Commercial Entity Status. If the activity through any type of PayPal account you hold reaches certain thresholds or involves certain business segments or activities, you are required by the card networks to agree to a Commercial Entity Agreement to allow you to continue accepting Visa and MasterCard payments. In this case, these Commercial Entity Agreements will apply to any payment processed by PayPal on your behalf and will form part of this user agreement. Closing Your PayPal Account You may close your account and terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your PayPal account even after the PayPal account is closed. When you close your PayPal account, we will cancel any scheduled or incomplete transactions. You must withdraw or transfer any PayPal balance from your PayPal account before closing it. You cannot withdraw or transfer digital gift certificates/cards that are purchased through PayPal Digital Gifts and linked to your PayPal account as payment methods. However, even without your PayPal account, you can still use the codes you received by email when you purchased the gift certificates/cards to make purchases. In certain cases, you may not close your PayPal account, including: • To evade an investigation. • If you have a pending transaction or an open dispute or claim. • If your PayPal account has a negative balance. • If your PayPal account is subject to a hold, limitation or reserve. • If you have an outstanding balance on a loan from us or one of our affiliates. Any funds we are holding for you at the time of closure, less any fees, will be paid to you at our discretion by: • Direct deposit to your linked Australian bank account or United States bank account; or • A cheque mailed to the address listed in your account. Link or Unlink a Payment Method You can link or unlink a debit card, credit card, or an Australian bank account to your PayPal account as a payment method. Please keep your payment method information current (e.g. credit card number and expiration date). If this information changes, we may update it using information and third party sources available to us without any action on your part. If you do not want us to update your card information, you may remove your payment method from your PayPal account. If we update your payment method, we will keep any preference setting attached to such payment method. You may choose to confirm your card, so that we can verify that the card is valid and that you are the card owner.
Appears in 10 contracts
Samples: Paypal User Agreement, Paypal User Agreement, Paypal User Agreement
Commercial Entity Status. If the activity through any type of PayPal your business account you hold reaches certain thresholds or involves certain business segments or activities, you are required by the card networks to agree to a Commercial Entity Agreement to allow you to continue accepting Visa and MasterCard payments. In this case, these Commercial Entity Agreements will apply to any payment processed by PayPal on your behalf and will form part of this user agreement. Closing Your PayPal Account You may close your account and terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your PayPal account even after the PayPal account is closed. When you close your PayPal account, we will cancel any scheduled or incomplete transactions. You must withdraw or transfer any PayPal balance from your PayPal account before closing it. You cannot withdraw or transfer digital gift certificates/cards that are purchased through PayPal Digital Gifts and linked to your PayPal account as payment methods. However, even without your PayPal account, you can still use the codes you received by email when you purchased the gift certificates/cards to make purchases. In certain cases, you may not close your PayPal account, including: • To evade an investigation. • If you have a pending transaction or an open dispute or claim. • If your PayPal account has a negative balance. • If your PayPal account is subject to a hold, limitation or reserve. • If you have an outstanding balance on a loan from us or one of our affiliates. Any funds we are holding for you at the time of closure, less any fees, will be paid to you at our discretion by: • Direct deposit to your linked Australian bank account or United States bank account; or • A cheque mailed to the address listed in your account. Link or Unlink a Payment Method You can link or unlink a debit card, credit card, or an Australian bank account to your PayPal account as a payment method. Please keep your payment method information current (e.g. credit card number and expiration date). If this information changes, we may update it using information and third party sources available to us without any action on your part. If you do not want us to update your card information, you may remove your payment method from your PayPal account. If we update your payment method, we will keep any preference setting attached to such payment method. You may choose to confirm your card, so that we can verify that the card is valid and that you are the card owner. Holding a PayPal Balance You may choose to carry a balance in your account. However, we may require you to deposit funds into your account to cover reversals or repay a negative balance. You acknowledge and agree that we are entitled to any interest earned on funds held on your behalf, and that interest will not be paid into your account. Adding or Withdrawing Money Adding money You may use the payment methods linked to your PayPal account to fund transactions you make using your PayPal account and you don’t need a PayPal balance to buy something or send money. Credit cards cannot be used to top up your PayPal balance. Withdrawing money If you have a PayPal balance, you may withdraw it by converting it to Australian Dollars and: • transferring it to a bank account linked to your PayPal account. Any PayPal balance