Paypal User Agreement- come into effect July 2012

simone10

Afternoon everyone

I was browsing the site looking to see if anyone was discussing the Paypal new user agreement. Haven't found it under discussion anywhere. So here goes.....

New ruling coming into effect in July (at least that's how i understand it) according to the new user agreement that I got emailed yesterday.
It reads as though if you don't have enough funds in your Paypal account (which I never do) and it has to take money from your debit/credit card that its associated with, they will now charge 3.4% - 4.4%.
Therefore I will have to keep funds in my Paypal account that isn't earning any money just to be sure I don't end up paying fees when I make a purchase.
So that now means Paypal make money on the seller and buyer.

Anyone else read their updated user aggreement?
Just opened it as a PDF and its page 4 of 22

eBayRipOff

Don't you just love it, and they make sure seller get's screwed because you are not allowed to surcharge for their fees!

No_Eye_Deer

Isn't that bit for Sending or Receiving Personal Transactions (when fully or partially funded by card) though.

Further down it says

Commercial Transactions
Sending (Buying) - Free (when no currency conversion is involved).

soolin

No_Eye_Deer wrote: »

Isn't that bit for Sending or Receiving Personal Transactions (when fully or partially funded by card) though.

Further down it says

Commercial Transactions
Sending (Buying) - Free (when no currency conversion is involved).

I think that was why no one was discussing it because it didn't apply to the majority of us buyers and sellers. Personal transactions have historically been free with the proviso that the balance was held in the paypal account, they became chargeable (even under current regs) if money was taken off a card or from a bank transfer.

simone10

No_Eye_Deer wrote: »

Isn't that bit for Sending or Receiving Personal Transactions (when fully or partially funded by card) though.

Further down it says

Commercial Transactions
Sending (Buying) - Free (when no currency conversion is involved).

I thought sending and receiving personal transactions is what I and most people do (not those in business) and the reference to Commericial Transactions is another topic

I'm hoping it is me that has just misunderstood, which is why I was looking for a discussion on here and couldn't find it under debate

simone10

soolin wrote: »

I think that was why no one was discussing it because it didn't apply to the majority of us buyers and sellers. Personal transactions have historically been free with the proviso that the balance was held in the paypal account, they became chargeable (even under current regs) if money was taken off a card or from a bank transfer.

Currently my paypal account is attached to my credit card. When my Paypal account doesn't have enough funds (most of the time) to pay for a transaction it takes money from my credit card. I HAVE NEVER BEEN CHARGED extra for this happening. I would only be charged extra as interest from my credit card company if I didn't pay the balance in full.

So you think the refrence to 'Domestic Personal Transactions' doesn't mean we will now get charged for the facility to let the credit card default kick in?

soolin

simone10 wrote: »

Currently my paypal account is attached to my credit card. When my Paypal account doesn't have enough funds (most of the time) to pay for a transaction it takes money from my credit card. I HAVE NEVER BEEN CHARGED extra for this happening. I would only be charged extra as interest from my credit card company if I didn't pay the balance in full.

So you think the refrence to 'Domestic Personal Transactions' doesn't mean we will now get charged for the facility to let the credit card default kick in?

At the moment all paypal 'payments' are free to send but charged on receipt. However, 'personal payments' ie payments made as a gift, ie not on ebay, are free to both sender and receiver as long as sender has available cleared funds in their paypal account

Payments made to purchase goods as gift payments, so not the same as standard paypal payments (I'm rubbish at describing things, sorry)

No_Eye_Deer

simone10 wrote: »

I thought sending and receiving personal transactions is what I and most people do (not those in business) and the reference to Commericial Transactions is another topic

I'm hoping it is me that has just misunderstood, which is why I was looking for a discussion on here and couldn't find it under debate

https://www.paypal.com/uk/cgi-bin/?cmd=_display-fees-outside

Personal transfer - sending money to a friend etc.

soolin

No_Eye_Deer wrote: »

https://www.paypal.com/uk/cgi-bin/?cmd=_display-fees-outside

Personal transfer - sending money to a friend etc.

So the change is for the better then as currently even a bank transfer attracts a charge, the new link shows that only card payments are chargeable.

MrsBartolozzi

Did you read the definitions of "Personal transaction" or "commercial transaction" when you were perusing the new t&c's?

RFW

They are introducing instant (or nearly instant) transfers in line with the banking faster payments system. These will be both ways for transferring to or from your account.

So they will be doing away with the £5 charge for quicker withdrawals and presumably echeques will start to dwindle away too. That's coming later this Summer apparently.