How many Indians use PayPal 1

Twelve euros: PayPal introduces annual fee for inactive users

The PayPal company is one of the most important payment services on the network. Numerous trading platforms and shops offer the financial processing of orders. Too much popularity has also helped the service that there are no or only low additional costs for private users in many cases.

Now you can come up with a new fee - for inactive users. The alleged file owners should be asked to pay in two months, as Money Saving Expert documents.

Penalty for non-members

Specifically, new usage guidelines will come into force on December 16. From then on, all users who have been inactive for a year (twelve consecutive months) will be charged twelve euros. Paypal defines inactivity as the failure to receive money, send money, withdraw funds and log in.

However, the inactivity fee is only deducted from the credit balance on the respective accounts. If the available amount is insufficient, only the remaining credit will be used up. However, linked payment sources such as an account or credit card should not be accessed. So if you have no credit on your PayPal account and no longer use the service, you will not be asked to pay.

Does not apply in Germany and Austria

According to the English-language update, this rule will apply to all users, except for those in Ireland and owners of a PayPal personal account in Hungary. In the German update, however, there is no mention of such a fee. There are also two versions with different effective dates (December 16, 2020 and January 4, 2021).

PayPal has now cleared up this confusion. The company explains to the STANDARD that the inactivity fee will not be introduced in this country or in Germany.

Simply preventable

But even former or very rarely active users who could be affected can easily make do. It is sufficient to log in by December 15th to avoid being penalized for one year. In addition, you can have existing credit transferred to your own bank account and close your PayPal account if you no longer need it. (gpi, October 20, 2020)