in US Dollars may be withdrawn to a US bank account linked to your PayPal account, subject to the Fee for Transferring Balance in clause 18.21 of our Product Disclosure Statement; • transferring it to an eligible debit card linked to your PayPal account, subject to the Fee for Transferring Balance in clause 18.20 of our Product Disclosure Statement that will be disclosed to you in advance each time you initiate such a withdrawal. To protect us and our users from loss, we may delay a withdrawal, in certain situations, including if we need to confirm that you have authorised the withdrawal or if other payments to your PayPal account have been subject to a reversal (for example, as a result of a chargeback, bank reversal or dispute by a buyer). If we place a limitation on your PayPal account, a payment is subject to a hold, or your account or an associated account has a negative balance in any currency while a withdrawal from your PayPal account is pending, you will have to reinitiate the withdrawal once the limitation or hold has been lifted, or negative balance is fully paid off. We may set limits on your withdrawals, and you can view any withdrawal limit by logging into your PayPal account. Completing the following steps can help us verify your PayPal account, which may allow us to remove any withdrawal cap: • Verifying your bank account. • Linking and confirming your credit or debit card information. Managing Your Money in Multiple Currencies Holding a PayPal balance in a currency other than Australian dollars PayPal may allow you to hold a balance in currencies other than Australian dollars. If you hold a PayPal balance, • we may allow you to convert it to balance in another currency. If you convert your balance, PayPal’s transaction exchange rate (including our currency conversion fee) will be used. We may, at our discretion, impose limits on the amount of money you can convert or the number of conversions you can perform; • you may only withdraw it in Australian dollars, or US dollars (only when you withdraw the US dollars into your US bank account linked to your PayPal account). In order to withdraw balance held in another currency you will have to convert the currency to Australian dollars, or it will be converted for you at the time of your withdrawal. PayPal’s currency conversion rate, including our currency conversion fees, will be used. You are responsible for all risks associated with maintaining multiple currencies in a PayPal account. You may not manage or convert currencies for speculative trading purposes, conversion arbitrage, conversion options, or any other activity that PayPal determines is primarily for the purpose of gaining or making money based on currency conversion rates. PayPal may hold, cancel, or reverse any transaction we determine to violate this policy. How we convert currency If PayPal converts currency, it will be completed at the transaction exchange rate we set for the relevant currency exchange. The transaction exchange rate is adjusted regularly and includes a currency conversion fee (described below) applied and retained by us on a base exchange rate to form the rate applicable to your conversion. The base exchange rate is based on rates within the wholesale currency markets on the conversion day or the prior business day; or, if required by law or regulation, set at the relevant government reference rate(s). For some uses of your PayPal account, PayPal may determine currency conversion is necessary. For any of the following transactions that involve a currency conversion, the currency conversion fee is 3.5% for converting to or from US Dollars or Canadian Dollars, and 4.0% for converting to or from all other currencies: • Paying for goods or services in a currency other than the currency the goods or services are listed in. • Receiving a refund beyond 1 day of the original payment. • Sending money to a friend or family member such that they receive a different currency from the currency you pay in. • Sending money using PayPal’s Payouts or MassPay products such that your recipients receive a different currency from the currency you pay in. For all other transactions involving a currency conversion, the currency conversion fee is 2.5%. Currency conversion choices When your payment is funded by a debit or credit card and PayPal determines a currency conversion is necessary, you consent to and authorise PayPal to convert the currency in place of your debit or credit card issuer. In most cases, you may have the right to have your card issuer perform the currency conversion, if applicable for that card issuer and network. Currency preference selections may be presented to you in various forms, including a choice of which currency is used for the transaction, whether PayPal or your card issuer performs the conversion, or which conversion rate is used for the transaction, among others, and may be made available individually for each card and for each automatic payment agreement. If your card issuer converts the currency, your card issuer will determine the currency conversion rate and what fees they may charge. PayPal will always perform the conversion for transactions where your PayPal balance or linked bank account is the payment method. Account Statements and Requesting Account Records You have the right to receive an account statement showing your PayPal account activity. You may view your PayPal account statement by logging into your PayPal account. In the event you request that we send you hard-copy records related to your PayPal account, we may charge you a fee of $10.00 per item requested but we won’t charge you for records requested in connection with your good-faith assertion of an error in your PayPal account. Your personal data As a PayPal user, or when you use our services or access our sites, you consent to our use of your personal data in accordance with our Privacy Statement.
