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PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Tue Oct 13 2020 10:58pm
by expressman33
PayPal is set to introduce an annual fee of up to £12 for users whose accounts have been inactive for a year or more – but you can avoid the charge by logging into your account before the deadline in December.
https://www.moneysavingexpert.com/news/ ... --act-now/
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Tue Oct 13 2020 11:31pm
by BeautifulSunshine
Crikey! £1 a month. Extortionate.
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Tue Oct 13 2020 11:36pm
by Sarah
It is; although many online wallets and pre-paid cards charge similar inactivity fees.
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Wed Oct 14 2020 8:00am
by blythburgh
Extortionate? Yes, but if you are not using the account why not close it?
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Wed Oct 14 2020 7:45pm
by planteria
i rarely use paypal, but it's linked to my Ebay account i think
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Thu Oct 15 2020 7:40am
by blythburgh
So make sure you buy something via ebay once a year
Now read the link above and according to Money Saving Expert bit:
PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account.
If your account has been inactive for over 12 months, the fee you're charged will be the lesser of £12 or your entire PayPal balance. If you don't have any money in your PayPal account, or your balance is negative, PayPal says you won't be charged a fee (even if you have a credit or debit card linked to the account).
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Thu Oct 15 2020 9:02am
by Richard Frost
blythburgh wrote: ↑Thu Oct 15 2020 7:40am
So make sure you buy something via ebay once a year
Now read the link above and according to Money Saving Expert bit:
PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account.
If your account has been inactive for over 12 months, the fee you're charged will be the lesser of £12 or your entire PayPal balance. If you don't have any money in your PayPal account, or your balance is negative, PayPal says you won't be charged a fee (even if you have a credit or debit card linked to the account).
Why are you saying you need to buy something? No need to buy anything at all. If you have a zero balance no fee will be charged. You could have an account open and never use it. Zero balance = no fee. You could even get imutual to pay in your cashback to Paypal this would count as activity.
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Thu Oct 15 2020 11:52am
by Sarah
Yep, it'll allow them to drain funds left in unused accounts but probably need not worry anyone that only sends money or withdraws their funds promptly. The minimum withdrawal is £1 these days; anything above that could be withdrawn once cleared if not spent.
Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Wed Nov 18 2020 10:33pm
by expressman33
Just received this phishing email
PayPal
We don’t want to say goodbye
We noticed that you haven't used PayPal lately, and since your security is a top priority,
We're planning to close the account you created with your
It's going to close in 7 days, unless you act soon. "MY EMAILxxxxxx "
Reactive Now
To keep your account, Please Just Update Payment information before Nov 25, 2020
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Re: PayPal to introduce £12/yr fee for 'inactive' accounts – act now to dodge it
Posted: Wed Nov 18 2020 11:41pm
by BeautifulSunshine
I get a regular stream of PayPal SPAM emails, GMail does a good job of auto sending them to the junk folder.