Amendment to the PayPal User Agreement

If you are using  Paypal, then it is a must that you know this recent Amendment to the PayPal User Agreement  effective on June 12, 2012.

Quoting:

• In the User Agreement for PayPal Services:

Section 3 (“Additional Fees”) of Exhibit A - Fees has been amended as follows:

The Currency Conversion Fee for Users in Bhutan, Cambodia, China, Federated States of Micronesia, Hong Kong, India, Indonesia, Japan, Korea, Laos, Malaysia, Maldives, Mongolia, Nepal, New Zealand, Philippines, Samoa, Singapore, Sri Lanka, Taiwan, Thailand, Tonga and Vietnam, when sending a Personal or a Commercial Payment, has been changed as follows:

The Fee depends on the currency into which the amount is converted, as listed in the table below and is added to the exchange rate.

Currency:	Fee:
Argentine Peso:	4%
Australian Dollar:	4%
Brazilian Real:	4%
Canadian Dollar:	3.5%
Czech Koruna:	4%
Danish Kroner:	4%
Euro:	4%
Hong Kong Dollar:	4%
Hungarian Forint:	4%
Indian Rupee:	4%
Israeli New Shekel:	4%
Japanese Yen:	4%
Malaysian Ringgit	4%
Mexican Peso:	4%
New Zealand Dollar:	4%
Norwegian Krone:	4%
Philippine Peso:	4%
Polish Zloty:	4%
Singapore Dollar:	4%
Swedish Krona:	4%
Swiss Franc:	4%
New Taiwan Dollar:	4%
Thai Baht:	4%
Turkish Lira:	4%
U.K. Pounds Sterling:	4%
U.S. Dollar:	3.5%

Exhibit B – Country Specific Terms is hereby amended specifically for Hong Kong Users.

Users who have Business Accounts are considered by PayPal to have a business relationship with us. Users with Premier Accounts (unless you are a Seller and are a User of the PayPal Here product) and Personal Accounts are considered by PayPal to be occasional Users and do not have a business relationship with us. In relation to the Users who have Premier Accounts and Personal Accounts, PayPal transacts payments initiated by such Users at its sole and absolute discretion and PayPal reserves the right, at all times, to reject and refuse to transact such payments at any time without notice to such Users.