User Agreement for PayPal Service
User Agreement for PayPal Service
Last Update: 21 October, 2019
This Agreement contains eleven sections. You may jump directly to any section by selecting the appropriate link below. The headings and subheadings below are for reference only and do not limit the scope of each section. Some capitalized terms have specific definitions in Section 11. Underlined words in this Agreement and on our website hyperlink to relevant information.
Jump to section:
1. Our Relationship with You
2. Your Account and Balances
3. Sending Money
4. Closing Your Account
5. Fees and Currency Conversion
6. Restricted Activities
7. Your Liability – Actions We May Take
8. Errors and Unauthorised Transactions
9. PayPal Buyer Protection
10 Disputes with PayPal
Schedule 1. Table of Fees
The above mentioned documents are “Ancillary Documents” for the purpose of this Agreement. For the avoidance of doubt, neither the Ancillary Documents nor the parts of this Agreement that incorporate the terms of the Ancillary Documents constitute “framework contracts” for the purpose of the EU Payment Services Directive (2007/64/EC), the Second EU Payment Services Directive (EU)2015/2366) (“PSD2”) or any implementation of those directives in member states of the EU or EEA.
Entering into this Agreement
By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement (including the Policies Updates referred to above).
All future Changes set out in the Policy Update already published on the “Legal Agreements” landing page of the PayPal website at the time you register for the Services are incorporated by reference into this Agreement and will take effect as specified in that Policy Update.
This Agreement, together with other legal terms and legally required disclosures relating to your use of the PayPal Service will be provided to you, at all times on the PayPal website(s) (typically located on the “Legal Agreements” landing page). This information may also be sent to you or appear in places on the PayPal website(s) or otherwise where relevant to your use of the Services
We recommend that you store or print-off a copy of the Agreement (including all policies) for your records.
PayPal may require you to have a PayPal Account to use the Services (including, without limitation, to send or receive payments or to use PayPal as a means of logging into third party services).
IMPORTANT INFORMATION – KEY RISKS AND TERMS
This is an important document which you must consider carefully when choosing whether to use the Services at any time. This Agreement also highlights certain risks on using the Services together with guidance on how to safely carry out online payments via PayPal. You must consider such risks and guidance when using PayPal.
You are solely responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with your use of the Services.
Please note the following risks and key terms applicable to your use of the PayPal service:
- We may close, suspend, or limit your access to your Account or our Services, and/or limit access to your funds for up to 180 days if you carry out any Restricted Activities (as further set out in clause 6).
- If you wish to open a Dispute through PayPal’s Resolution Centre you must do so within 180 days of making your payment.
For more information about the PayPal service, please read our Key Payment and Service Information.
1.1 PayPal is only a Payment Service Provider.
PayPal is duly licenced as a Luxembourg credit institution in the sense of Article 2 of the law of 5 April 1993 on the financial sector as amended (the "Law") and is under the prudential supervision of the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier, with registered office in L-2449 Luxembourg.
PayPal's main business is the issuance of E-money and the provision of services closely related to the issuance of E-money. Since the service is limited to E-money, which does not qualify as a deposit an investment under Luxembourg law, you are not protected by the Luxembourg deposit guarantee or investment indemnity schemes administered by the Conseil de protection des déposants et des investisseurs. As the Services are on a send only basis, you may not maintain a balance in your Account. PayPal enables you to make payments to third parties. PayPal is an independent contractor for all purposes. PayPal does not have control of nor, assumes the liability or legality for the products or services that are paid for with our Service. We do not guarantee the identity of any User or ensure that a buyer or a seller will complete a transaction. Please note that there are risks of dealing with underage persons or people acting under false pretence
1.3 Assignment. You may not transfer or assign any rights or obligations you have under this Agreement without PayPal's prior written consent. You are not permitted to transfer your Account to a third party. PayPal reserves the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time without your consent. This does not affect your rights to close your Account under clause 4.
1.4 Communicating with You.
1.4.1 Languages. This Agreement is concluded in English only. We will communicate with you in English only.
1.4.2 Notices to You. You agree that PayPal may provide notice to you by posting it on the PayPal Website(s), emailing it to the email address listed in your Account, or mailing it to the street address listed in your Account. With the exception of amendments to this Agreement, such notice shall be considered to be received by you within 24 hours of the time it is posted to the PayPal Website(s) or email to you. If the notice is sent by mail, we will consider it to have been received by you three Business Days after it is sent. You may request a paper copy of any legally required disclosures and you may terminate your consent to receive required disclosures through electronic communications by contacting PayPal as described in section 1.7 below. PayPal may charge you a Records Request Fee (per Schedule 1) to provide a paper copy. PayPal reserves the right to close your Account (pursuant to Section 4) if you withdraw your consent to receive legally required disclosures through electronic communications.
1.5 Notices to PayPal. Notices to PayPal made in connection with this Agreement must be sent by postal mail to: PayPal (Europe) S.à r.l. et Cie, S.C.A. Attention: Legal Department 5th Floor 22-24 Boulevard Royal L-2449, Luxembourg.
1.6 Amendments to this Agreement. We may at any time amend, delete or add to this Agreement, including the Fees and other amounts which apply to your Account (as set out in Schedule 1) (a “Change”) by giving notice of such Change by posting a revised version of this Agreement on the PayPal website(s). A Change will be made unilaterally by us and you will be deemed to have accepted the Change after you have received notice of it. We will give you 2 months' notice of any Change with the Change taking effect once the 2 month notice period has passed, except the 2 month notice period will not apply where a Change is required by law or relates to the addition of a new service, extra functionality to the existing Service or any other change which neither reduces your rights nor increases your responsibilities. In such instances, the Change will be made without prior notice to you and shall be effective immediately.
If you do not accept any Change, you must close your Account following the account closure procedure set out in section 4 (Closing Your Account). If you do not object to a Change by closing your Account within the 2 month notice period, you will be deemed to have accepted it. While you may close your Account at any time and without charge, please note that you may still be liable to us after you terminate this Agreement for any liabilities you may have incurred and are responsible for prior to terminating this Agreement and please further note our rights under section 4 (Closing Your Account).
1.7 Eligibility. To be eligible for our Services, you must be at least 18 years old and a resident of one of the countries listed on the PayPal Worldwide page. You further represent and warrant in opening an Account with us that you are not acting on behalf of or for the benefit of, anyone else, unless you are opening the Account for and under the direction of the company that employs you an undisclosed principal or a third party beneficiary. If you are not acting for the company that employs you, the new Account must be in your own name. This Agreement applies only to Users who are residents of the "send only" regions (these regions are further specified on the PayPal Website(s). If you are a resident of another country, you may access your agreement from the PayPal Website(s) in your country (if applicable).
2.1 Personal and Business Accounts. We offer the following types of Accounts: Personal and Business Accounts. Unless otherwise agreed, you may hold not more than one Personal Account and one Business Account. Holders of certain Personal Accounts may be required to upgrade their accounts (which may include providing further information to PayPal) in order to use all of the current functionality available in a Personal Account. By opening a Business Account and accepting the terms as outlined in this Agreement, you attest that you are not establishing the Account primarily for personal, family, or household purposes.
2.2 Balance. The Balance in your Account represents the amount of E-money available for paying out from your Account, subject to the terms of this Agreement. If you hold a Balance you will not receive interest or any other earnings on the Balance because European law forbids paying interest on E-Money, as it is a cash-equivalent and not a deposit.
You are not required to keep a Balance at all times, but if you use the Service to pay another User you need to have sufficient Balance in your Account to cover the amount of the payment (and transaction fees payable to us).
This is because, when you pay another User, you are authorising us to transfer E-money from your Balance to the Account of the recipient, in each case according to your Payment Order and subject to the terms of this Agreement.
