If you have an account, you better go check it out.
Occasional PayPal users may want to log into their account soon.
PayPal will introduce new “annual account inactivity fees” in November.
“We are introducing an annual account inactivity fee of C $ 20,” the company says via a somewhat buried policy update notification on its website, posted Aug. 11.
Similar charges were announced at different times for other countries.
Their current user agreement doesn’t appear to mention upcoming fees, nor does their list of “PayPal consumer fees”.
While the Canadian site does not appear to have an inactivity fee description, the UK site does; inactivity fees were implemented there in December 2020. It indicates that accounts inactive for 12 months will be charged.
The UK version also offers five options to avoid charges:
- Log in to your account; Where
- Shop wherever PayPal is accepted; Where
- Send money to friends and family, or to sellers of goods and services; Where
- Withdraw money in your account; Where
- Make a donation to a charity with your account
The funds will be withdrawn from the amount currently in the account, if there is less than the account charge left, they will stop at zero.
“Accounts with zero balances will not be impacted and this charge will not result in any negative balances,” the company says.
It is currently unclear whether the Canadian “inactivity fee” will match the UK version.