PayPal User Agreement Update

[wpt05]

Did anybody else get an email about this change? 

https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full

[mam98031]

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@myjunqueyourtreasure wrote:

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@penguins_dont_fly wrote:

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@southern*sweet*tea wrote:

Interesting.

A lot of people aren't going to like this...

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If I'm reading the section on "Cash Plus" correctly ... this will benefit sellers who don't want to (or can't) set up a separate checking account when Managed Payments rolls around for good.

The "Cash Plus" account type allows for Direct Deposit ...

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No mention of what fees there will be for said Direct deposit?

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They don't charge now for transferring money into a bank account.  The email also says there is no changes to the PP fees.

[myjunqueyourtreasure]

But this is money being transferred INTO a PP Cash account.

[mam98031]

Also the note in the email about the 21 day UA change notice going to 5 days, says to me this is just on Personal accounts as Business accounts already have a 5 day warning clause.

I think this just pertains to personal accounts as the email states.  

Maybe at a later time they will offer this to Business accounts, IDK.

[68barbie]

I'm glad you caugt that tidbit, mam98031. I hadn't received the notice, either, but it could because my account is business as well. Interesting info, folks, thanks for sharing!

-C

[mam98031]

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@myjunqueyourtreasure wrote:
But this is money being transferred INTO a PP Cash account.

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The email says there is NO updates to PP fees.  I'm only going by what they stated in the email.

Plus PP does not currently charge a fee to transfer money from your PP account into your bank account.  

Certainly things could change.  But per the email, they aren't at this time.

[mam98031]

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@68barbie wrote:

I'm glad you caugt that tidbit, mam98031. I hadn't received the notice, either, but it could because my account is business as well. Interesting info, folks, thanks for sharing!

-C

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I agree, I find this conversation very interesting and I'm glad the OP came to share.  

And I agree, my account is a business account too, I just don't think this email applies to us at this time.  That could change.  But according to the email it does not.

[siayan]

I haven't figured out how but I bet it is somehow connected to the PayPal eBay separation and eBay's going it alone.  Maybe pushing into a credit card type situation so eBay will still use PayPal indirectly. There is a rub in there somewhere.

[moo*cow*corner]

We have a Premier account, so it'll be interesting to see how this plays out.

If I'm reading correctly, for all of this to work, you have to have a Paypal Cash debit card. That seems to be a separate pre-paid card as opposed to the "normal" Paypal Business debit Mastercard we have now. I avoid pre-paid cards because of all the extra fees that get tacked on all the time.

The new regulations from the CFPB seem to be directed at the pre-paid debit card market, and this is Paypal's response.

[mam98031]

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@siayan wrote:

I haven't figured out how but I bet it is somehow connected to the PayPal eBay separation and eBay's going it alone.  Maybe pushing into a credit card type situation so eBay will still use PayPal indirectly. There is a rub in there somewhere.

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Credit card payments when in the Managed payment program go through Ayden.

PP will NOT be able to "force" Ebay to do much of anything once their contract with them is done in a couple years.  

[mg152]

Seems like a lot of who shot John to me. I’m over PayPal. Didn’t read all 33 pages and they know we won’t.

[wpt05]

@mam98031 

I have a PayPal Business Debit Mastercard does that mean I have a business account?  Maybe they changed it to a personal account since I sold significant less last year.  Also, I haven't used the card in quite some time.  

[siayan]

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@mam98031 wrote:

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@siayan wrote:

I haven't figured out how but I bet it is somehow connected to the PayPal eBay separation and eBay's going it alone.  Maybe pushing into a credit card type situation so eBay will still use PayPal indirectly. There is a rub in there somewhere.

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Credit card payments when in the Managed payment program go through Ayden.

PP will NOT be able to "force" Ebay to do much of anything once their contract with them is done in a couple years.  

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I didn't say PP was trying to force eBay to do anything. I think they are setting up an option where PayPal can still be used for eBay purchases. Like a CC

[wpt05]

I found this link that somebody else posted on the boards.  It also specifies Personal PayPal accounts though.  

Policy updates and user agreement changes to Personal PayPal accounts

[myjunqueyourtreasure]

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@mam98031 wrote:

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@myjunqueyourtreasure wrote:
But this is money being transferred INTO a PP Cash account.

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The email says there is NO updates to PP fees.  I'm only going by what they stated in the email.

Plus PP does not currently charge a fee to transfer money from your PP account into your bank account.  

Certainly things could change.  But per the email, they aren't at this time.

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Yes, I know there's no charge to transfer FROM PP to a Bank account, but we're talking about direct deposit FROM Adyen/ebay TO PP.

[myjunqueyourtreasure]

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@wpt05 wrote:

@mam98031 

I have a PayPal Business Debit Mastercard does that mean I have a business account?  Maybe they changed it to a personal account since I sold significant less last year.  Also, I haven't used the card in quite some time.  

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First there were PP personal accounts and if you wanted to sell and accept cc payments you had to change to a Premier (so quasi business account) then later they began the 'actual' Business accounts.