Tips and Tricks about Paypal account
This user agreement is a contract between you and PayPal Pte. Ltd., a Singaporean corporation, that governs your use of your PayPal account and the PayPal services. If you are an individual, you must be a resident of one of the countries/regions listed on the PayPal Worldwide page and at least 18 years old, or the age of majority in your country/region of residence, to open a PayPal account and use the
PayPal services. If you are a business, you must be organized in, operating in, or a resident of one of the countries/regions listed on the PayPal Worldwide website in order to open a PayPal account and utilize the PayPal services.
By opening and using a PayPal account, you agree to all of the terms and conditions.
Please read carefully all of the terms and conditions of this user agreement, the terms of these policies and each of the other agreements that apply to you.
We reserve the right to change this user agreement and any of the policies described above at any time. Unless otherwise stated, the new version will be effective when we release it on our website. If we make changes that limit your rights or increase your duties, we will post a notice on our website's Policy Updates page and give you at least 14 days' notice. All future modifications set out in the Policy Updates page, which is already published on the Legal Agreements page when you register for PayPal services, are incorporated by reference into this user agreement and will take effect as described in the Policy Update.
If you do not agree to the revised terms and conditions, you must stop using the PayPal services, close your account and terminate your relationship with us without cost or penalty. This user agreement will continue to apply to your previous use of our services
About our main business
PayPal is a payment services provider and acts as such by creating, hosting, maintaining and providing our PayPal services to you via the internet. Our services allow you to send payments to anyone with a PayPal account, and, where available, to receive payments. Our service availability varies by country/region. You can see what services are available in your country/region by logging into your PayPal account.
The PayPal services are offered by PayPal Pte. Ltd.
This user agreement is not a solicitation of the PayPal services and PayPal is not targeting any country/region or market through this user agreement.
Opening an Account
We offer two types of accounts: personal accounts and business accounts.
All PayPal accounts let you do things like:
- Send and receive payments.
- Buy things online, using mobile devices or in stores.
- Make payments using your credit card, debit card, bank account, PayPal balance, eCheque or other payment methods.
- Accept credit card, debit card, bank account, PayPal balance, eCheque or other payment methods from others.
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers, or any other codes that you use to access your PayPal account and the PayPal services.
In order to open and maintain a PayPal account, you must list your correct country/region of residence and provide us with correct and updated account information, including but not limited to personal information, financial information, or other information related to you or your business.
You must keep your mailing address, email address and other contact information current in your PayPal account profile.
Personal accounts
If you primarily need to make purchases and send payments to family and friends, a personal account is probably right for you. With a personal account you can do things like:
- Buy goods and services.
- Send and request payments from friends and family.
You can also use a personal account to receive payments for the sale of goods and services, but if you plan to use your PayPal account primarily to sell things, you should consider a business account. You can convert your PayPal account from a personal account to a business account should circumstances change.
Business accounts
We recommend business accounts for people and organizations that primarily use PayPal to sell goods or services, even if your business is not incorporated. With a business account, you can do things like:
- Use a company or business name as the name on your PayPal account.
- Allow employees access to some of the features of your PayPal account.
- Sign up for PayPal products that meet your business needs.
Business accounts may be subject to fees that differ from the fees applicable to personal accounts.
By opening up a business account or converting a personal account to a business account, you certify to us that you are using it primarily for a business or commercial purpose. You also consent to PayPal obtaining your personal and/or business credit report from a credit reporting agency at account opening, when you request certain new products and whenever we reasonably believe there may be an increased level of risk associated with your business account.
Commercial Entity Agreement
Commercial Entity Agreement
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.
Third Party permissions
You must be the beneficial owner of your PayPal account, and conduct business only on behalf of yourself.
You may expressly grant, remove and manage permissions for some third parties to take certain actions on your behalf. In some cases, you can do this when logged into your PayPal account – in other cases, you can do this directly with the third party. You acknowledge that if you grant permission for a third party to take actions on your behalf, we may disclose certain information about your PayPal account to this third party.
You may permit third party service providers licensed by applicable law to:
- provide account information services to access information about your account on your behalf;
- confirm whether an amount necessary for the execution of a card-based payment transaction is available on your account; or
- provide payment initiation services to initiate payments from your account on your behalf.
Granting permission to any third party to access your PayPal account in any way does not relieve you of any of your responsibilities under this user agreement. You are liable to us for the actions that you authorize the third parties to carry out. You will not hold us responsible for, and you will indemnify us from, any liability arising from the actions or inactions of such third parties in connection with the permissions you granted, subject to your mandatory legal rights.
Closing Your PayPal Account
You may close your account and terminate your relationship with us at any time without cost or penalty, 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.