To get a Balance on your Account you can, subject further to this Agreement:
- obtain E-money from us by paying us an equivalent amount. You can do this:
- automatically using your applicable Funding Source(s) to cover payments that you instruct us to send to other Users (and the transaction fees payable by you to us). The execution of the payment from your bank or card issuer to PayPal is your bank’s/card issuer’s responsibility; or
- manually using the Add Funds function available from your Account interface to pay us or instructing us to pull a payment from your applicable Funding Source under the authority you give us when linking your applicable Funding Source .
2.3 Account information (including Balance and transaction information) Unless your Account is restricted, you may access your details of executed payment transactions and other information relating to your Account transaction history and Balance by logging into your Account. Key information relating to your payments will be provided to you via e-mail and your transaction history will also be updated and made available to you at any time by logging into your Account. You will also be able to access a downloadable report via the “History” section of your Account. The “History” section will also show all Fees incurred and any other amounts charged to your Account in the relevant period. The “History” will only be updated and made available if there has been any activity on your Account or any Fees have been incurred in the relevant period. PayPal reserves the right to charge a Fee for providing you with additional information or for providing the transaction history and other information about Fees in a different way. The way in which we provide the transaction information will allow you to store and reproduce the information unchanged, for example by printing a copy. PayPal will ensure that the details of each transaction will be made available for you to view online for at least 13 months from when it is first made available. You agree to review your transactions through your Account History instead of receiving periodic statements by mail.
2.4 Set-off. You agree that we may set-off any of the amounts held in Accounts held or controlled by you with any fees, charges or other amounts you owe us and (unless prevented by insolvency law) any such amounts you owe other members of the PayPal Group (including, without limitation, in respect of any services provided by any member of the PayPal Group). In simple terms, our right to set-off means that we may deduct such fees, charges or other amounts mentioned in this section from an Account Balance held or controlled by you.
2.5 Amounts you owe us. Where the aggregate amount you owe us exceeds the amount held in your Balance we may show your Balance in negative figures as a reflection of the net amount you owe to us.
2.6 Balances in Multiple Currencies. If you hold a Balance, we may allow you to convert it to Balance in another currency. You will be charged a Currency Conversion Fee as set out in A3.2 of Schedule 1 for the conversion (pursuant to section 5.2).
If one of the currency Balances in your Account shows that you owe us an amount of funds for any reason, we may set-off the amount you owe us by using funds you maintain in a different currency Balance or by deducting amounts you owe us from money you receive into your Account, or money you attempt to withdraw or send from your Account, or in a different Account, and by deducting funds from any withdrawals you attempt to make. If, for a period of 21 Days, you have a Balance that reflects an amount owing to us that is not in Euros, PayPal will convert the amount you owe us to Euros.
You will be charged a Currency Conversion Fee as set out in A3.2 of Schedule 1 for the conversion of the amount you owe us into Euros.
You are responsible for all risks associated with maintaining Balances in multiple currencies (including, without limitation, the risk that the value of these Balances will fluctuate as exchange rates change, which over time may result in a significant decrease in the value of the Balances). You agree that you will not attempt to use multiple currencies for speculative trading.
2.7 Security Interest. To secure your performance of this Agreement, you grant to PayPal a legal claim against the funds in your Account as security for any amount you may owe to us. This is known in legal terms as a “lien” on and “security interest” in your Account.
2.8 Verified status.
- To obtain verified status you must complete the following steps: add a credit card and complete the Expanded Use Program.
- PayPal may, from time to time, make available to you other methods or procedures for you to obtain “Verified” status. By highlighting a user as “Verified”, PayPal is only representing that the Verified user has completed the steps set out in section 2.3(a). Further to section 1.1 and by attributing verified status to a user, PayPal is not guaranteeing, undertaking nor otherwise representing that a verified user will complete a commercial transaction.
2.9 PayPal as Login Method. If you use PayPal as means of logging into external websites or mobile apps, we may share your login status with any third party offering this Service as a login method, as well as the personal and other Account information that you consent to being shared so that the third party can recognise you. PayPal will not give such third party access to your PayPal Account and will only make payments from your Account to that third party with your specific authorisation.
If you offer this Service as a means for visitors to log into your website, app, or otherwise for your customer accounts, you must agree to any specific terms applicable when this functionality is made available to you, and comply with any specifications in any integration manual or guideline. PayPal does not guarantee or otherwise represent the identity of any user of this login method. PayPal will not share with you the personal and other Account information of the user (including login status) held by PayPal unless the user has consented to our disclosure of that information to you.
2.10 How to Withdraw/Redeem E-money. We may allow you to withdraw funds by transferring the money to your branded MasterCard or Visa card, if you are a registered user in our Credit Card Withdrawal Region and provided that this functionality is allowed by your credit card issuer.
Fees will be disclosed to you in advance each time you initiate such a withdrawal.
This means that:
a. If you withdraw a balance held in a currency other than the original opening currency of your Account, you will be charged a Currency Conversion Fee as set out in section A3.2 of Schedule 1 to convert it to your original opening currency balance (pursuant to section 5.2).
b. If you withdraw to a bank account or card held in a currency other than the original opening currency of your Account, you will be charged a Currency Conversion Fee as set out in section A3.2 of Schedule 1 for the conversion of the withdrawn currency amount into currency of your bank account or card (pursuant to section 5.2).
See also section 2.4 if your Account holds Balances in multiple currencies.
3.1 Sending Limits. If you have a periodic sending limit on your Account, you can view it by logging into your Account and clicking on the “View your account limits” link on the “Account Overview” page. We may, at our reasonable discretion (for example, without limitation, to limit fraud or credit risk), impose limits on the amount of money you can send through our Service.
3.2 Lifting your sending limit. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your Account Overview).
3.3 Default Funding Sources. When you make a payment you authorise us to obtain funds on your behalf from your applicable Funding Source, to issue E-money and to transfer the E-money to the recipient or to your Balance in each case according to your instructions and subject to the terms of this Agreement. Please keep your Funding Source information current (i.e. credit card number and expiration date). If this information changes, we may update it at our sole discretion without any action on your part, according to information provided by your bank or card issuer and third parties (including but not limited to our financial services partners and the card networks). If you do not want us to update your Funding Source information, you may contact your bank or card issuer to request this or remove the Funding Source in your Account Profile. If we update your Funding Source information, we may retain any preference setting attached to it. We may allow you to choose a Preferred Funding Source for certain future Payment Orders in your account preferences on www.paypal.com from time to time. There may be times when your Preferred Funding Source cannot be used, depending on the nature of the Funding Source, the type of Payment Order it is used to fund or the recipient (see also section 3.5). For example (on a non-exhaustive basis):
- you select a credit card that has expired;
- a Special Funding Arrangement is available to cover the Payment Order instead, in which case PayPal may use the Specific Funding Arrangement to obtain E-money to cover your Payment Order before using your Preferred Funding Source; or
- you have a pre-existing Balance available to cover the Payment Order instead, in which case PayPal may use your pre-existing Balance (after any available Special Funding Arrangement) for the E-money to cover your Payment Order before using your Preferred Funding Source.
PayPal may disapply section 3.3.c. and use your Preferred Funding Source to obtain E-money to cover certain Payment Orders even if you have pre-existing Balance, subject further to this Agreement.
3.4 No Preferred Funding Source selected/available? If you have not selected a Preferred Funding Source or if your Preferred Funding Source is unavailable, PayPal will obtain E-money in your Balance to cover your Payment Order from the following sources in the following order to the extent available:
|1.||Special Funding Arrangements (if available)|
|3.||Default Funding Source|
3.5 Funding Source Limitations. In order to manage risk, PayPal may limit the Funding Sources available for a transaction. If we limit a Funding Source, we will alert you that there is a higher than normal level of risk associated with the payment (for example and without limitation, a risk that the payment may be challenged to be unauthorised). Such a notice does not mean that either party to the transaction is acting in a dishonest or fraudulent manner. It means there may be a higher than normal level of risk associated with the payment. Funding Sources may be limited also if you make a PayPal payment through certain third party websites or applications. If your Funding Sources are limited, you may choose to continue with the transaction with the understanding that you may have fewer avenues available for dispute resolution should the transaction turn out to be unsatisfactory (for instance, if one of your Funding Sources is your credit card but, as a result of a limitation of Funding Sources, you cannot fund your PayPal payment by credit card, you will not have chargeback rights for the PayPal payment).
