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Post by Deleted on Aug 15, 2021 3:09:03 GMT
Paypal's just sent out an email notice that they're revising some of their policies, and I'm wondering about something. One of the items mentioned is "We are introducing an annual account inactivity fee of $20 CAD." Are they talking about a fee being imposed on sellers accounts, or are they planning to charge anybody with a Paypal buyers account a fee for non-use, in the same way that credit card companies charge an annual fee just for having a card whether you use it or not? The Paypal page doesn't really make this clear, and all I can say is that if they're going to do a cash-grab from everybody just because they have a Paypal account set up, they can go pound sand. I'll close my Paypal account in a heartbeat if they're going to charge me, as a buyer, just because I have a Paypal account. I can't imagine finding that because Paypal accesses my funds for purchases from my bank account that they can arbitrarily grab 20.00 without me making a purchase. This revision to their agreement goes into effect in November, but I'll make a point of closing my Paypal account before then if they're planning to do a cash-grab from Paypal buyers.
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Post by laristotle on Aug 15, 2021 4:37:35 GMT
Tnx for the heads up.  |
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Post by Die Bullen on Aug 15, 2021 8:40:06 GMT
I haven't received a notification from Paypal from what I know, but I will be on the lookout for this now. From what you posted however this appears to be an annual inactivity fee, not an annual fee for active Accounts. I only occasionally use Paypal myself, so if it were to be an annual fee for All users, I might also opt out
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Post by Colchar on Aug 15, 2021 15:09:25 GMT
Is it even legal for them to charge fee based on not having used your account?
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Post by highdeaf on Aug 15, 2021 15:30:34 GMT
Canadian banks do it all the time. As I said to the TD a few weeks ago: "You might be too expensive to keep my money here, but I'm thrilled to have an investment opportunity like you, protected from loss with programs like CMHC." Paypal's just sent out an email notice that they're revising some of their policies, and I'm wondering about something. One of the items mentioned is "We are introducing an annual account inactivity fee of $20 CAD." Are they talking about a fee being imposed on sellers accounts, or are they planning to charge anybody with a Paypal buyers account a fee for non-use, in the same way that credit card companies charge an annual fee just for having a card whether you use it or not? The Paypal page doesn't really make this clear, and all I can say is that if they're going to do a cash-grab from everybody just because they have a Paypal account set up, they can go pound sand. I'll close my Paypal account in a heartbeat if they're going to charge me, as a buyer, just because I have a Paypal account. I can't imagine finding that because Paypal accesses my funds for purchases from my bank account that they can arbitrarily grab 20.00 without me making a purchase. This revision to their agreement goes into effect in November, but I'll make a point of closing my Paypal account before then if they're planning to do a cash-grab from Paypal buyers. Ahh, the ol' Photobucket business model. How did that turn out?  |
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Post by Deleted on Aug 15, 2021 15:31:04 GMT
I'm going to actually call them today and ask the question as to whether it's everyone or just dormant accounts. But, it occurs to me that if it's just dormant accounts where there's no money flowing in and out, how would they collect that 20.00? My gut is telling me that this is simple greed and they intend to collect from everyone. If they do, I hope it backfires on them the way Photobucket screwed themselves a few years back by trying a cash-grab.
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Post by Deleted on Aug 15, 2021 17:40:39 GMT
I couldn't get through by phone but asked via their messenger service. This is the answer I got...."Hello, I see that you want to know if the Inactive Fee only applies to the sellers. Actually the Inactive account fee applies to all PayPal users (Both sellers and buyers). The “inactivity fee" will apply to account holders who have not sent, received, or withdrawn money over the last year, or failed to log in during this time."
So, it sounds like, as long as you're doing one transaction via Paypal over a 12 month period, you're okay. However, if you let your account go dormant, they'll scoop 20.00 from your credit card, bank account, or funds deposited to cover a transaction when you use it again.
