If you own a PayPal account regardless of your country of residence or where you are operating your account from, then you must read the new changes made by PayPal.
PayPal have announced an adjustment of their guidelines for in active accounts which will take effect from 6th of December.
Fees will now be charged for inactive accounts in the future. The company considers inactive accounts to be those where no logins or money transfers have been recorded for 12 consecutive months.
Depending on the country, you’ll be charged a maximum of €12 or $12, or the amount available in your PayPal account. So if there is only $4 in the account, only $4 will be debited.
If only a bank account or a credit card is connected to the account and there are no amounts available on the actual PayPal account, no fees will be taken. So the maximum of $12 will only be deducted from an existing balance of the respective PayPal account.
Users Affected by The New Guidelines
The inactivity fee applies to users registered in United Kingdom, Bulgaria, Cyprus, Czech Republic, Estonia, Gibraltar, Greece, Guernsey, Hungary (Corporate Customers only) Isle of Man, Jersey, Latvia, Liechtenstein, Lithuania, Malta, Romania, San Marino, Slovakia, Slovenia.
How it will be Implemented
According to PayPal, affected users will be informed several times about possible fees. These notifications will be made 60 days, 30 days, and one week in advance. As mentioned above, the fee can be prevented by a login. You should then transfer any amounts that are directly available in your PayPal account to another account.
Possibly the adjustments will be extended to other countries like Nigeria, South Africa, etc in the future.
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