Common use of Refunds to your account Clause in Contracts

Refunds to your account. How refunds can happen We may allow the recipient of your payment to: • refuse to accept it; or • decide to accept it and then use our service to send you a refund of all or any part of the amount of the payment later. We will return the amount of any refused payment or refunded payment to your Balance. We will return the amount of an unclaimed payment to your balance within 30 days after the date you initiated the payment. If any amount of any payment is returned to you in any of the ways outlined above, we may convert the returned amount for you into either: • the currency of the balance you used for the original payment (before any conversion into the currency received by the recipient happened); • the opening currency of your account; or • US dollars (opening a balance in that currency for you, if you don’t have one already). If the original payment you sent involved a currency conversion we will convert the returned amount from the currency received by the recipient as follows: • if the amount is returned within 1 day of the date of the original payment we will use the transaction exchange rate applicable on the date of the original payment, so that you receive the original amount (including the currency conversion fee you paid) in the original currency you converted for the original payment; and • if the amount is returned after 1 day of the date of the original payment we will use the transaction exchange rate applicable at the time of the conversion of the returned amount. • You agree to bear the currency conversion fee for amounts returned to you as refunds or refused payments. We may also automatically withdraw the returned amount from your Balance and transfer the funds back to the funding source you used for the original payment. Withdrawals can also involve a currency conversion – see the section on Withdrawing money above. Risks when receiving refunds The returned amount could be lower in value than your original payment amount. This can happen as a result of: • the recipient sending you a refund lower in value than your original payment amount. As we are only a payment service provider, we cannot know what you are entitled to from the original payment recipient as a refund or why the recipient sent the refund in a particular amount; or • transaction exchange rate fluctuations. PayPal is not responsible for any loss resulting from the recipient's decision to refuse or refund your payment, except to the extent that a refund sent by the recipient is a payment executed incorrectly by PayPal We are not liable to you for the difference between the value of your original payment and the value of the resulting refund, except to the extent that the refund is an incorrect payment (see the section on Resolving Problems).