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Post by laristotle on Aug 15, 2021 18:12:00 GMT
or failed to log in during this time. I hope that this is sufficient. |
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Post by Die Bullen on Aug 15, 2021 20:20:29 GMT
I couldn't get through by phone but asked via their messenger service. This is the answer I got...."Hello, I see that you want to know if the Inactive Fee only applies to the sellers. Actually the Inactive account fee applies to all PayPal users (Both sellers and buyers). The “inactivity fee" will apply to account holders who have not sent, received, or withdrawn money over the last year, or failed to log in during this time." So, it sounds like, as long as you're doing one transaction via Paypal over a 12 month period, you're okay. However, if you let your account go dormant, they'll scoop 20.00 from your credit card, bank account, or funds deposited to cover a transaction when you use it again. That is, assuming your credit card hasn't expired during that time too... |
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Post by infant on Aug 16, 2021 23:16:47 GMT
Yeah, I guess I’m gonna be cancelling my PayPal account. I just used it recently for a purchase but I hadn’t used it in a few years as I usually just pay with my credit card.
Thanks for the heads up Ken
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Post by Deleted on Aug 17, 2021 6:29:06 GMT
The responses have me wondering.....Was this change in their policy meant to eliminate deadwood in their membership rolls, or did they think it would spur more business? From what I can see, and from what I've heard, a very small proportion of their customers might use their accounts more, but primarily, a lot of people will probably just cancel their accounts just in case they get charged that inactivity fee. This seems to come closer to the shot-themselves-in-the-foot outcome than a way to promote more business. I'm thinking that the rocket scientist who came up with this idea should freshen up their resume.
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Post by Die Bullen on Aug 17, 2021 7:16:06 GMT
I assume that the logic is that they have a ton of inactive accounts that they want to monetize, but I could be wrong. I'm certain that it will repel some less frequent users
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Post by infant on Aug 17, 2021 13:18:16 GMT
I assume that the logic is that they have a ton of inactive accounts that they want to monetize, but I could be wrong. I'm certain that it will repel some less frequent users Well it’s definitely got me thinking about cancelling my account. I only used to use it when I bought stuff on eBay. But it’s been years since I’ve done any of that (got burned too many times). I used it recently for a couple of purchases but I had a hard time remembering my password. So it looks like they may be losing me. |
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Post by Deleted on Aug 17, 2021 20:29:11 GMT
Paypal says that one way to ensure that your account doesn't fall into the dormant status that means you'll pay the 20.00 fee is to log into your account. I don't think you can depend on that provision.....There's no way to document that you've logged in and if they say you haven't, you can't prove it.
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Post by Die Bullen on Aug 17, 2021 23:51:17 GMT
Paypal says that one way to ensure that your account doesn't fall into the dormant status that means you'll pay the 20.00 fee is to log into your account. I don't think you can depend on that provision.....There's no way to document that you've logged in and if they say you haven't, you can't prove it. Well actually the PayPal logs would show when you log in, I'm certain they track that. Probably all websites do nowadays. But who out there is going to set reminders for themselves to log in annually? Not me... |
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Post by Deleted on Aug 18, 2021 3:16:05 GMT
I suspect that the majority of people treat these emails from Paypal and from eBay announcing changes in their Terms of Service as SPAM....Not read, except in the most cursory way, if at all, and very few of them will take the trouble to call Paypal and get a more thorough explanation of the 20.00 fee being charged to inactive accounts. And I suspect Paypal's banking on that.
I look at this Paypal move as being somewhat similar to the unscrupulous way that some companies resort to negative billing schemes....If you don't take some affirmative action to say "No", they automatically assume that you're okay with whatever they're proposing, and go ahead and charge you. If the Paypal customer doesn't pursue finding out all about this inactive account scheme, their first inkling will come when that 20.00 charge shows up on their credit card, or as a debit on their bank account, depending on how their Paypal account is funded. Good luck getting that 20.00 back at that point.
I see this whole thing as a dishonest and greedy way for Paypal to try and take advantage of people.
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Post by northernboy on Aug 24, 2021 21:01:45 GMT
Yeah, I saw that. I had an old Paypal account I hadn't used in 15 years or so, so closed it down last Friday. It was a pain the ass too and I had to call tech support.
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