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Have you read the latest PayPal updates?

mildredtabitha

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It's been two months now since I last used PayPal and this is due to the fact that I haven't been actively working online lately. I need to put more effort now to boost my PayPal balance.

I got an email on Monday from PayPal about the new policy updates. Seems like the fees have increased and I don't know the impact it will have unless I actively start sending and receiving money with PayPal again. Attached is the PayPal policy updates. Do you agree with them? Which country do you think is the most affected?
 

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  • policy_updates.pdf
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Seems like the fees have increased
Indeed it has. I believe a lot of people will look now for Paypal ALTERNATIVES.

paypal fees.jpg
 
I notice it says to a US bank account...I will assume then that it does not mean to a bank account in your own country. Not sure why someone in, say, the Philippines would want a bank account in the USA, but that $35 does seem rather steep.
 
I notice it says to a US bank account...I will assume then that it does not mean to a bank account in your own country. Not sure why someone in, say, the Philippines would want a bank account in the USA, but that $35 does seem rather steep.
Well, in my case, I'm a foreigner living in Japan so I'd want to transfer my Paypal funds (USD) to my US bank account. I'd assume it's the same for people in other countries.

I'm not sure if that chart means I have to pay a fee if I'm located in Japan at the time of requesting for money or if I'm transfering Japanese Yen to my US account. My Paypal account was made in the US and it has a US address and verification. If I want to withdraw USD to my US bank account, I still have to pay this fee if I'm not located in the US? Do they determine our location based on IP because I've been using Paypal.com in Japan and not Paypal.jp.
 
Well, in my case, I'm a foreigner living in Japan so I'd want to transfer my Paypal funds (USD) to my US bank account. I'd assume it's the same for people in other countries.

I'm not sure if that chart means I have to pay a fee if I'm located in Japan at the time of requesting for money or if I'm transfering Japanese Yen to my US account. My Paypal account was made in the US and it has a US address and verification. If I want to withdraw USD to my US bank account, I still have to pay this fee if I'm not located in the US? Do they determine our location based on IP because I've been using Paypal.com in Japan and not Paypal.jp.
I'm pretty sure this would mean if you have a Japanese PayPal account...if your PayPal account is registered in the USA, then it would not apply to you regardless of where you are currently living, at least that is my understanding.
 
If that is the case, then I have nothing to worry about. I'll make sure to double check just in case though. I don't want to pay the 2.5% fee and I'll be moving back to the US next year anyway so I can just wait if I need to pay a fee.
 
And we have no option but to accept the updates since the second option is for closing your account if you disagree with them. I also think the high fees is for discouraging PayPal users from opening and withdrawing to a US bank account. It is safe to assume that we will be safer if we withdraw to our local bank account.
 
But like @JolietJake said, why would anyone withdraw to a US account if they didn't already have a Paypal account from the US? Were people purposely doing that to avoid fees before? If yes, that's probably why Paypal increased fees...
 
But like @JolietJake said, why would anyone withdraw to a US account if they didn't already have a Paypal account from the US? Were people purposely doing that to avoid fees before? If yes, that's probably why Paypal increased fees...
Well For Me Living In Morocco, I Have Problems Withdrawing Due To Fees, So I thought About A Fix "Not Done Yet" Which Is Using Transferwise Borderless Account To Get A US Bank Details So That I Can Send Money From Paypal => transerwise => Local Bank Account, I Believe People Did The Same Even If With Different Methods, That's Why The Fees Increased, "I Think"
 
This is not favourable but I also believe that if PayPal supports my country there won't be any need to open a US bank account, one would just his local bank to PayPal. The best is to find alternative to PayPal
 
$35 is such a ridiculous fee to withdrawal but I never have to worry about such a high fee because I have lived in the good old USA all my life and never been to any other countries.I never read paypal changes of terms.
 
That's a very sad news. I have been using PayPal services for a long time now because of their reliable services. I will now have no choice except looking for other alternatives. This fee is rediculusly high.
 
I notice it says to a US bank account...I will assume then that it does not mean to a bank account in your own country. Not sure why someone in, say, the Philippines would want a bank account in the USA, but that $35 does seem rather steep.
Some politicians here in the Philippines would open an account in different countries like in the US because they're avoiding declaring their true assets.
 
This is beyond ridiculous, not only did they roll this out they also changed the fees for sending to Euro accounts. 2.9% of the amount plus a transfer fee.
 
I have tried transferring my Paypal earnings to my debit card account the other day and there was no charges fee at all no changes. But I'm not sure if they have changed the rates when you withdraw the money into a cash through ATM machine.
 
I have tried transferring my Paypal earnings to my debit card account the other day and there was no charges fee at all no changes. But I'm not sure if they have changed the rates when you withdraw the money into a cash through ATM machine.


The policy update will be effective as from date May 10. I think that is the reason you haven't experienced any fees. But I still hope that even after the said date, not everyone will be affected especially if you use your local banks.

The PayPal update doesn't affect the rate for withdrawing cash from an ATM because it is the bank that sets its own rates.
 
This update is not a favourable despite the fact that is yet to take effect, the charges are just too much and I am afraid that with this PayPal may loose some of it subscribers cos alternative means will seeked
 
I think we all should do that but Sometimes we may overlook at it but we can take the help of our friends anytime and even these pay to post forums do help as friends like you do post about it and we can get information with that.
 
Wow! That $35 per withdrawal fee is quite discouraging. I hadn't read about it until now but it sure does look like it's time for more reasonable options. Am I right in assuming that someone (from the affected regions) withdrawing $50 under this system would only receive $15?Hopefully I am wrong and this only applies for much higher amounts. Even then it's still high. My word!:confused:
 

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