3.6 Refused Transactions and Refunds sent by the recipient.
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 original 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 from 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. See section 8.2 for more information about how we set the transaction exchange rate. Note that, for the purpose of this particular return conversion:
You agree to bear the currency conversion fee set out at section A3.2 for any currency conversion carried out for you on any amount returned to you in the ways outlined above. The transaction exchange rate includes the currency conversion fee. The transaction exchange rate may be applied immediately and without notice to you. See section 5.2 for more information about the transaction exchange rate.
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.
We may decide to not charge your original Funding Source for the original payment in the first place if the the amount is returned to your Balance as outlined above before the payment from your original Funding Source to PayPal to fund your original payment has settled.
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.
3.7 Merchant Processing Delay.
When you pay certain merchants (for instance, some merchants selling on online platforms) or pay for certain purchases (for instance, purchases which have to be shipped to you or may be further amended by the merchant), you are providing:
- an Authorisation to the merchant to collect your payment at a later time; and
- an instruction to PayPal to pay that merchant when the merchant requests payment. Your Authorisation will remain valid typically for up to 30 Days. If you have a positive Balance at the time you made your Authorisation, you agree that PayPal may hold the payment amount as pending in your Reserve Account until the merchant collects your payment. If your payment requires a currency conversion by us, the final exchange rate (which includes a Currency Conversion Fee) will be determined and applied (in accordance with section 8.2) at the time the merchant processes your payment and completes the transaction.
Your Authorisation allows the merchant to amend the payment amount before the merchant collects the payment (to account for any amendments to the purchase that you may agree with the merchant, such as additional tax, shipping or postage charges or discounts). PayPal may set a maximum amount for the payment to be made to the merchant in certain circumstances, which may be shown to you on the payment authorisation page. PayPal is not required to verify any amendments at any time (including at the time the payment is transferred). PayPal may transfer any amount on the basis of your Authorisation and upon receiving instructions from the merchant of the final payment amount (subject to any maximum amount set and communicated by PayPal for the given payment.
3.8 Pre-approved Payments (also known as Automatic Payments).
By providing an advance Authorisation, for Pre-approved Payments, you:
- give the third party the ability to collect or reverse fixed or variable amount payments from your Account on a one-time basis, or on a (sporadically or periodically) recurring basis (as further specified in the applicable billing agreement – the document that you agree to when giving the Authorisation) until you cancel your Authorisation or underlying arrangement with the applicable third party; and
- hereby authorise and instruct PayPal to pay the third party (or another person they direct) from your PayPal Account amounts you owe as presented to us by the third party. This makes the recipient a trusted beneficiary of all your payments made under that Authorisation, so we will not ask you to log in or approve the payments when they are made. You agree that PayPal is not obligated to verify or confirm the amount the third party presents to us for the purpose of processing this type of payment. You further acknowledge and agree that payments made under this provision are variable and may be made on various dates.
If your Pre-approved Payment requires a currency conversion by us, the amount of the Currency Conversion Fee (per Schedule 1) will be determined at the time the applicable third party processes your payment and completes the transaction. You acknowledge that the exchange rate determined at the time of each payment transaction will differ and you agree to the future execution of Pre-approved Payments being based on fluctuating exchange rates.
Prospective Payment Recipients acting under the above Authorisations who present us with a payment request under this provision hereby:
- warrant to PayPal that the amounts they present have been agreed and consented to by the User whose Account will be deducted (including changes to those amounts) and that they will give prior notice of the deduction to the payer;
- agree that they will notify the payer at least 4 weeks in advance of the amount they will collect if that amount has increased in such a manner that the payer could not have reasonably expected to pay such an amount, taking into account the payer’s previous spending patterns and the circumstances of the payment and that they will be liable to PayPal for any refunds of such payment, in accordance with the terms of this User Agreement.
You agree that you cannot request a refund from PayPal for a Pre-approved Payment unless:
- the Authorisation did not specify the exact amount of the payment transaction when the Authorisation was given and the applicable amount exceeded the amount you could have reasonably been expected to pay, taking into account your previous spending patterns and the circumstances of the case; and
- your valid consent to the making of the third party initiated payment was not given; or
- the information relating to the third party initiated payment was not provided or made available to you for at least 4 weeks before the date the payment transaction was made to the merchant
- you notify us of the request within 8 weeks from the date the payment was made; and
- you comply with our requests to obtain information which we reasonably require to review the circumstances of the case. We reserve the right to request further information as is reasonably necessary to ascertain whether the above conditions have been satisfied and to waive any or all of the above conditions
3.9 Cancelling Pre-approved Payments. You may cancel a Pre-approved Payment at any time up to 1 Business Day prior to the date the payment is scheduled to be made. You may cancel a Recurring Payment by logging in to your Account, accessing the “Settings” tab, then in the “Payments” section, clicking on “Pre-approved Payments ” and follow the instructions to cancel the payment. In addition, if you cancel a Pre-approved Payment you may still be liable to the merchant for the payment and be required to pay the merchant through alternative means.
3.10 Sending E-money in different currencies. You may Send Money in U.S. Dollars, Canadian Dollars, Euros, Pounds Sterling, Yen, Australian Dollars, Brazilian Real, Czech Koruna, Danish Krone, Hong Kong Dollar, Hungarian Forint, Israeli New Shekels, Mexican Peso, New Zealand Dollar, Norwegian Krone, Philippine Peso, Polish Zloty, Singapore Dollar, Swedish Krona, Swiss Franc Thai Baht and Taiwan New Dollar. There may be some restrictions with regard to where you can send certain currencies. When you send money for someone to receive in a currency that is different than the primary currency of your Account, we follow these practices:
- If you have an existing Balance in the receiving currency, we will send your payment from your Balance.
- If you have a Balance in a currency different than the receiving currency, we will perform a currency conversion (pursuant to section 8.2) and use the converted Balance to send your payment.
- If you do not have any Balance, we will automatically obtain Balance in the primary currency of your Account from the relevant Funding Source pursuant to section 3 to cover your Payment Order (and any Fees you owe us). When you pay us, your Funding Source provider may apply (and may charge you for) any required currency conversion. We will then perform a currency conversion (pursuant to section 8.2) from your primary currency and send your payment (and collect Fees that are payable in the currency in which the payment is received by the recipient) from the converted Balance.
This Agreement starts when you successfully register for a PayPal account and ends when your Account is closed for whatever reason, except that this Agreement survives termination to the extent and for so long as we require to deal with the closure of your Account and to comply with applicable laws and regulations
You can close your Account at any time by logging into your Account, clicking on the “Profile” tab, clicking on the “Close Account” link, and then following the instructions. See the PayPal Help Centre for more details.
We may close your Account at our convenience by providing you with two months’ prior notice. We may also close your Account at any time where:
- you are in breach of the terms of this Agreement and/or we are entitled to close your Account under section 7.2;
- you do not access your Account for three years; or
- we suspect that your Account has been accessed without your authorisation.
Where we decide to close your Account we will provide you with notice of Account closure and where practicable, the reasons for closing your Account, together with the ability to withdraw any undisputed funds that we are holding.
When your Account is closed:
- we may cancel any pending transactions
- we may suspend, limit or terminate your access to or use of our Services, websites, software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf or some or all of the Services;
- you will remain liable for all outstanding obligations under this Agreement related to your Account prior to closure;
- we may keep your Account information in our database for the purpose of fulfilling our legal obligations; and
- we may retain your Balance after closure to the extent and for the time we reasonably require to protect PayPal and/or any third party against the risk of Reversals, Chargebacks, Claims, fees, fines, penalties and other liabilities of whatever nature. After this time you will be able to withdraw any undisputed funds that we are holding. Please contact PayPal Customer Service if you have any questions about funds held in your Account on closure.
