Paypal Account Fees

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mercalia
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Paypal Account Fees

Postby mercalia » 14 Oct 2020, 12:30pm

It seems that Paypal is going to introduce a £12 fee ( max) for inactive accounts from December


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PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account.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).


https://www.moneysavingexpert.com/news/2020/10/paypal-to-introduce-p12-yr-fee-for--inactive--accounts---act-now/

kwackers
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Re: Paypal Account Fees

Postby kwackers » 14 Oct 2020, 1:01pm

mercalia wrote:It seems that Paypal is going to introduce a £12 fee ( max) for inactive accounts from December

Unless I misread that then if you've got nothing in your account you won't be charged anything?

I guess they really just want to close inactive accounts but to do that they need them to be empty.
Charging a fee on any that contain cash is an easy way to empty them.

They must have crunched the numbers, how many people have accounts with cash in they haven't used for over a year?

Cowsham
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Re: Paypal Account Fees

Postby Cowsham » 14 Oct 2020, 1:06pm

Might they be in trouble?

kwackers
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Re: Paypal Account Fees

Postby kwackers » 14 Oct 2020, 1:12pm

Cowsham wrote:Might they be in trouble?

Who PayPal or the people not collecting their cash?

I doubt PayPal are in trouble, looking at the following graph that looks exponential and this year is going to be a bumper year.
Think it's just a cleanout with the chance to make a bit of extra cash whilst they're at it.

Capture.PNG

Cowsham
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Re: Paypal Account Fees

Postby Cowsham » 14 Oct 2020, 3:28pm

kwackers wrote:
Cowsham wrote:Might they be in trouble?

Who PayPal or the people not collecting their cash?

I doubt PayPal are in trouble, looking at the following graph that looks exponential and this year is going to be a bumper year.
Think it's just a cleanout with the chance to make a bit of extra cash whilst they're at it.

Capture.PNG


Yeah looking at the price action on their shares there's no real sign of trouble.

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fausto copy
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Re: Paypal Account Fees

Postby fausto copy » 14 Oct 2020, 4:54pm

I don't do Paypal but am again considering it.
Can someone please explain in nice simple basic English, how the system operates if I link it to a Credit Card.
I can't really grasp the principle of it and their terms and conditions have always put me off.
And apologies if this request is taking it off topic.

kwackers
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Re: Paypal Account Fees

Postby kwackers » 14 Oct 2020, 5:08pm

fausto copy wrote:I don't do Paypal but am again considering it.
Can someone please explain in nice simple basic English, how the system operates if I link it to a Credit Card.
I can't really grasp the principle of it and their terms and conditions have always put me off.
And apologies if this request is taking it off topic.

You buy something, they take the money from your credit card.
That's about it.

Main advantage - you're not handing out credit card details to all and sundry.
Plus when you buy something you can only authorise it via the PayPal website so the seller can't reuse your details later to take more cash.


For taking payment:
I take PayPal on my website - in fact it's all I take.
Advantage to me is that it's easy peasy. In fact a simple html button that goes to PayPal with the amount and my email address is pretty much all that's needed.
Ditto sending money to people, either invoice them or they send money to your email address.

Tangled Metal
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Re: Paypal Account Fees

Postby Tangled Metal » 14 Oct 2020, 5:13pm

I set it up to pay money for a trip to a friend then I believe I removed my debit card having only put the money needed to send to my friend and pay any fees. I then stopped using it possibly deactivated it but possibly not.

I think if there's no card attached, no money in it then there's no issues because they can't take money from the account? If I'm right this news has no relevance to me sad it doesn't affect me since they won't be getting to get fees from me under this rule change. Am I correct in this or should I try logging back on to it to close the account?

Bonefishblues
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Re: Paypal Account Fees

Postby Bonefishblues » 14 Oct 2020, 5:16pm

As we've drifted slightly, PP seem to have launched a 'we'll cover the return cost if you paid for it on PP' scheme.

I used it for the first time today. Money will be credited to my PP account within 5 days they say.

It can be used up to 12x in any 12 month period, up to a max cost per transaction of E15 or £15, I forget.

mercalia
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Re: Paypal Account Fees

Postby mercalia » 14 Oct 2020, 6:12pm

One thing about paypal and credit cards is you lose the credit card protection you get with sales that go wrong as Payal is a third party, but then Paypal has its own way to deal with things I think ( well they do if you buy things on Ebay).

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NATURAL ANKLING
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Re: Paypal Account Fees

Postby NATURAL ANKLING » 8 Nov 2020, 3:14pm

Hi,
You can use to 2FA with PayPal.
Of course you can also use 2FA with your bank account.
The worst thing I think it's happened to me with PayPal is that on one occasion I bought something with PayPal but the money was never handed over meaning I've got it for free.
I mean I was sent the goods Which means they were paid no entry existed in my PayPal account?
No reason to complain there.
Bought three thousand items with pp.
NA Thinks Just End 2 End Return + Bivvy
You'll Still Find Me At The Top Of A Hill
Please forgive the poor Grammar I blame it on my mobile and phat thinkers.

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NATURAL ANKLING
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Re: Paypal Account Fees

Postby NATURAL ANKLING » 8 Nov 2020, 3:16pm

Hi,
mercalia wrote:One thing about paypal and credit cards is you lose the credit card protection you get with sales that go wrong as Payal is a third party, but then Paypal has its own way to deal with things I think ( well they do if you buy things on Ebay).

Same protection buying something for £20 online with PayPal and not through eBay.
NA Thinks Just End 2 End Return + Bivvy
You'll Still Find Me At The Top Of A Hill
Please forgive the poor Grammar I blame it on my mobile and phat thinkers.

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Sweep
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Re: Paypal Account Fees

Postby Sweep » 8 Nov 2020, 3:26pm

Bonefishblues wrote:As we've drifted slightly, PP seem to have launched a 'we'll cover the return cost if you paid for it on PP' scheme.

I used it for the first time today. Money will be credited to my PP account within 5 days they say.

It can be used up to 12x in any 12 month period, up to a max cost per transaction of E15 or £15, I forget.


Where do I find that?

I thought they did that in the past and then dumped the scheme a few years ago?
Sweep

Bonefishblues
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Re: Paypal Account Fees

Postby Bonefishblues » 8 Nov 2020, 3:34pm

Sweep wrote:
Bonefishblues wrote:As we've drifted slightly, PP seem to have launched a 'we'll cover the return cost if you paid for it on PP' scheme.

I used it for the first time today. Money will be credited to my PP account within 5 days they say.

It can be used up to 12x in any 12 month period, up to a max cost per transaction of E15 or £15, I forget.


Where do I find that?

I thought they did that in the past and then dumped the scheme a few years ago?

I don't know if they did that before, but here you go:

https://www.paypal.com/uk/webapps/mpp/refunded-returns

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Sweep
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Re: Paypal Account Fees

Postby Sweep » 8 Nov 2020, 3:37pm

Bonefishblues wrote:I don't know if they did that before, but here you go:

https://www.paypal.com/uk/webapps/mpp/refunded-returns


many thanks bonefish.

Will check out.
Sweep