well fuck me gently
warning to anyone with a PayPal account
A new fee charge will be introduced this month, and will also apply to users who don't use their account often
If you don’t want to pay the fee you’ll need to log into your account before December 15.
From December 16, 2020, PayPal is introducing an annual fee of £12 for people whose accounts have been inactive for 12 consecutive months
as far as I'm aware
if you use PayPal regularly you shouldn't be charged a fee ever
but I'm still digging around the terms and conditions
update on the paypal fee
The inactivity fee applies to users registered in United Kingdom, Bulgaria, Cyprus, Czech Republic, Estonia, Gibraltar, Greece, Guernsey, Hungary (business accounts only), Isle of Man, Jersey, Latvia, Liechtenstein, Lithuania, Malta, Romania, San Marino, Slovakia, Slovenia
only these countries
@ecksmc I always use Moneysaving expert.com for advice on financial stuff - he says as long as you log on you should be fine. - https://www.moneysavingexpert.com/news/2020/10/paypal-to-introduce-p12-yr-fee-for--inactive--accounts---act-now/
@Mandypar yeah log on or make a transaction before 15th you should be fine
It's mainly for dormant accounts
It's a strange thing though they only take the fee if you actually have a PayPal balance
I mean, won't be a lot of dormant accounts that actually have a balance lol
@ecksmc Indeed. I admit to having a $12 balance but I do use the account to make some regular monthly payments 🙂
@Mandypar i do use mine monthly for subscriptions also for a few services
but never add any cash to my balance
@ecksmc Me neither - but sometimes I get $5 for doing something simple online so it goes in there to isolate it from them having my bank account details.
@ecksmc Thanks for the heads up!
How easy is it to completely delete ones PayPal account?
I mean, just delete and never use?
I have not used my account in many months.
@corlin pretty straight forward
How to delete a PayPal account:
Log into your account on PayPal.com
Click the Settings icon in the top right
Under Account Options, click Close your account
If requested, enter your bank account information
Click Close account
@ecksmc
That can happen for inactive bank accounts after one year. I got a letter about one checking account that I hadn’t done anything with for nine months and it stated it would start drawing it down $10 a month at one year unless they heard from me or I used it. A phone call took care of it and I made note of it.
@ecksmc Hmmmmm, canceling my paypal acct. I never use it.
Thanks for the heads up 💕😊💕
@ecksmc Hi 😊 I’ve read through all my paypal email alerts and scoured the internet and .... I think the inactivity fee is only in England? I can’t find any mention of it in US dollars or on fee schedules for US accounts 🤪
@Knitpurrl oh yeah i forgot to post this
The inactivity fee applies to users registered in United Kingdom, Bulgaria, Cyprus, Czech Republic, Estonia, Gibraltar, Greece, Guernsey, Hungary (business accounts only), Isle of Man, Jersey, Latvia, Liechtenstein, Lithuania, Malta, Romania, San Marino, Slovakia, Slovenia
took me a while to read it and dig through the new T & C
sidenote: they didn't send out specific emails for this it was an email notifying of new T & Cs which most folk just bin
If you don't have any money in your PayPal account, or your balance is negative, PayPal says you won't be charged a fee, even if you have a credit or debit card linked to the account.
You can avoid being charged by logging into your PayPal account (or making a transaction) on or before 15 December 2020, before the fee is introduced on 16 December 2020.