If you are the legal representative of an incapacitated or deceased Account holder, please contact us at the PayPal Help Centre for assistance.
5.1 Fees. Fees for Users resident in the send only regions are as set out in Schedule 1.
A "Domestic Payment" is a transaction where both the sender and receiver execute a payment between PayPal Accounts registered in the same country or region.
A "Cross Border Payment" occurs when the sender and receiver execute a payment between PayPal Accounts which are not registered in the same country or region.
5.2 Currency Conversion. Where a currency conversion is required, 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 set: on the basis of rates within the wholesale currency markets; or, if required by law or regulation, at the relevant government reference rate(s); in each case on the conversion date or the prior business day.
The transaction exchange rate applicable to your conversion may be applied immediately and without notice to you.
The “Currency Converter” tool can be accessed through your Account and used to see what transaction exchange rates apply for certain currency exchanges at the time you use the tool.
Where a currency conversion is offered by PayPal to you when you make your transaction (e.g. at the point of sale), you will be shown the transaction exchange rate that will be applied to the transaction before you proceed with authorising the payment transaction. By proceeding with your authorisation of the payment transaction you are agreeing to the currency conversion on the basis of the transaction exchange rate shown.
5.3 Currency Conversion Choices. Where your payment is funded by a Debit or Credit Card and involves a currency conversion by PayPal, by entering into this Agreement you consent to and authorise PayPal to convert the currency in place of your Credit or Debit card issuer.
Depending on the country you reside in and the type of Funding Source used for your payment, you may opt out of a currency conversion by PayPal before you complete your payment during checkout, in which case PayPal has no liability to you for your use of other currency conversion options.
Where a currency conversion is offered at the point of sale by the merchant, not by PayPal, and you choose to authorise the payment transaction on the basis of the merchant's exchange rate and charges, PayPal has no liability to you for that currency conversion.
If you receive a payment in a currency other than the primary currency of your Account from anyone who doesn’t have a PayPal Account, the payment amount will be converted into the primary currency of your Account by PayPal for you at the time the payment is made, in accordance with this section 5.2 (except where otherwise agreed by PayPal) and you agree to bear the Currency Conversion Fee at section A3.2.1 of Schedule 1 of this Agreement (which is included in the transaction exchange rate you pay), before any other transaction fees apply.
6.1 Restricted Activities. In connection with your use of our website, your Account, or the Services, or in the course of your interactions with PayPal, a User or a third party, you will not:
- Breach this Agreement (including, without limitation, opening multiple PayPal accounts), the Card Processing Agreement, the Acceptable Use Policy or any other agreement that you have entered into with PayPal (including a Policy);
- Breach any law, statute, contract, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);
- Infringe PayPal's or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
- Act in a manner that is obscene, defamatory, libelous, unlawfully threatening or unlawfully harassing;
- Provide false, inaccurate or misleading Information;
- Fail to provide us with further information about you or your business activities that we may reasonably request;
- Send what we reasonably believe to be potentially fraudulent or unauthorised funds;
- Refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us;
- Attempt to "double dip" or undertake any action which could amount to unjust enrichment during the course of a dispute by receiving or attempting to receive funds from both PayPal and the seller, bank, or credit card company for the same transaction;
- Use an anonymizing proxy, whether electronically, physically (e.g. using a P.O. box as your address) or otherwise;
- Control an Account that is linked to another Account that has engaged in any of these Restricted Activities (an Account is deemed to be “linked” to another Account for the purpose of this section 9.1.k where PayPal has reason to believe that both Accounts are controlled by the same legal personality or group of legal personalities (including, without limitation, individuals), which is more likely when both Accounts share certain attributes, including, without limitation, the same recorded user name, email address, funding source (e.g. bank account) and/or recorded ID used to receive services from PayPal’s partners (such as an eBay ID));
- Conduct your business or use the Services in a manner that results in or may result in complaints, Disputes, Claims fees, fines, penalties and other liability to PayPal, a User, a third party or you;
- Abuse (as either a buyer or seller) of our Online Dispute Resolution process and/or PayPal Buyer Protection;
- Cause PayPal to receive a disproportionate number of Claims that have been closed in favour of the claimant regarding your Account or business;
- Have a credit score from a credit reporting agency that indicates a high level of risk associated with your use of the Services;
- Use your Account or the Services in a manner that PayPal, Visa, MasterCard, American Express or our bank acquirer and/or payment processors reasonably believe to be an abuse of the credit card system or a violation of credit card association rules;
- Allow your Account to have a balance reflecting an amount owing to us;
- Use a credit card with your Account to provide yourself with a cash advance (or help others to do so);
- Access the Services from a country that is not included on PayPal's WorldWide page;
- Disclose or distribute another User's Information to a third party, or use the Information for marketing purposes unless you receive the User's express consent to do so;
- Send unsolicited email to a User or use the Services to collect payments for sending, or assisting in sending, unsolicited email to third parties;
- Take any action that imposes an unreasonable or disproportionately large load on the Services our infrastructure, our websites, our software or our systems (including any networks and servers used to provide any of the Services) whether operated by us or on our behalf;
- Facilitate any viruses, Trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data or Information or the Services;
- Use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission;
- Use any device, software or routine to bypass our robot exclusion headers, or interfere or disrupt or attempt to interfere with or disrupt our website, software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf, any of the Services or other Users’ use of any of the Services;
- Copy, reproduce, communicate to any third party, alter, modify, create derivative works, publicly display or frame any content from the Web Site(s) without our or any applicable third party's written consent;
- Take any action that may cause us to lose any of the services from our internet service providers, payment processors, or other suppliers or service providers;
- Use the Service to test credit card behaviors;
- Reveal your Account password(s) to anyone else, nor may you use anyone else's password. We are not responsible for losses incurred by you including, without limitation, the use of your Account by any person other than you, arising as the result of misuse of passwords; or
- Do, or omit to do, or attempt to do or omit to do, any other act or thing which may interfere with the proper operation of the Service or activities carried out as part of the Services or otherwise than in accordance with the terms of this Agreement;
- Allow your use of the Service to present to PayPal a risk of non-compliance with PayPal’s anti-money laundering, counter terrorist financing and similar regulatory obligations (including, without limitation, where we cannot verify your identity or you fail to complete the steps to lift your sending limiting accordance with section 3.2) or where you expose PayPal to the risk of any regulatory fines by European, US or other authorities for processing your transactions);
- Integrate or use any of the Services without fully complying with all mandatory requirements communicated to you by way of any integration or programmers’ guide or other documentation issued by PayPal from time to time; or
- Suffer (or cause us to determine that there is a reasonable likelihood of) a security breach of your website or systems that could result in the unauthorised disclosure of customer information.
Please see our Key Payment and Service Information document for more information about the secure use of the Services.
6.2 Restricted Activities and Permissions. Nothing in this section 6 prevents you from permitting third parties to take certain actions on your behalf as outlined in section 10.8 in compliance with the conditions of their licence and applicable law.
7.1 Your Liability. You are responsible for all Claims, fees, fines, penalties and other liability incurred by PayPal, a PayPal User, or a third party caused by your use of the Services and/or arising out of your breach of this Agreement. You agree to reimburse PayPal, a User, or a third party for any and all such liability.
7.2 Actions by PayPal. If we have reason to believe that you have engaged in any Restricted Activities, we may take various actions to protect PayPal, a User, a third party, or you from Claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:
- We may close, suspend, or limit your access to your Account or the Services (such as limiting access to any of your Funding Sources, and your ability to send money, or remove financial Information);
- We may reverse a payment (including, if appropriate, to the sender’s Funding Source), that violates our Acceptable Use Policy or section 6, or which we reasonably suspect of violating our Acceptable Use Policy or section 6;
- We may request information from you or otherwise update inaccurate Information you provided us;
- We may refuse to provide our Services to you in the future; and
- We may take legal action against you.
