Users of the popular payment service PayPal have to expect new fees in some countries. The guidelines now presented will be effective as of December 16th, 2020.
The operators of the online payment service PayPal have announced an adjustment of their guidelines for the middle of December. This includes the announcement that fees will be charged for inactive accounts in the future. The company considers inactive accounts to be those where no logins or money transfers have been recorded for twelve consecutive months.
Depending on the country, these are a maximum of €12 or £12, or the amount available in your PayPal account. So if there is only £4 in the account, only £4 will be debited. If only a bank account or a credit card is connected to the account and there are no amounts available on the actual PayPal account, no fees will be taken. So the maximum of £12 will only be deducted from an existing balance of the respective PayPal account.
PayPal: fees for inactive accounts
Users in Germany and Austria are, according to the company’s statements to DerStandard, not affected by the new regulation. There are no references to it in the German guidelines so far, but the situation is different in several other countries, including Great Britain.
PayPal writes the following in the updated user agreement:
The inactivity fee applies to users registered in United Kingdom, Bulgaria, Cyprus, Czech Republic, Estonia, Gibraltar, Greece, Guernsey, Hungary (Corporate Customers only) Isle of Man, Jersey, Latvia, Liechtenstein, Lithuania, Malta, Romania, San Marino, Slovakia, Slovenia.
According to PayPal, affected users will be informed several times about possible fees. These notifications will be made 60 days, 30 days, and one week in advance. As mentioned above, the fee can be prevented by a login. You should then transfer any amounts that are directly available in your PayPal account to another account.
Possibly the adjustments will be extended to other countries in the future. German users for example should therefore keep a close eye on further updates of the PayPal guidelines in the coming months.