PayPal users may face a new fee this week - will you be affected & how can you avoid it?
PayPal is a commonly used online payment company who reportedly service millions of UK customers and businesses. Despite the widespread use of the company’s products, a new fee may catch many inactive users off guard.
From December 16, this Wednesday, PayPal may charge an annual fee on “inactive” users.
This fee will likely range between £9 and £12 and it will be levied on those who have been inactive for 12 consecutive months.
A user will be classed as inactive if they haven’t sent, received or withdrawn money from their accounts within the time frame.
To avoid this charge, users can log into their account and change their details before the 16th arrives.
READ MORE: PayPal warning: Martin Lewis highlights a worrying new trend
“It will also warn inactive customers that they could need to pay a fee, by sending those notifications 60 days, 30 days and then seven days before the fee is set to be charged.”
It’s possible some users may have set up their PayPal accounts for a sole purchase, with a number of companies exclusively using their software or heavily favouring them.
PayPal details that if something has gone wrong or users are having difficulty with their accounts, they can contact a designated customer service team.
PayPal accounts can be closed entirely but the company urges users to make sure there is no money in their balances before doing so.
It should be noted it is not possible to reopen an account when it has been closed and as such, careful consideration should be taken.
The fee will not only affect users within the UK as it will also be levied throughout Europe.
However, users registered in Ireland will not be affected, nor will personal accounts in Hungary.
Full details on the changes can be found on PayPal’s website.
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