7.3 Limited Access. If we suspect that your Account has been accessed without your authorisation, we may suspend, or limit, your access to your Account or the Services (such as limiting access to any of your Funding Sources, and your ability to send money or remove financial Information). If we limit access to your Account, we will provide you with notice and opportunity to request restoration of access if appropriate.
7.4 Information about you. PayPal reserves the right to request additional information from you, other than what is referred to in this Agreement, to allow it to comply with its anti-money laundering obligations. You agree to comply with any request for further information as we reasonably require to enable us to comply with our anti-money laundering obligations. This may include, without limitation, requiring you to fax, email or otherwise provide to us certain identification documents. You also agree to provide us, upon our reasonable request and at your own expense, information about your finance and operations, including, without limitation, your most recent financial statements (certified or otherwise) and merchant processing statements (if applicable).
7.5 Disclosure of reasons for our actions
Our decisions to take the actions set out in this section and any other actions we take under this Agreement, whether they restrict or extend your access to the Service, our infrastructure, our websites, our software or our systems (including any networks and servers used to provide any of the Services) whether operated by us or on our behalf (including, without limitation, any blockages, limitations, suspensions, terminations, holds and reserves) may be based on confidential criteria that are essential to our management of risk and the protection of PayPal, our customers and/or service providers. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures or our confidential information to you.
8.1 Identifying Errors and/or Unauthorised Transactions. You can inspect your transaction history at any time by logging in to your Account on the PayPal website and clicking the "History" tab. It is very important that you immediately notify PayPal if you have reason to believe any of the following activities have occurred: (i) there has been an unauthorised transaction sent from your Account; (ii) there has been an unauthorised access to your Account; (iii) your password has been compromised;, or (iv) someone has transferred or may have transferred money from your Account without your permission (this includes where you link your Account with a third party platform (including a site or app), to make payments directly from that platform, but a payment was made from your Account for a transaction via that platform that you did not make) (collectively called " Improper Account Access "). In order for you to notify PayPal immediately of any of the above events, you commit to monitor your E-money account closely on a regular basis. We will not seek to hold you liable for any unauthorised use of your Account by any person provided that we are satisfied that you have not acted deliberately so as to enable any third person to gain access to your PayPal ID and/or password/PIN. We will hold you liable for unauthorised use of your Account if we do have evidence that you acted deliberately so as to enable any third person to gain access to your PayPal ID and/or password/PIN.
8.2 Notifying PayPal of Errors and/or Unauthorised Transactions. To notify us if you believe there has been or will be an error or unauthorised transaction on your Account, telephone PayPal Customer Service at the telephone number shown on the PayPal WebSite(s) or, contact us using this report form or write to PayPal, Attn: Error Resolution Department 22-24 Boulevard Royal L-2449, Luxembourg. If you initially provide information to us via the telephone, we may require that you send your complaint or question in writing within 10 Business Days after the phone contact. Please complete the affidavit form and submit it online or mail it to PayPal, Attn: Error Resolution Department 22-24 Boulevard Royal L-2449, Luxembourg.
8.3 Review of Reports of Errors and/or Unauthorised Transactions. Without prejudice to your statutory rights, we will advise you of the results of our investigation within 20 Business Days after we receive your notice. If we have made an error, we will correct it promptly. If we need more time, however, we may take up to 60 Days to investigate your complaint or question. If we decide that we need more time, we will provisionally re-credit your Account for the amount you think is in error within 10 Business Days after we receive your notice; so that you will have use of the E-money during the time it takes us to complete our investigation. If you initially provided information to us via the telephone and we do not receive your complaint or question in writing within 10 Business Days after your oral notice, we are not required to provisionally re-credit your Account.
At the end of our investigation, we will advise you of the results within 3 Business Days. If we determine that there was no error, we will send you a written explanation and we may debit any provisional credit that we previously credited to you in relation to the alleged error. You may ask for copies of the documents that we used in our investigation (and this will not attract the Records Request Fee set out in section 8).
8.4 Liability for Unauthorised Transactions. Without prejudice to your statutory rights, if you report and we verify that there has been an Improper Account Access related to your Account, we will reimburse you in full for all unauthorised transactions sent from your Account that occur within 60 Days of the time that you knew or should have known about the Improper Account Access. If you do not report the Improper Account Access to PayPal within 60 Days of the time that you knew or should have known about it, we will still reimburse you in full for all unauthorised transactions sent from your Account that took place within or before that 60-Day period, but you may be liable for all unauthorised transactions resulting from the Improper Account Access that occur on Day 61 and beyond (if we can demonstrate that we could have avoided any losses if you had notified us in a timely manner)
8.5 Errors. If we discover a processing error, we will rectify the error. If the error resulted in you receiving less money than you were entitled to, PayPal will credit your Account for the difference. If the error results in you receiving more money than you were entitled to, PayPal may debit the extra funds from your Account. If a payment was made to your Funding Source by way of mistake, PayPal may correct the mistake by debiting or crediting (as the case may be) your appropriate Funding Source(s). If the error resulted in our not completing a transaction on time or in the correct amount, we will be liable to refund any amount as a result of us carrying a defective or non-executed payment transaction and for your losses or damages directly and reasonably foreseeably caused by this failure, unless:
- through no fault of ours, you did not have enough available funds to complete the transaction,
- our system was not working properly and you knew about the breakdown when you started the transaction, or
- circumstances beyond our control (such as fire or flood or loss of Internet connection) prevented the transaction, despite our reasonable precautions.
Notwithstanding any other term of this Agreement, PayPal will not be held liable for the non-execution or defective execution of a payment transaction if you have failed to notify PayPal about the issue without undue delay after becoming aware of the issue or in any event within 13 months after the debit date of the payment transaction.
9.1 What types of problems are covered?
- PayPal Buyer Protection helps you with either of these problems:
- You did not receive the item you paid for with PayPal – “Item Not Received” (“INR”)
- You received an item you paid for with PayPal but it is “Significantly Not as Described” (“SNAD”). Further information on what we mean by “SNAD” is set out in section 9.8.
- If your problem is a transaction that you did not authorise, please report the unauthorised transaction through the PayPal Security Centre at the bottom of the home page of the PayPal Website.
9.2 What are the eligibility requirements for PayPal Buyer Protection?
You must meet all of these requirements to be eligible for a payment under PayPal Buyer Protection:
- Your payment must be for an eligible item and made from your PayPal Account (see Section 9.3 for further details on item eligibility);
- Send the payment to the seller through:
the Send Money tab on the PayPal website by clicking the “Purchase” tab, or the seller’s PayPal checkout flow; and
- Open a Dispute within 180 days of the date you sent the payment and follow the online dispute resolution process described below under “How do I resolve my problem?” in section 9.5.
9.3 What type of payments are eligible for re-imbursement under PayPal Buyer Protection?
Purchases of most goods and services are eligible (including travel tickets, intangible items such as rights of access to digital content and other licences), except for the following transactions:
- purchases of real estate (including, without limitation, residential property)
- purchases of any interest in a business (including, without limitation, any items or services forming part of a business or corporate acquisition),
- purchases of vehicles (including, without limitation, motor vehicles, motorcycles, caravans, aircraft and boats), except for personally portable light vehicles used for recreational purposes like bicycles and wheeled hoverboards;
- payments on crowd-funding and/or crowd-lending platforms;
- purchases of custom made items (unless they are claimed to be Not Received)
- purchases of items prohibited by the PayPal Acceptable Use Policy
- purchases of industrial machinery used in manufacturing
- purchases of office or factory equipment
- purchases of items equivalent to cash (including, without limitation, , stored value items such as gift cards and pre-paid cards).;
- purchases of goods and services using Zong, Website Payments Pro or Virtual Terminal (if available)
- Personal transactions
- gambling, gaming and/or any activity involving a chance to win a prize;
- payments made in respect of financial products and investments;
- payments to state-run bodies, except for state-owned enterprises (except for state-owned enterprises) or traders acting on mandates received from state-run bodies;
- donations; and
- purchases of items which you collect in person, or arrange to be collected on your behalf (including at a retail point of sale) and which you claim to be Not Received.