Appears in 1 contract
Samples: User Agreement
Commercial Entity Status. If the activity through any type of PayPal account you hold reaches certain thresholds or involves certain business segments or activities, you are required by the card networks to agree to a Commercial Entity Agreement to allow you to continue accepting Visa and MasterCard payments. In this case, these Commercial Entity Agreements will apply to any payment processed by PayPal on your behalf and will form part of this user agreement. Closing Your PayPal Account You may close your account and terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your PayPal account even after the PayPal account is closed. When you close your PayPal account, we will cancel any scheduled or incomplete transactions. You must withdraw or transfer any PayPal balance from your PayPal account before closing it. You cannot withdraw or transfer digital gift certificates/cards that are purchased through PayPal Digital Gifts and linked to your PayPal account as payment methods. However, even without your PayPal account, you can still use the codes you received by email when you purchased the gift certificates/cards to make purchases. In certain cases, you may not close your PayPal account, including: • To evade an investigation. • If you have a pending transaction or an open dispute or claim. • If your PayPal account has a negative balance. • If your PayPal account is subject to a hold, limitation or reserve. • If you have an outstanding balance on a loan from us or one of our affiliates. Any funds we are holding for you at the time of closure, less any fees, will be paid to you at our discretion by: • Direct deposit to your linked Australian bank account or United States bank account; or • A cheque mailed to the address listed in your account. Link or Unlink a Payment Method You can link or unlink a debit card, credit card, or an Australian bank account to your PayPal account as a payment method. Please keep your payment method information current (e.g. credit card number and expiration date). If this information changes, we may update it using information and third party sources available to us without any action on your part. If you do not want us to update your card information, you may remove your payment method from your PayPal account. If we update your payment method, we will keep any preference setting attached to such payment method. You may choose to confirm your card, so that we can verify that the card is valid and that you are the card owner. Holding a PayPal Balance You may choose to carry a balance in your account. However, we may require you to deposit funds into your account to cover reversals or repay a negative balance. You acknowledge and agree that we are entitled to any interest earned on funds held on your behalf, and that interest will not be paid into your account. Adding or Withdrawing Money Adding money You may use the payment methods linked to your PayPal account to fund transactions you make using your PayPal account and you don’t need a PayPal balance to buy something or send money. Credit cards cannot be used to top up your PayPal balance. Withdrawing money If you have a PayPal balance, you may withdraw it by converting it to Australian Dollars and: • transferring it to a bank account linked to your PayPal account. Any PayPal balance in US Dollars may be withdrawn to a US bank account linked to your PayPal account, subject to the Fee for Transferring Balance in clause 18.21 of our Product Disclosure Statement; • transferring it to an eligible debit card or bank account linked to your PayPal account, subject to the Fee for Transferring Balance in clause 18.20 of our Product Disclosure Statement that will be disclosed to you in advance each time you initiate such a withdrawal. To protect us and our users from loss, we may delay a withdrawal, in certain situations, including if we need to confirm that you have authorised the withdrawal or if other payments to your PayPal account have been subject to a reversal (for example, as a result of a chargeback, bank reversal or dispute by a buyer). If we place a limitation on your PayPal account, a payment is subject to a hold, or your account or an associated account has a negative balance in any currency while a withdrawal from your PayPal account is pending, you will have to reinitiate the withdrawal once the limitation or hold has been lifted, or negative balance is fully paid off. We may set limits on your withdrawals, and you can view any withdrawal limit by logging into your PayPal account. Completing the following steps can help us verify your PayPal account, which may allow us to remove any withdrawal cap: • Verifying your bank account. • Linking and confirming your credit or debit card information.
Appears in 1 contract
Samples: Paypal User Agreement
Commercial Entity Status. If the activity through any type of PayPal your business account you hold reaches certain thresholds or involves certain business segments or activities, you are required by the card networks to agree to a Commercial Entity Agreement to allow you to continue accepting Visa and MasterCard payments. In this case, these Commercial Entity Agreements will apply to any payment processed by PayPal on your behalf and will form part of this user agreement. Closing Your PayPal Account You may close your account and terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your PayPal account even after the PayPal account is closed. When you close your PayPal account, we will cancel any scheduled or incomplete transactions. You must withdraw or transfer any PayPal balance from your PayPal account before closing it. You cannot withdraw or transfer digital gift certificates/cards that are purchased through PayPal Digital Gifts and linked to your PayPal account as payment methods. However, even without your PayPal account, you can still use the codes you received by email when you purchased the gift certificates/cards to make purchases. In certain cases, you may not close your PayPal account, including: • To evade an investigation. • If you have a pending transaction or an open dispute or claim. • If your PayPal account has a negative balance. • If your PayPal account is subject to a hold, limitation or reserve. • If you have an outstanding balance on a loan from us or one of our affiliates. Any funds we are holding for you at the time of closure, less any fees, will be paid to you at our discretion by: • Direct deposit to your linked Australian bank account or United States bank account; or • A cheque mailed to the address listed in your account. Link or Unlink a Payment Method You can link or unlink a debit card, credit card, or an Australian bank account to your PayPal account as a payment method. Please keep your payment method information current (e.g. credit card number and expiration date). If this information changes, we may update it using