PayPal to penalize inactive accounts with a fee

PayPal to penalize inactive accounts with a fee

Paypal has announced that from December 16 this year, customers will be charged £12 (Kes. 1783) a year if they do not use their PayPal accounts.

The payment service provider added that the new rule will affect accounts that have not sent or received money for 12 months, or been logged into.

PayPal will not charge a fee for those with a zero balance or where a credit or debit card is linked to the account. The company confirmed it would only take the fee from the account balance itself and not from a linked card or account.

PayPal says an “inactive” account is where the customer hasn’t logged into their account or used it to send, receive or withdraw money.

The new fee introduced in the new usage guidelines does not apply to all countries. Great Britain, Ireland, and Hungary are explicitly excluded.

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