- payments made in respect of gold (whether in physical form or in exchange-traded form); and
- PayPal Mass Payment transactions.
PayPal may at its sole discretion automatically close any Dispute or Claim you file which PayPal has reason to suspect is not related to an eligible purchase as outlined above.
9.4 How much coverage do I get with PayPal Buyer Protection?
- If PayPal determines a Claim in your favour, PayPal will reimburse you the full purchase price of the item and original postage costs only.
- PayPal will not reimburse you for the postage costs you incur to return a SNAD item to the seller or another party PayPal specifies. If the seller presents evidence that they delivered the goods to your address, PayPal may find in favour of the seller even if you did not receive the goods. See section 9.10 for other protection you may be entitled to.
9.5 How do I resolve my problem?
If you are unable to resolve a problem directly with the seller, go to the Resolution Centre and follow this process:
- Open a Dispute
Open a Dispute within 180 days of the date you made the payment for the item you would like to dispute.
- Escalate the Dispute to a Claim
If you and the seller are unable to come to an agreement, escalate the Dispute to a Claim within 20 days of opening the Dispute. It is your responsibility to keep track of these deadlines.
You must wait at least 7 days from the date of payment to escalate a Dispute for an Item Not Received (INR), unless otherwise agreed by PayPal. If you do not escalate the Dispute to a Claim within 20 days, PayPal will close the Dispute and you will not be eligible for a payment under the terms of PayPal Buyer Protection. In certain cases, PayPal may permit you to edit or change a Claim after filing only if you wish to add further information or if you wish to change the reason of your Dispute/Claim from “Item Not Received” to “Significantly Not as Described” (but only if it relates to a single payment). Otherwise you may not edit or change a Claim after filing it.
- Respond to PayPal requests for information in a timely manner
During the Claim process, PayPal may require you to provide documentation to support your position. You may be asked to provide receipts, third party evaluations, police reports, or anything else that PayPal specifies.
- Comply with PayPal shipping requests in a timely manner
For Significantly Not as Described (SNAD) Claims, PayPal may require you to post the item back to the seller – or to PayPal - or a third party at your expense and to provide proof of delivery. Proof of delivery is online documentation from a postal company that includes (or where the postal company warrants that they have obtained) all of the following:
- A status of “delivered” (or equivalent) and the date of delivery.
- The recipient’s address, showing at least the city/county or postcode (or international equivalent).
Please take reasonable precautions in re-packing the item to reduce the risk of damage to the item during transit. PayPal may also require you to destroy the item and to provide evidence of its destruction.
9.6 How is the Claim resolved?
Once a Dispute has been escalated to a Claim, PayPal will make a final decision in favour of the buyer or the seller. You may be asked to provide receipts, proof of delivery, third party evaluations, police reports, or any other information or documents reasonably required by PayPal to investigate the Claim.
PayPal may ask the seller to present evidence to PayPal in a timely manner that the seller delivered to/performed for the buyer the purchase as agreed with the buyer, even where the purchase is not eligible for PayPal Buyer Protection under section 13.3.a. If the seller does not present such evidence in a timely manner, PayPal may find in favour of the buyer. If the seller presents such evidence in a timely manner, PayPal may find in favour of the seller even if the buyer claims to have not received the purchase.
PayPal retains full discretion to make a final decision in favour of the buyer or the seller based on any criteria PayPal deems appropriate. In the event that PayPal makes a final decision in favour of the buyer or seller, each party must comply with PayPal’s decision. PayPal may require the buyer to post an item back to the seller that the buyer claims is Significantly Not as Described (at the buyer’s expense), and PayPal may require a seller to accept the item back and refund the buyer the full purchase price plus original postage costs. If a seller refuses to accept the item, PayPal may award the Claim in favour of the buyer, provided the buyer has provided satisfactory evidence to PayPal that the item was sent to the seller. In the event a seller loses a Claim, the seller will not receive a refund on his or her PayPal fees associated with the transaction or any other fees charged from your PayPal account by a third party associated with the transaction (such as the fees charged by a third party platform on which you make your sale).
9.7 Scope of coverage
Payment Recipients: As a Payment Recipient you are liable to PayPal if you lose a Claim from a buyer with a PayPal account registered anywhere in the world (whether under the PayPal Buyer Protection policy of the country of registration of that buyer’s PayPal Account or otherwise). This includes, without limitation, where you sell to a buyer and the buyer files a SNAD Claim, in which case you will generally be required to accept the item back and refund the buyer the full purchase price plus original shipping costs. You will not receive a refund on your PayPal fees.
If you lose a Significantly Not as Described Claim because there is the reasonable suspicion that the return of the item would result in a violation of existing law (for example laws related to counterfeit), you will be required to provide a full refund to the buyer and in certain cases, buyer may be asked by PayPal to return the item to the seller. In the event of having reasonable suspicions of alleged counterfeited item, PayPal reserves the right to notify the relevant national or international Authorities and the buyer may be requested by such Authorities to provide the alleged counterfeited item making the return of the item to seller impossible.
If you sell or market to buyers in other countries, you should read the PayPal Buyer Protection policies of the countries in which your target buyers are based (the relevant PayPal Buyer Protection policies are available (here) and are also accessible via the “Legal” or “Legal Agreements” footer on most PayPal site pages) as these policies will apply to you as a Payment Recipient or seller.
9.8 What if my purchase is not eligible for re-imbursement under PayPal Buyer Protection?
You may also look to resolve a problem directly with the seller by filing a dispute through the PayPal Resolution Centre. To do so, you must file a Dispute in the PayPal Resolution Centre within 180 days of the date you sent the payment. Once you have done so, you should attempt to resolve the Dispute directly with the seller. If your payment is not eligible under PayPal Buyer Protection, PayPal will not make a decision on the Claim.
9.9 What is Significantly Not as Described (SNAD)?
- An item is Significantly Not as Described if it is materially different from what the seller described in the item listing. Here are some non-exhaustive examples:
- You received a completely different item. For instance, you purchased a book and received a DVD or an empty box.
- The condition of the item was misrepresented. For instance, the listing said “new” and the item was used.
- The item was advertised as authentic but is not authentic.
- The item is missing major parts or features that were not disclosed in the listing.
- You purchased 3 items from a seller but received only 2.
- The item was damaged during postage.
- An item is not Significantly Not as Described (SNAD) if it is not materially different from the seller’s description. Here are some non exhaustive examples:
- The defect in the item was correctly described by the seller.
- The item was correctly described but you didn't want it after you received it.
- The item was correctly described but did not meet your expectations.
- The item has minor scratches and was listed as used condition.
9.10 Assumption of rights.
If PayPal pays out a Claim, Reversal or Chargeback that you file against a recipient of your payment, you agree to transfer and allow PayPal to have your rights, benefits and remedies against the recipient of your payment. This is known in legal terms for you to agree to “subrogate” or otherwise “assign” to PayPal your rights against the recipient and third parties related to the payment, and agree that we may pursue those rights, benefits and remedies directly or on your behalf, in PayPal’s discretion.
9.11 Relationship between PayPal Buyer Protection and chargebacks. Credit card chargeback rights, if they apply, may be broader than PayPal Buyer Protection. Chargeback rights are not limited to specific amounts per transaction, may be filed more than 180 days after the payment, and may cover intangible items.
