Policy Updates

PayPal is a business that serves a new and exciting market. As that market changes, our business evolves. This page is dedicated to informing users in advance of important changes to the PayPal service, its User Agreement or other policies.

Notice Date: 14 July 2008
Effective Date: 3 September 2008

Beginning 3 September 2008, PayPal will introduce a new method to add funds to your PayPal Account in select countries.

Adding Funds to your account (Topping up)

1. Topping up. PayPal customers in the following countries may add funds to their PayPal Account via bank transfer from their local bank accounts: Italy, Ireland, Belgium, Austria, Denmark, Greece, Portugal, Poland, Finland, Hungary, Czech Republic, Luxembourg, Singapore, Hong Kong and Mexico. Funds may be used for the purchase of goods or services over the internet. Due to bank processing times, it may be a few days from your initiation of the transfer that the funds will appear in your PayPal Account.
2. Fees. PayPal will not charge you a fee for topping up from a bank account, however, your financial institution may charge you a fee to send the funds to PayPal. Please check with your bank prior to sending funds.
3. Limitations. Only customers in the countries listed above may add funds to their PayPal Account via bank transfer. The funds must come from your bank account into a PayPal Account with the same name as the registered account holder. In the event you attempt to send funds from an account wherein the name on the PayPal Account and the name on the bank account do not match, the funds transfer may be rejected by PayPal. You will be liable for any fees incurred for attempted transfers to accounts that do not have the same registered owner. For fraud, risk and regulatory reasons, PayPal reserves the right to limit the amount that may be topped up at any time.
4. Redemption. Top up funds may be redeemed for good or services from other PayPal customers and may be refunded to your registered bank account, where available and in accordance with PayPal’s withdrawal policies as shown below.

Effective 9 July 2008, PayPal Private Limited will be amending the above mentioned policies to reflect several changes to its product. These changes include clarification on the customer’s relationship with PayPal, several guidelines on the use of PayPal on eBay, and the reduction of the fees associated with Return Fees for Withdrawals through ACH. The changes are as follows:

Section 2.1 the fourth paragraph will be changed to read as follows:

By initiating and making payments through the Service or, where available, adding funds to your balance, you authorize PayPal to charge your credit/debit card or to instruct your financial institution to obtain the funds on your behalf, and to send the funds to the recipient that you designate or into PayPal’s Pooled Account, subject to the terms and restrictions of this Agreement. When you initiate a payment, PayPal will offset funds from the Pooled Account for your benefit to the recipient. When you make a payment, until that payment clears our risk checks and is accepted by the recipient (which may occur instantly or take a few days), you remain the owner of those funds and PayPal holds those funds for your benefit, but you will not be able to withdraw those funds or send the funds to any other recipient unless you cancel the initial transaction.

A new Section is added regarding your offering of PayPal on eBay which will read as follows:

6.5 Use of PayPal on eBay. Sellers who offer PayPal as a payment method in their eBay listings must follow these requirements:

1. Accept PayPal if the eBay listing includes PayPal as a payment method.
2. Accept all PayPal funding sources from a buyer, including but not limited to eCheck and credit cards.
3. Have a Premier or Business account or be willing to upgrade to a Premier or Business account upon receipt of a payment.
4. Accept international PayPal transactions if the eBay listing offers shipping outside of their country.
5. Sellers may not charge a surcharge for accepting PayPal as a payment method.

Beginning 9 July 2008 PayPal will have a newly revised privacy policy. The new privacy policy will have the following sections:

1. How we collect information about you
2. How we use cookies
3. How we protect and store personal information
4. How we use the personal information we collect
5. How we share personal information with other PayPal users
6. How we share personal information with other parties
7. How you can control our communications with you
8. How you can access or change your personal information
9. How you can contact us about privacy questions

The main purpose of this revision is to present our policy in a clearer and more concise format, however we have made some minor changes as to how we process your personal information.

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This entry was posted on Tuesday, August 19th, 2008 at 11:01 pm and is filed under Paypal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.