Do you have a PayPal account? How often do you use it? There is a new PayPal warning and it might affect you! The company are implementing some changes from December 2020 when anyone with an inactive account will start being charged.
Why The PayPal Warning?
From 16th December 2020, if a users PayPal account has been inactive for 12 months in a row, they will be charged £12. PayPal is such a convenient way to have subscriptions set up or pay for items on eBay and other online platforms. It also provides some decent protection when you shop and pay via them. They protect you as a seller too. Read more about PayPal buyer and seller protection here.
How To Avoid The Charge
The definition of inactive that PayPal are putting forward for this change is when a user hasn’t received money, withdrawn, sent or logged into their account. If you have an old PayPal account which you’ve just let sit there and no longer use, log in to avoid the charge and then consider closing it down. It might be an idea to make a note or put something to pop up on your phone to remind you to log in every 6 months or so. If you have a smartphone, you can download the app and log in with your fingerprint. So it really shouldn’t take much time at all to avoid the charge.
PayPal have stated that there will be warnings before a fee is taken. At 60 days before, 30 days before and seven days before. Take the PayPal warning seriously if you want to avoid the charge and keep logging in regularly. The payment will be taken automatically via the card you have connected to your PayPal account so if you want to avoid this potential charge, be sure to log in frequently. If you do not really need it anymore, simply close your account down.
