New fees for inactive PayPal accounts

gt94sss2

£12 annual fee for inactive accounts
https://www.moneysavingexpert.com/news/2020/10/paypal-to-introduce-p12-yr-fee-for--inactive--accounts---act-now/

twhitehousescat

PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account.

messia07

so this fee (£12), is only if a account is Inactive inactive for 12 months and you have funds in the account? 

ballisticbrian

messia07 said:

so this fee (£12), is only if a account is Inactive inactive for 12 months and you have funds in the account? 

Yes, otherwise known as the technical term, "Milking It"

soolin

messia07 said:

so this fee (£12), is only if a account is Inactive inactive for 12 months and you have funds in the account? 

That’s what the article says , the fee is only taken when the money is available. 

RFW

It does seem like milking it but they probably have loads of accounts with a few quid in that they have to maintain. Why this needs to be an annual fee rather than notices letting people know doesn't really make sense.
Lots of companies use it. Last time I was with BT they charged a fee for not using my landline.

gt94sss2

PayPal are also introducing a new 'Dispute fee' for sellers.
Details at https://www.paypal.com/uk/webapps/mpp/ua/upcoming-policies-full

Mr_Teeny

Lots of companies do it to slowly drain funds out of deceased or forgotten accounts. Betting companies have been doing it for quite a few years.