal
« Reply #5 on: Oct 15, 2020, 10:48:20 PM »
Think I may have opened an account, but I've never used it.  I'll check. Thanks for the heads up Raven.

Michael Rolls

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Re: Paypal
« Reply #6 on: Oct 15, 2020, 10:54:25 PM »
Each month I get a reminder that thereís money in my account, and so there is. £0.01
Donít know how it got there, but I donít intend to let it change my way of life!
Mike
The older I get, the better I was!

Temperence

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Re: Paypal
« Reply #7 on: Oct 15, 2020, 11:02:16 PM »
Thanks for the heads up. I do use mine quite often for buying on Ebay.
The only thing necessary for the triumph of evil is for good men to do nothing

Alex22

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Re: Paypal
« Reply #8 on: Oct 16, 2020, 05:24:45 PM »
Thanks Raven I've got a Paypal account too, I didn't know about this.  👍

biglouis

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Re: Paypal
« Reply #9 on: Oct 17, 2020, 02:40:07 AM »
Not much danger of my Paypal account being unused for more than a day.
Rules are for the guidance of wise men and the blind obedience of fools.

klondike

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Re: Paypal
« Reply #10 on: Oct 17, 2020, 08:02:56 AM »
PayPal were rather coy about this. There was an email a week of so back about changing terms and a link to the new ones which doubtless like 99% of others I didn't check as PayPal is useful and the only option to agreeing is closing the account which then means you won't be using eBay as few sellers offer anything but PayPal.

I first saw the warning of the inactivity clause in a Money Saving Expert email. It means nothing for the vast majority as they will only take from a PayPal balance if the account wasn't used for a year and should you buy anything the default is to use the PayPal balance.

I just retrieved the old email and got the link to the new terms
https://www.paypal.com/uk/webapps/mpp/ua/upcoming-policies-full?locale.x=en_GB&utm_source=epsilon&utm_campaign=A_EP_GLOBAL__72466_B2C_B2B_Q4_2020_UA_EMEA_UK1_Territories_6_months_GB_en_GB&utm_medium=email
The new inactivity activity clause is there but right down the bottom. My bet is that they are looking to scoop up a few quid from the accounts of the deceased. In effect they already have all that money but at some point beneficiaries may find it and take it out.