Paypal to charge a fee for Inactive Accounts
Paypal has a new user agreement that allows the platform to charge a fee for inactive accounts. This not only affects resellers, as a downtime rate has already been discussed in 2020, but it will also affect private customers.
And that’s right, PayPal has now introduced an inactivity fee for managing inactive accounts. That is, if you have an account on the platform, prepare to pay for it. The applicability of the service fee is limited and only affects accounts that have not been active in the last 12 months.
According to Paypal, the fee charged will be the balance in the account, up to a maximum of 10 euros (270 CZK, 3600 HUF). Accounts with a balance of zero are not affected by this fee, meaning this charge will not result in a negative balance. If an account has no positive balance after being charged this fee and remains inactive for an additional 60 days, that account may be closed at the end of the 60 days.
Notifications for inactive accounts will start as early as today, November 15, 2022. Until December 13, 2022, users can use their PayPal account to avoid the fee by one of the following simple actions:
- Accessing the Account; or
- Buy and pay with PayPal anywhere the platform is accepted; or
- Send money to friends and family or suppliers of goods and services; or
- Withdraw funds from your account; or
- Donate to a charity using your account
Important to mention, personal accounts registered in Germany, Austria, Italy, Greece, Hungary and Poland are exempt from this inactivity fee.
If you use the platform frequently, you don’t need to worry about this situation, as nothing will change for you.
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