Penny Auctions FORUM
PayPal Policy Updates 6/13/17 - Printable Version

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PayPal Policy Updates 6/13/17 - ForumAdmin - 06-13-2017

We are making some changes to the PayPal User Agreement that will go into effect on July 27, 2017. If you're interested in learning more, please visit our Policy Updates Page. Updates include:
  • We are adding terms for a new faster withdrawal option. If your debit card is eligible to receive faster withdrawals from your PayPal account, you will be provided the option to use it when you transfer money out of your PayPal balance. The transfer will be subject to a $0.25 fee, which will be deducted from the amount of the withdrawal.
  • We’re advising sellers that they may receive payments through their PayPal Account from customers using their Venmo account and that the payments will be subject to Venmo’s purchase protection program (which is similar to PayPal’s purchase protection program).
  • We’re updating the “Payment Methods Used” section to clarify that, for pre-approved payments, if you have money in your PayPal balance, your PayPal balance will be used first and your preferred payment method will be used for any remaining amount due.
  • We’re clarifying our rights that apply when your PayPal account has a negative balance.
These changes are detailed on our Policy Updates Page and will become effective July 27, 2017 for all U.S. customers. We encourage you to review the Policy Update and familiarize yourself with the changes that are being made. If you do not agree to any of these changes, you may close your account before July 27, 2017.

Thank you for being a PayPal customer.