You may pursue a Claim or Dispute with PayPal, or you may contact your credit card company or credit card issuer and pursue your chargeback rights. You may not pursue both at the same time or seek a double recovery. If you have an open Claim or Dispute with PayPal; and subsequently file a chargeback with your credit card company, PayPal will close your Dispute or Claim, and you will have to rely solely on your chargeback rights
If PayPal does not make a final decision on your Claim until after your credit card issuer's deadline for filing a chargeback or after your bank's deadline for filing a dispute, and because of our delay you recover less than the full amount you would have been entitled to recover from the credit card issuer (that is, the chargeback amount which is the amount paid through your credit card in the relevant transaction), we will reimburse you for the remainder of your loss (minus any amount you have already recovered from the seller).
Before contacting your card issuer or filing a Dispute with PayPal, you should contact the seller to resolve your issue in accordance with the seller’s return policy as stated on their website.
9.12 No Double Recovery. You may not receive a recovery, for a purchase under PayPal Buyer Protection for buyers if you additionally receive a recovery for that purchase directly from Payment Recipient or another third party.
9.13 Event tickets
In certain cases, if you purchase a ticket or pay for the right to attend an event from a Payment Recipient who is a UK registered PayPal Account holder (“Event”), all monies paid by you will be held by PayPal on trust for you, so that the beneficial interest in such monies remains with you until the performance of the Event in question.
10.1 Contact PayPal First. If a dispute arises between you and PayPal, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost effective means of resolving the dispute quickly. Disputes between you and PayPal regarding our Services may be reported to Customer Service online via the “Email Us” link on the “Contact Us” page or by calling the customer support telephone number located on the PayPal Website(s).
If you have a complaint to make about us, you may choose to escalate it by contacting one of the following:
- European Consumer Centre (ECC-Net). You may obtain further information regarding the ECC-Net and how to contact them at (https://ec.europa.eu/info/live-work-travel-eu/consumers/resolve-your-consumer-complaint/european-consumer-centres-network_en).
- Commission de Surveillance du Secteur Financier (CSSF). The CSSF is the authority responsible for the prudential supervision of companies in the financial sector in Luxembourg. You can contact the CSSF at 283 Route d’Arlon L-1150 Luxembourg. You may obtain further information regarding the CSSF and how to contact them at: http://www.cssf.lu or by visiting the EU’s Online Dispute Resolution site at https://ec.europa.eu/consumers/odr.
10.2 Governing Law and Jurisdiction. This Agreement and the relationship between us shall be governed by the laws of England and Wales, subject to your local mandatory rights. For complaints that cannot be resolved otherwise, you submit to the non-exclusive jurisdiction of the courts of England and Wales arising out of or relating to this Agreement or the provision of our Services without prejudice to your right to also initiate a proceeding against PayPal in that context before the competent courts of and in Luxembourg.
10.3 No Waiver. Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.
10.4 Limitations of Liability. We shall only be liable to you for loss or damage caused directly and reasonably foreseeable by our breach of this Agreement and our liability in these circumstances is limited as set out in the remainder of this section.
- In no event shall we, the other companies in our corporate group, persons who act on our behalf, and/or the persons we enter into contracts with be liable for any of the following types of loss or damage arising under or in relation to this Agreement (whether in contract, tort (including, without limitation, negligence) or otherwise:
- any loss of profits, goodwill, business, contracts, revenue or anticipated savings even if we are advised of the possibility of such damages, loss of profits, goodwill, business, contracts, revenue or anticipated savings; or
- any loss or corruption of data; or
- any loss or damage whatsoever which does not stem directly from our breach of this Agreement; or
- any loss or damage whatsoever which is in excess of that which was caused as a direct result of our breach of this Agreement (whether or not you are able to prove such loss or damage).
- Nothing in this Agreement shall limit our liability resulting from our fraud or fraudulent misrepresentation, gross negligence, willful misconduct, for death or personal injury resulting from either our or our subcontractor’s negligence or to the extent such limitation or exclusion is not permitted by applicable law.
10.5 No Warranty. We provide to you the Services, our infrastructure, our websites, our software, and systems (including any networks and servers used to provide any of the PayPal services) whether operated by us or on our behalf subject to your statutory rights but otherwise provided without any warranty or condition, express or implied, except as specifically stated in this Agreement. PayPal does not have any control over the products or services that are paid for with our Service and PayPal cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorised to do so. PayPal does not guarantee continuous, uninterrupted or secure access to any part of our Services, our infrastructure, our websites, our software, and systems (including any networks and servers used to provide any of the PayPal services) whether operated by us or on our behalf. We shall not be liable for any delay in the failure in our provision of the Services, our infrastructure, our websites, our software, and systems (including any networks and servers used to provide any of the PayPal services) whether operated by us or on our behalf. You acknowledge your access to the Services, our infrastructure, our websites, our software, and systems (including any networks and servers used to provide any of the PayPal services) whether operated by us or on our behalf may be occasionally restricted to allow for repairs, maintenance or the introduction of new facilities or services. PayPal will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts and debit and credit cards are processed in a timely manner. You must check all correspondence between us carefully and tell us as soon as possible if it includes something which appears to you to be wrong or not made in accordance with your instructions.
In the event that PayPal decides to discontinue any of the PayPal services or any portion or feature of the PayPal services for any reason, PayPal will give you at least two (2) months’ prior notice before discontinuing the service or feature, unless PayPal determines in its good faith judgement that: (1) such service or feature must be discontinued sooner as required by law or a third party relationship; or (2) doing so could create a security risk or substantial economic or material technical burden.
You are solely responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with your use of the PayPal Services, including but not limited to, those related to export or import activity, taxes or foreign currency transactions.
10.6 Indemnification/re-imbursement. You agree to defend, re-imburse or compensate us (known in legal terms to “indemnify”) and hold PayPal, our other companies in our corporate group, the people who work for us or who are authorised to act on our behalf (including, without limitation, our service providers) harmless from any claim or demand (including legal fees) made or incurred by any third party due to or arising out of your, your employees or agent’s (or, where a third party otherwise acts on your behalf with your permission, that third party’s) actions and/or inactions, breach of this Agreement, breach of any law, breach of the rights of a third party, use of your PayPal account and/or use of the Services, our infrastructure, our websites, our software and our systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf.
10.7 Complete Agreement and third party rights. This Agreement (including any Schedule) sets forth the entire understanding between you and PayPal with respect to the Service. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced. A person who is not a party to this Agreement has no rights under the Contracts (Rights of Third Parties) Act 1999 to rely upon or enforce any term of this Agreement (except for the PayPal group in respect of their rights as specified in this Agreement) but this does not affect any right or remedy of third party which exists or is available apart from that Act.
10.8 Intellectual Property – Software Licence grant If you are using PayPal software such as an API, developer’s toolkit or other software application, which may include software provided by or integrated with software, systems or services of our service providers, that you have downloaded to or otherwise accessed through your computer, device, or other platform then PayPal and its licensors grant you a revocable non-exclusive, non-sublicensable, non-transferable, royalty-free and limited license to access and/or PayPal’s software in accordance with the documentation, including all updates, upgrades, new versions and replacement software, as described herein for your personal use only. You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation together with any instructions provided by us from time to time accompanying the Services (including, without limitation, any implementation and use requirements we impose on you to comply with applicable laws and card scheme rules and regulations). If you do not comply with PayPal’s instructions, implementation and use requirements you will be liable for all resulting damages suffered by you, PayPal and third parties. PayPal may update or discontinue any software upon notice to you. While PayPal may have (1) integrated certain third party materials and technology into any web or other application, including its software, and/or (2) accessed and used certain third party materials and technology to facilitate providing you with the Services, you have not been granted and do not otherwise retain any rights in or to any such third party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code which is derived from the software or any third party materials or technology, or otherwise create any derivative works from any of the software or third party materials or technology. You acknowledge that all rights, title and interest to PayPal’s software are owned by PayPal and any third party materials integrated therein are owned by PayPal’s third party service providers. Any other third party software application you use on the PayPal website is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that PayPal does not own, control nor have any responsibility or liability for any third party software application you elect to use on any of our websites, software and/or in connection with the Services. If you are using the Services on the PayPal website, or other website or platform hosted by PayPal, or a third party, and are not downloading PayPal’s software or using third party software applications on the PayPal website, then this section does not apply to your use of the hosted Services.
