Paypal policy updates...yawn...

[Greenheart]

I'm asking on the PBO forum because virtually everything I use PayPal for, concerns my boat.

As far as I'm concerned, providing this single intermediary with my bank details, is more secure than giving them to numerous vendors of bolts, paints, blocks, neoprene socks and buoyancy bags.

But PayPal does like to update its legal position, far more than I like to read about the updates...

...the latest updates are over 26,000 words (a bit like reading everything I've ever posted here on the forum). :hopeless:

Does anybody with a lawyer's mind know how much the updates will affect a small-time user of this handy service? I don't sell anything by PayPal, I don't use it to send money to friends or family, and I'm a permanent UK resident.

Thanks for any insights. :encouragement:

 

[Sticky Fingers]

It looks OK. If you want to keep using PayPal you have to agree.

AFAICS the changes are:


1. A change to the way that balances are funded (looks like a banking change)
2. A change to the data protection rules (presumably GDPR related)
3. Changes to fees for personal transactions and personal cross border transactions
4. Clarification of coverage for PayPal seller protection, which may affect you if you buy things using non-Paypal intermediary services in which PayPal plays some part.

 

[Greenheart]

Thanks Scala, that does help somewhat.

I had read that some sneaky passage in the updates, quietly limits the user's recourse to PayPal's own customer protection, in instances where payments of less than £10,000 (or possibly $10,000) are at issue. Which would certainly lighten the load on PayPal, while leaving users adrift in cases of small (and not so small) disputes with vendors.

The sneaky bit being, that we might easily click our way through to accepting this, while just wanting to continue using the service.