Paypal

[#1]

Like others who use PayPal I have just had a email to say that from 1st January the conditions regarding accounts are changing for the UK and several other places not in the EU.

The document covering these changes runs to 58 pages and contains much of the usual legal jargon which basically says they are not going to be responsible for x,y or z happening.

I doubt any of you can be bothered to read this 58 page tome but if you do is there anything that private buyers need to be concerned about that did not exist prior to these changes.

[#2]

I haven't had it -yet - but is there not a summary of applicable changes either in the email, or within a link?

[#3]

Like so much online stuff it's Hobsons choice.

Click and accept... or don't click and collect.

Pays (Pal) to keep and eye on these things but as you say with all those pages of terms and conditions to read?

They're having a larf. 

[#4]

@jab1 

Not noticed any links to a summary, there may well be one but there were several links to other detailed conditions which I did not open.

@Minivanman 

Like a number of companies they word things in such a way that any problems rest with the user, either buyer or seller, one bit I did notice which may have been in the existing document is their decision is final in any dispute unless new information is available.

On a more general note much more paperwork is going to be needed from January, lucky the government has agreed to plant lots more trees.

😀

[#5]

@gleneagles Actually, you could be correct. Looking back, I received that email on Dec. 16, had a quick read, and couldn't find much.

I suspect the main changes will be in how they work if you are using PayPal to make payments to EU firms, which I assume will change, but probably not enough to worry a private buyer/seller - but I could be wrong.

[#6]

Does this include t&c's referring to the dormancy account charge? Abut £10- £12pa if I remember, if you haven't used your card within 12 months.

[#7]

That is referenced in the current T&Cs, definitely.

[#8]

You mention the EU @jab1 

They have changed and not looked at the details and only noted in the email where it says that "due to the United Kingdom’s exit from the European Union we have created a User Agreement which applies only to PayPal accounts of residents of the United Kingdom (UK), Gibraltar, Guernsey, Isle of Man and Jersey".

[#9]

I've no intention of reading their 58 pages of T&Cs, I haven't got a PayPal card, just basic accounts with zero balance.

I said accounts plural because I've got two dormant ones which haven't been used for years (only ever once each I think), both of which have led me to receiving an email in the last couple of weeks (10 days apart) with the subject "Be one of the first 33,000 to get a £5 Reward. Offer Ends 31 Dec 2020." which simply involved clicking a link.

Result - £5 credited by PayPal to each of them, second one received this afternoon.

I sent both £5's to my main PP account and withdrew the money to my bank account - because I have no bank account linked with the two dormant PP accounts and I never leave a balance in my main PP account.

So I'm £10 richer, TYVM PayPal  

Edit: typo

[#10]

Ah, so that explains some of the 'currency conversion' charge bits, which I thought looked different, but it's a while since I bothered to look at the full T&Cs, do maybe my memory is playing tricks (wouldn't surprise me )

[#11]

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@jab1 wrote:

Ah, so that explains some of the 'currency conversion' charge bits, ...

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I imagine you're wise enough not to pay PayPal currency conversion charges when making purchases @jab1 , but for those who don't know, it's better to use a credit card such as Halifax Clarity (e.g. on eBay) which don't charge such fees.

Once bitten, twice shy, I found that PP charge rip-off rates for those.

[#12]

IF I buy from abroad after 01/01/20 - payment will definitely not be via PP, but that is a very rare occurrence anyway. Only thing I've bought from a non-UK source this year was my Zorin OS laptop, and that was in October - from Holland.

[#13]

Some good news from PP today, as of 01/01/2021, They will be regulated by the FCA instead of the Luxembourg regulator . I had a big ding dong with them this year and went to the Financial Ombudsman, but was told to take it up with Luxembourg.