January 28, 2022, 12:04 pm | Read time: 4 minutes
PayPal users recently received an email from the payment service. It concerns upcoming adjustments to the terms of use.
PayPal occasionally changes and optimizes its terms of use or general terms and conditions. Sometimes there are major updates, other times only minor changes. In any case, adjustments can potentially affect every customer, depending on their usage behavior. The currently announced updates are more about small clarifications of the terms and conditions. However, there are still interesting points to note.
Changes to PayPal Terms of Use Effective January 28
PayPal announces a total of seven changes on its homepage. TECHBOOK provides an overview for you.
Effective January 28, 2022:
- The terms for PayPal Buyer Protection and PayPal Seller Protection will each be moved to separate web pages. The terms for these programs will be accepted simultaneously with your agreement to the terms of use, of which they remain a part. The relocation is solely for easier accessibility and navigation of the terms.
TECHBOOK says: A sensible adjustment if it serves better clarity. However, the PayPal terms of use remain generally rather confusing due to their sheer length. - The PayPal Seller Protection will be revised to clarify that the shipping and delivery receipt must also include a trackable online tracking number.
TECHBOOK says: An absolutely sensible update. There should be no ambiguities in seller protection. Every step toward more clarity and thus security is welcome here. - It will be clarified that the abusive use of our online dispute resolution process, PayPal Buyer Protection, and/or PayPal Seller Protection are prohibited activities as defined in the terms of use.
TECHBOOK says: Another small step to strengthen buyer and seller protection. - It will be clarified that no standard dispute fee will be charged for disputes where all the requirements of PayPal Seller Protection are met.
TECHBOOK says: As with point 3, PayPal further optimizes the dispute resolution process here. It is especially important to establish clear rules in disputes. - It will be clarified that a minimum reserve is also referred to as a one-time upfront reserve.
TECHBOOK says: This seems to be merely a change in terminology. But what exactly is a minimum reserve? It is an amount of money that PayPal withholds from the available balance. This amount is then not available to the user. According to PayPal, this happens in the following cases: “We may establish a reserve on your PayPal account at any time if we believe there is a high level of risk associated with you, your PayPal account, your business model, or your transactions.” And further: “We decide on the establishment of a reserve based on internal and external factors.” - Fourteen additional currencies will be introduced for withdrawals from a PayPal account, and the minimum and maximum fees that may apply to withdrawals in these currencies will be specified.
TECHBOOK says: PayPal is becoming even more international. This is a good update for users with relatives or acquaintances abroad. Unfortunately, we could not determine which 14 currencies are involved from the terms of use. - The definition of the European Economic Area (EEA) will be clarified by including a list of the markets/regions that are part of the EEA.
TECHBOOK says: The clarification is certainly helpful for users. Essentially, the EEA consists of the EU countries plus Iceland, Norway, and Liechtenstein.
Past Adjustment of PayPal Usage Fees
As mentioned earlier, the points above take effect on January 28, 2022. Since November 10, 2021, the following changes have been in effect, which TECHBOOK has already explained in an article.
PayPal Subscriptions Under Control: How to Find and Cancel Hidden Payments
One Wrong Sentence in Classified Ads Makes You Liable
Attention Streaming Fans!
TECHBOOK has launched its own quiz show. In this episode, actress Simone Hanselmann tries her luck against quiz European champion Sebastian Klussmann.
Are you familiar with Netflix and the like? Then join in the guessing!