Link or Unlink a Payment Method
You can link or unlink a credit card, debit card or a bank account to your PayPal account as a payment method. Please keep your payment method information current (i.e. 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
Any PayPal balance you hold represents an unsecured claim against PayPal. PayPal combines your balance with the balances of other users and invests those funds in liquid investments. These pooled amounts are held separate from PayPal's corporate funds, and PayPal will neither use these funds for its operating expenses or any other corporate purposes nor will it voluntarily make these funds available to its creditors in the event of bankruptcy. You will not receive interest or other earnings on the amounts in your balance. You agree PayPal shall own the interest or other earnings on these investments. You agree to assign any rights to any interest derived from your funds to PayPal.
Adding or Withdrawing Funds
Adding or Withdrawing Funds
Adding funds to your balance
You may use the payment methods linked to your PayPal account to fund transactions you make using your PayPal account. You don't need a PayPal balance to buy something or send payments. You can add funds your PayPal account from the bank account that's linked to your PayPal account by requesting an electronic transfer to your PayPal account. The amount transferred will be held as a balance in your PayPal account. Credit cards cannot be used to add funds to your PayPal balance.
Holding a PayPal Balance
Any PayPal balance you hold represents an unsecured claim against PayPal. PayPal combines your balance with the balances of other users and invests those funds in liquid investments. These pooled amounts are held separate from PayPal's corporate funds, and PayPal will neither use these funds for its operating expenses or any other corporate purposes nor will it voluntarily make these funds available to its creditors in the event of bankruptcy. You will not receive interest or other earnings on the amounts in your balance. You agree PayPal shall own the interest or other earnings on these investments. You agree to assign any rights to any interest derived from your funds to PayPal.
Adding or Withdrawing Funds
Adding funds to your balance
You may use the payment methods linked to your PayPal account to fund transactions you make using your PayPal account. You don't need a PayPal balance to buy something or send payments. You can add funds your PayPal account from the bank account that's linked to your PayPal account by requesting an electronic transfer to your PayPal account. The amount transferred will be held as a balance in your PayPal account. Credit cards cannot be used to add funds to your PayPal balance.
Withdrawing funds from your balance
If you have a PayPal balance, log into your PayPal account to see which of these withdrawal options are available in your country/region:
transferring it to a bank account linked to your PayPal account; or
transferring it to your debit or credit card, where available; or
requesting a physical cheque through the mail, where available.
Depending on the country/region in which your account is registered, you may be able to withdraw your funds through a third party service provider. Please see terms of such third party for information regarding currency conversions.
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 authorized 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 the 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; and
- Linking and confirming your credit card or debit card information.
We may charge a fee to make a transfer to your bank account. If your debit card is eligible to receive withdrawals from your PayPal account, you will be provided the option to use it when you transfer funds out of your PayPal balance, subject to the fees applicable to such transfers that can be found on the Fees for Transferring Balance (for personal accounts) page and the Fees for Transferring Balance (for business accounts) page. The applicable fees will be disclosed to you in advance each time you initiate such a withdrawal.
Generally, we will send physical cheques through the mail only to confirmed addresses, unless we have verified your PayPal account. We will not send cheques to post office boxes. If you would like us to send a cheque to an address that does not meet these criteria, you must contact customer service and provide the documentation that we request to verify your association with the address. If you fail to cash a cheque within 180 Days of the date of issuance, we will return the funds to your balance (minus a fee).
Managing Your Balance in Multiple Currencies
Holding multiple currencies
Your PayPal balance may be held in any of the currencies supported by PayPal, and you may hold a balance in more than one of these currencies at the same time.
If you hold a balance in your PayPal account:
We may allow you to convert the balance into another currency. If you convert the balance in your account, PayPal's transaction exchange rate (including our currency conversion fee) will be used. We may, at our discretion, impose limits on the amount of your balance that you can convert or the number of conversions you can perform.
You may only withdraw the balance in the opening currency of your account or such other currency that PayPal supports for withdrawal in your registered country/region. In order to withdraw the balance in your account which is held in another currency you will have to convert the currency to the opening currency of your account, or it will be converted for you at the time of your withdrawal. PayPal's transaction exchange rate, including our currency conversion fee, will be used.
To receive funds in a currency that your account is not currently configured to accept, it may be necessary to create a balance in your PayPal account in that currency or convert the balance into another currency. Certain currencies can only be received by converting the balance into another currency that PayPal allows you to hold. If the balance is converted, PayPal's transaction exchange rate (including our currency conversion fee) will be used.
You are responsible for all risks associated with maintaining multiple currencies in your 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 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 accounts, PayPal may determine currency conversion is necessary. The currency conversion fee applicable can be found on our fees page under the heading Currency conversion fees.
Currency conversion choices
When your payment is funded by a debit or credit card and involves a currency conversion by PayPal, you consent to and authorize us to convert the currency in place of your debit or credit card issuer. You may have the right to have your card issuer perform the currency conversion, if applicable for that card issuer and network. This currency preference selection may be presented to you in various forms, including setting the currency of your card, 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. If your card issuer converts the currency, your card issuer will determine the currency conversion rate and the fees they may charge.
PayPal will always perform the conversion for transactions where you use your existing PayPal balance or your linked bank account is the payment method.
Account Statements
Account Statements
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.
Sending payments to or Receiving payments from a Friend or Family Member
