PayPal have announced a raft of changes to their user agreement, the most significant of which is that withdrawals to UK bank accounts will be free of charge for all users. Currently this is free when withdrawing more than £50.00 but for smaller amounts there is a fee of £0.25. This fee will be removed as of 11th February 2009.
The effect of this will be to make Personal Payments sent through PayPal totally free for the recipient allowing them to withdraw the money to their bank account with no charges at all. Currently to stay fee free they either need to leave their money in their PayPal account until it totals more than £50.00, or re-spend it paying with PayPal.
There will also be fee changes for those that use PayPal Website Payments Pro Fees for PayPal Express Checkout again effective 11th February 2009.
Other changes include the removing the need to complete the Expanded Use Programme as part of the process to lift their receiving or withdrawal limits – PayPal will introduce an automated process to confirm your address information is correct.
You can read the full changes by logging into your PayPal account and clicking the “Policy Updates” link on the left hand side in the “What’s new” section.
“add more companies that PayPal share your personal information with”
Oh joy – more spam on the way….
yeah, well i have to admit to thinking it was abit of a rip off to charge people to draw out there own money. Banks don ‘t charge so why should PayPal be allowed to.
Oh and I agree with steve, i dont fancy the idea of my information being shared with other companies. I wonder how much money PayPal will make out of that??!
I dont like paypals monopoly
other than that we have had few .if any problems.
potential spam from paypal is of little concern,
we get our money with little or no hassle , thats all that we are worried about
They are giving you nothing, the majority of withdrawals are free anyway !
Wonder if they will tinker with REAL fees to balance it up with the SPIN about this “free” withdrawal
I have had a pound in my personal account for years, roll on the 11th.
Paypal blocked and then reversed a perfectly legitimate payment of mine to a service provider as a result of which it has set me back by weeks and lost me custom. Once they get this sort of basic customer service right, then they will be much more popular, saving me 25p here and there is not going t do it for me.
This never ending raft of innovations whiffs a little of desperation. Are they in trouble?
We offer paypal on our website, but also nochex, and good cash/cheques, people are not held to ransom (sorry, couldn’t resist 🙂
6# You should also offer Google Checkout, they charge less, are better to detect fraud payments and give some real sellers protection. They’re top notch.
In the US, Paypal doesn’t charge us withdrawals. I’m astonished to learn that Ebay does that in other countries. Definitely a rip off. Ebay makes plenty of $$ without resorting to penny ante cr*p that really adds up in their favor. Can this company get any more greedy??
#8 Of course it can. Ebay will be as greedy as they can possibly be, as would all of us if we were in ebay’s position. Ebay isn’t a charity. Their purpose is to make as much money as they can for their shareholders.
Ebay can charge as much as they do because they deliver customers. Not many other sites do. You get what you pay for.
@ # 8
To be honest, if I ran PayPal I probably would have charged for withdrawls worldwide from the start. I know that is how Moneybookers works. PayPal doesn’t make any money on personal transactions. That’s what I’m shocked about.
I can’t imagine the justification for charging for direct deposit to a bank account which is the only way PayPal does it in the US. They take twice as long to do it as Google Checkout which sweeps all funds within 48 hours.
PayPal make the vast majority of their revenue ‘on the float’ about $12M per quarter. Eventually, when you nickel and dime someone enough, they think about that straw and the camel.
Euro zone customers still have to pay Paypal 1 Euro for every bank withdrawal below 100 Euros. This rule has always been in place and will continue to do so. Amazing.
#7, thanks I’ll look into that. I had not heard of that before 🙂
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