PayPal is making changes to its User Agreement, which will go into effect next month. The company sent an email notification to users this week with the subject line, “Upcoming changes to our PayPal legal agreements”:
We’re making some changes to our legal agreements that will apply to you. There is no action needed from you today, but if you would like to learn more, you can find details about these changes, when they apply and what you can do if you want to decline the changes on our Policy Updates page. You can also view these changes by visiting PayPal.com, clicking ‘Legal’ at the bottom of the page and then selecting ‘Policy Updates’. If you have questions about any of these changes or your account, please don’t hesitate to get in touch with us. Thank you for being a PayPal customer.
The policy updates are summarized very broadly on this page of the PayPal website; the following two changes jump out involving fees:
- “We are establishing a dispute fee and its terms and conditions for sellers.”
- “Upon the effective date of this update, the currency conversion spread for goods and services or send-money transactions will be 4%.”
Be sure to review all of the changes, and check out the AuctionBytes Blog for more information about the new dispute fee.