PayPal increasing withdrawal fee to 3.0%

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Policy Updates

 

This page displays policy updates informing users in advance of important changes to the PayPal service, its User Agreement, or other policies. Please go to “Past Policy Updates” for previous policy updates.

We are updating the PayPal User Agreement for all users in Australia. The changes described below will go into effect on 6 November 2020. There is no action needed from you, as these changes will automatically go into effect on the effective date above. In the event you would prefer to decline the changes and close your account, you can do so prior to the effective date, and the changes will not apply to you.

Amendments to the PayPal User Agreement (Effective 6 November 2020)

To review the updated PayPal User Agreement, please click here.

• We are updating the policies with which you agree to comply when you open and use a PayPal account.
• We are clarifying the circumstances under which Commercial Entity Agreements apply to business and personal accounts.

Amendments to the Combined Financial Services Guide and Product Disclosure Statement (Effective 6 November 2020)

To review the updated Combined Financial Services Guide and Product Disclosure Statement (CFSGPDS), please click here.

• We are increasing the fee for withdrawing your USD balance to your linked United States bank account from 2.5% to 3.0%.

Amendments to the following agreements: PayPal Online Card Payment Services Agreement, PayPal Here Terms and Conditions, and Merchant Services Agreement for Payflow (Effective 6 November 2020):

• We are updating our data processing terms to reflect that PayPal is a data controller for payment processing fraud protection services.

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