Effective date: 10 May 2018
PayPal is changing some of its Legal Agreements with effect from 10 May 2018. We’ve created this policy update to help you understand the material changes. By continuing to use our services 10 May 2018, you are agreeing to the changes. If you decide not to accept the changes, you can notify us before 10 May 2018 to close your account.
· More Detailed Explanations: We’ve included more details about important features of our services and when you connect your PayPal account to third-party websites and platforms.
· Customized Experiences and Marketing: We clarified our marketing analytics practices to make it easier for you to understand how we and others we engage may provide you with targeted offers from PayPal, customized experiences and advertising on PayPal properties and on third party sites. We also explain how you can choose to limit your participation in these programs.
We’re changing some of the fees we charge for certain services.
Withdrawal of funds to an US bank account will attract fees in accordance to the following table
Withdrawal Method: Country Fees
Withdrawals you make to your U.S. bank account. All countries except as listed below. Free
Singapore, Philippines, Indonesia, Thailand, and China USD 35 per withdrawal
New Zealand, Republic of South Korea, Taiwan, Japan 2.50%
We’re changing some of the fees we charge for Personal Payments (where available).
We are changing the Personal Payments Fees applicable and the following text shall be inserted in Annex A by replacing the current section on Personal Payments Fee:
Personal Payments Fee.
a. Personal Payments are payments to friends or family members such as your share of the rent or a dinner bill.
b. Personal Payments are limited in availability and are not available in most countries.
c. If you use your credit card as the Payment Method for a Personal Payment, you may be charged a cash-advance fee by your credit card company.
d. The Fee is borne by the sender.
Activity Country of Sender Country of Recipient Personal Payments Fee when Payment Method is exclusively Balance or Bank
Sending or Receiving Domestic Payments Where Available Where Available Free
Sending or Receiving International Payments Iceland, Monaco, Croatia, Moldova, Montenegro, Macedonia, Ukraine, Andorra, Albania, Bosnia and Herzegovina United States, Canada, Northern Europe*, Europe I**, or Europe II*** 1.99 EUR
Any other country 3.99 EUR
Any Other Country Any Other Country 4.99 USD
* Northern Europe: Denmark, Faroe Islands, Finland (including Aland Islands), Greenland, Iceland, Norway, Sweden.
** Europe I: Austria, Belgium, Cyprus, Estonia, France (including French Guiana, Guadeloupe, Martinique, Reunion and Mayotte), Germany, Gibraltar, Greece, Ireland, Italy, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Portugal, San Marino, Slovakia, Slovenia, Spain, United Kingdom (including Channel Islands and Isle of Man), Vatican City State.
*** Europe II: Albania, Andorra, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Georgia, Hungary, Kosovo, Latvia, Liechtenstein, Lithuania, Macedonia, Moldova, Poland, Romania, Russia, Switzerland, Ukraine.
Clarifications in Treatment of Personal Data
Changes in Commercial Payments Fee for Korea
We are increasing the Commercial Payments Fee for Korea .
Seller protection for digital goods in Indonesia, Philippines, Singapore, Thailand, Korea, and Taiwan
We have also expanded the scope of seller protection to include eligible transactions for digital goods and have amended our User Agreement to reflect this.
Currency Conversion Fee
The clause on Currency Conversion is amended and the following text shall be inserted in Annex A by replacing the first paragraph in the current Currency Conversion language:
Where a currency conversion is required, it will be completed at the transaction exchange rate we set for the relevant currency exchange. The transaction exchange rate is adjusted regularly and includes a Currency Conversion Fee applied and retained by us on a base exchange rate to form the rate applicable to your conversion. The base exchange rate is based on rates within the wholesale currency markets on the conversion day or the prior business day; or, if required by law or regulation, set at the relevant government reference rate(s). The transaction exchange rate applicable to your conversion may be applied immediately and without notice to you.
Thank you for being a PayPal customer.
Effective date: 10 May 2018