Everyone has probably received this, but for those who have
not yet joined Paypal - here are the new changes in effect from July 9th 2008:
Effective from 9 July 2008, PayPal will change its fee structure to make it more attractive for our UK customers to send personal payments. We are pleased to announce that:
- PayPal will not charge a recipient (regardless of their account type) of a PayPal payment if that payment was funded by the sender's bank account or PayPal balance and it is designated a Personal Payment
- PayPal will apply a fee for payments received for Personal Payments or Commercial Payments if such a payment is funded by a credit or debit card, however for Personal Payments funded by a card, the sender will have the option of paying the fees for that payment
- Also, PayPal will no longer require its customers to upgrade from a Personal Account to a Premier or Business Account once it has received a total of £250
Consequently the following amendments to the PayPal User Agreement will be applicable for UK customers:
Clause 8 will be amended (where relevant) to provide that:
- Receiving Personal Payments which are also Balance/Bank Funded Payments will be free
- Receiving Personal Payments and/or Commercial Payments which are also Card Funded Payments will be charged at these standard rates:
3.4% + Fixed FeeFor each domestic payment transaction.3.9% + Fixed FeeFor each cross border payment transaction
Merchant Rates
(based on monthly transaction volume & one-off application)1.4% - 2.9% + Fixed FeeFor each domestic payment transaction1.9% - 3.9% + Fixed FeeFor each cross border payment transaction
The monthly volume tiers applicable to these Merchant rates are further described in the Fees section accessible from every page of the PayPal Website.
The Fixed Fee will be (depending on the payment currency):
£0.20GBP ¥40.0JPY 1.35PLN€0.35EUR $0.40AUD 90.0 HUF$0.30USD 0.55CHF 10.00CZK$0.30CAD 2.80NOK $0.50SGD$4.00MXN 3.25SEK $2.35HKD1.20ILS 2.60DKK $0.45NZDUK registered Users who receive payments in Euros from other European User countries will receive a 0.5% reduction in the variable amount of the applicable cross border fee.
- The sender of a Personal Payment which is also a Card Funded Payment may choose to pay the Fee applicable to that payment.
Clause 15 will include the following new definitions:
"
Commercial Payment" means a payment which is not a Personal Payment (including, without limitation a payment associated with an eBay item and/or other goods or services).
"
Personal Payment" means a payment made for the purpose of either your personal, family and/or household affairs.
Clauses 4.1, 4.2, 4.4(c), 4.9 will no longer apply to UK customers.
Looks a bit daunting, but still - just thought i'd contribute lol!
Steve