PayPal has just updated its terms of service. From now on, the mobile payment application will apply an inactivity fee of up to 12 euros to users who have not logged into their account for more than a year. If this is your case, we advise you to log into your PayPal account before December 16, 2020 in order to avoid the fees.
On September 29, 2020, PayPal made changes to its terms of service. “We are introducing an inactivity fee for accounts that remain inactive for at least 12 consecutive months,” explains PayPal on its official website.
“Inactive means that you have not logged into your PayPal account or that you have not used your PayPal account to send, receive or transfer money” specifies the American firm. If you regularly use PayPal to to shop online, pay your Netflix or Spotify subscription, but never log into your account, so you have nothing to worry about.
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On the other hand, if your account has not been used for more than a year, you risk charges. “The inactivity fees will be lower than the amount of 12 euros or the remaining balance in your account” details PayPal. We do not know how PayPal will act if your account balance is zero. We imagine that the firm could debit any cards or bank accounts linked to your account.
To avoid them, just log in briefly every year. This new policy will enter in effect from December 16 next. If you want to keep your PayPal account, we recommend that you log in before that date. It is also possible to close your account on the site in order to avoid the annual inactivity fee.
“If you prefer to refuse these changes and close your account, you can do so before December 16, 2020 without incurring additional costs,” warns PayPal. As a reminder, this practice is 100% legal. Services offering accounts are also obliged to contact their users after 12 months of inactivity. How are you going to react? Are you going to close your account? We await your opinion in the comments.