information and third party sources available to us without any action on your part. If you do not want us to update your card information, you may contact your issuer to request this or remove your payment method from your PayPal account. If we update your payment method, we will keep any preference setting attached to such payment method. You may choose to confirm your card, so that we can verify that the card is valid and that you are the card owner. Holding a PayPal Balance You may choose to carry a balance in your account. However, we may require you to deposit funds into your account to cover reversals or repay a negative balance. You acknowledge and agree that we are entitled to any interest earned on funds held on your behalf, and that interest will not be paid into your account. Adding or Withdrawing Money Adding money You may use the payment methods linked to your PayPal account to fund transactions you make using your PayPal account and you don’t need a PayPal balance to buy something or send money. Credit cards cannot be used to top up your PayPal balance. Withdrawing money If you have a PayPal balance, you may withdraw it by converting it to Australian Dollars and transferring it to a bank account linked to your PayPal account. Any PayPal balance in US Dollars may be withdrawn to a US bank account linked to your PayPal account, subject to the Fee for Transferring Balance (for business accounts) in clause 18.20 of our Product Disclosure Statement. To protect us and our users from loss, we may delay a withdrawal, in certain situations, including if we need to confirm that you have authorised the withdrawal or if other payments to your PayPal account have been subject to a reversal (for example, as a result of a chargeback, bank reversal or dispute by a buyer). If we place a limitation on your PayPal account, a payment is subject to a hold, or your account or an associated account has a negative balance in any currency while a withdrawal from your PayPal account is pending, you will have to reinitiate the withdrawal once the limitation or hold has been lifted, or negative balance is fully paid off. We may set limits on your withdrawals, and you can view any withdrawal limit by logging into your PayPal account. Completing the following steps can help us verify your PayPal account, which may allow us to remove any withdrawal cap: • Verifying your bank account. • Linking and confirming your credit or debit card information. Managing Your Money in Multiple Currencies Holding a PayPal balance in a currency other than Australian dollars PayPal may allow you to hold a balance in currencies other than Australian dollars. If you hold a PayPal balance, • we may allow you to convert it to balance in another currency. If you convert your balance, PayPal’s transaction exchange rate (including our currency conversion fee) will be used. We may, at our discretion, impose limits on the amount of money you can convert or the number of conversions you can perform; • you may only withdraw it in Australian dollars, or US dollars (only when you withdraw the US dollars into your US bank account linked to your PayPal account). In order to withdraw balance held in another currency you will have to convert the currency to Australian dollars, or it will be converted for you at the time of your withdrawal. PayPal’s currency conversion rate, including our currency conversion fees, will be used. You are responsible for all risks associated with maintaining multiple currencies in a PayPal account. You may not manage or convert currencies for speculative trading purposes, conversion arbitrage, conversion options, or any other activity that PayPal determines is primarily for the purpose of gaining or making money based on currency conversion rates. PayPal may hold, cancel, or reverse any transaction we determine to violate this policy. How we convert currency If PayPal converts currency, it will be completed at the transaction exchange rate we set for the relevant currency exchange. The transaction exchange rate is adjusted regularly and includes a currency conversion fee (described below) applied and retained by us on a base exchange rate to form the rate applicable to your conversion. The base exchange rate is based on rates within the wholesale currency markets on the conversion day or the prior business day; or, if required by law or regulation, set at the relevant government reference rate(s). For some uses of your PayPal account, PayPal may determine currency conversion is necessary. For any of the following transactions that involve a currency conversion, the currency conversion fee is 3.5% for converting to US Dollars or Canadian Dollars, and 4.0% for converting to all other currencies: • Paying for goods or services in a currency other than the currency the goods or services are listed in. • Sending money to a friend or family member such that they receive a different currency from the currency you pay in. • Sending money using PayPal’s Payouts or MassPay products such that your recipients receive a different currency from the currency you pay in. For all other transactions involving a currency conversion, the currency conversion fee is 2.5%. Currency conversion choices When your payment is funded by a debit or credit card and PayPal determines a currency conversion is necessary, you consent to and authorise PayPal to convert the currency in place of your debit or credit card issuer. In most cases, you may have the right to have your card issuer perform the currency conversion, if applicable for that card issuer and network. Currency preference selections may be presented to you in various forms, including a choice of which currency is used for the transaction, whether PayPal or your card issuer performs the conversion, or which conversion rate is used for the transaction, among others, and may be made available individually for each card and for each automatic payment agreement. If your card issuer converts the currency, your card issuer will determine the currency conversion rate and what fees they may charge. PayPal will always perform the conversion for transactions where your PayPal balance or linked bank account is the payment method. Account Statements and Requesting Account Records You have the right to receive an account statement showing your PayPal account activity. You may view your PayPal account statement by logging into your PayPal account. In the event you request that we send you hard-copy records related to your PayPal account, we may charge you a fee of $10.00 per item requested but we won’t charge you for records requested in connection with your good-faith assertion of an error in your PayPal account. Your personal data As a PayPal user, or when you use our services or access our sites, you consent to our use of your personal data in accordance with our Privacy Statement.
Appears in 1 contract
Samples: Paypal User Agreement