10.9 Intellectual Property – Content License Grant.
- Licenses granted by PayPal
Logo and Service identifiers: The URLs representing the PayPal Website(s), “PayPal,” and all related logos of our products and services described in our Website(s) are either copyrighted by PayPal, trademarks or registered trademarks of PayPal or its licensors. In addition, all page headers, custom graphics, button icons, and scripts are either copyrighted by PayPal, service marks, trademarks, and/or trade dress of PayPal. You may not copy, imitate, modify, alter, amend or use them without our prior written consent. You, as a merchant, may use HTML logos provided by PayPal through our merchant services, auction tools features or affiliate programs without prior written consent for the sole purpose of identifying yourself on your website as a merchant who accepts payments through the Service and directing web traffic from that website to the Service but we may limit or revoke this permission at any time and for any reason in our sole discretion. You may not alter, modify or change these HTML logos in any way, use them in a manner that is disparaging to PayPal or the Service or display them in any manner that implies PayPal’s sponsorship or endorsement. All right, title and interest in and to the PayPal website and any content thereon is the exclusive property of PayPal and its licensors.
- Licenses granted by you
Your business-related intellectual property: You grant the PayPal Group the worldwide right to use and depict your business name, trademarks and logos on our website and in our mobile and web applications for the purpose of displaying information about your business and its products and services.
Your content: When providing us with content or posting content (in each case for publication, whether on- or off-line) using the Services, you grant the PayPal Group a non-exclusive, worldwide, perpetual, irrevocable, royalty-free, sublicensable (through multiple tiers) right to exercise any and all copyright, publicity, trademarks, database rights and intellectual property rights you have in the content, in any media known now or in the future. Further, to the fullest extent permitted under applicable law, you waive your moral rights and promise not to assert such rights against the PayPal Group, its sublicensees or assignees. You represent and warrant that none of the following infringe any intellectual property right: your provision of content to us, your posting of content using the Services, and the PayPal Group’s use of such content (including of works derived from it) in connection with the Services.
10.10 Third Party Permissions.
a. Permissions in general. 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 by logging into your 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, PayPal may disclose certain information about your PayPal Account to this third party.
b. Using licensed third-party services to access your Account information
If you permit either:
- a third-party service provider licensed by applicable law to provide account information services (“AIS Provider”) to access information about your Account on your behalf; or
- a third party card issuer to confirm whether an amount necessary for the execution of a card-based payment transaction is available on your PayPal Account,
- this Agreement (including, without limitation, section 2.3) will still apply to you and your access to that information using the AIS Provider or card issuer; and
- you are liable to PayPal:
- for the actions that you authorise the AIS Provider or card issuer to take on your behalf; and
- under section 10.10.d (Your liability regarding any permissions you grant),
subject to your mandatory legal rights and section 8 (Errors and Unauthorised Transactions).
c. Using licensed third party services to initiate your payment
If you permit a third party service provider licensed by law to provide payment initiation services (“PIS Provider”) to initiate your payment on your behalf then:
- this Agreement will still apply to you and your payment initiated by the PIS Provider; and
- you are liable to PayPal:
a. for the actions that you authorise the PIS Provider to take on your behalf; and
b. under section 10.10.d (Your liability regarding any permissions you grant),
subject to your mandatory legal rights and section 8 (Errors and Unauthorised Transactions).
d. Your liability regarding any permissions you grant.
Granting permission to any third party in any way does not relieve you of any of your responsibilities under this Agreement. You acknowledge and agree that you will not hold PayPal responsible for, and will indemnify PayPal from, any liability arising from the actions or inactions of this third party in connection with the permissions you granted.
“Add Funds” means the process and/or functionality available in your Account interface allowing you to initiate the addition of funds to your Balance from your bank account
"Account" or "PayPal Account" means a Personal or Business Account.
"Agreement" means this agreement including all subsequent amendments.
“AIS Provider” has the meaning given in section 10.10.b.
"Authorise" or "Authorisation" means you authorise a merchant or other third party to collect or direct a payment from your Account.
“Balance” means any E-money that you have in your PayPal Account.
“Bank Confirmation process” is a verification process which PayPal may require you complete in order to lift sending. receiving or withdrawal limits or get Verified, involving PayPal sending two small deposits to your bank account. To complete the Bank Confirmation process you will be required to enter the details of the deposits sent to you via your Account. You can find more information about the Bank Confirmation process in the PayPal Help Centre which is located on the PayPal website.
“Bank Funded Payment” means a payment that is fully funded using your bank account (as the case may be).
"Business Account" means an Account used primarily for business purposes and not for personal, family, or household purposes.
"Business Days" means a day (other than a Saturday or Sunday) on which banks in Luxembourg are open for business (other than for the sole purpose of 24-hour electronic banking).
"buyer" means a User who is buying goods and/or services and using the Services to send payment.
"Chargeback" means a challenge to a payment that a buyer files directly with his or her credit card issuer or company.
"Claim" means a challenge to a payment that a sender of a payment files directly with PayPal including, without limitation, challenges filed under PayPal Buyer Protection set out in section 9.
"Commercial Transaction" has the meaning given to it at A4.1 of Schedule 1 Table of Fees.
"Cross Border" when used for the purpose of calculating transaction fees, has the meaning given to it at A4.4 of Schedule 1 Table of Fees.
"Customer Service" is PayPal’s customer support which can be accessed online via the “Email Us” link on the “Contact Us” page, or by calling the customer service number located on the PayPal WebSite(s).
"data controller", "data processor" and "data subject" have the meanings given to those terms under the Data Protection Laws.
“Data Protection Laws” means EU Directive 95/46/EC or Regulation (EU) 2016/679 (the latter being commonly known as the EU General Data Protection Regulation) and any associated regulations or instruments and any other data protection laws, regulations, regulatory requirements and codes of practice applicable to the provision of the PayPal Services, such as PayPal’s internal Binding Corporate Rules.
"Days" means calendar days.
"Default Funding Sources" means your credit card.
"Dispute" means a dispute filed directly with PayPal in the Resolution Centre pursuant to section 9 of this Agreement.
“Domestic” when used for the purpose of calculating transaction fees, has the meaning given to it at A4.3 of Schedule 1 Table of Fees.
"eBay" means eBay Inc and its affiliates (as the case may be).
"E-money" means monetary value, as represented as a claim on PayPal, which is stored on an electronic device, issued on receipt of funds, and accepted as a means of payment by persons other than PayPal. The terms "E-money", "money" and "funds" are used interchangeably in this Agreement. Further, a reference to a payment made by via the Services refers to an E-money payment.
“Europe I” has the meaning given to it at A4.4 of Schedule 1 Table of Fees.
“Europe II” has the meaning given to it at A4.4 of Schedule 1 Table of Fees
“European Economic Area” or “EEA” means the countries in the European Union plus Iceland, Norway and Liechtenstein.
"Expanded Use Programme" is a verification process which involves PayPal charging you a Card Confirmation Fee to your credit card. You must then log into your Account and enter the four-digit number which will appear on your credit card statement and which is associated with the Card Confirmation Fee (see Schedule 1).
"Fees" means those amounts stated in Schedule 1 of this Agreement.
"Funding Source" means the external payment method used to automatically obtain E-money in your Balance for payment transactions using PayPal
“Improper Account Access” has the meaning given to it at section 8.1.
"Information" means any confidential and/or personally identifiable information or other information related to an Account or User, including but not limited to the following: name, email address, post/shipping address, phone number and financial information.
"Mass Payments" means the ability to send multiple payments at the same time.
"Merchant Processing Delay" means a delay between the time you Authorise a payment and the merchant processes your payment.
“Northern Europe” has the meaning given to it at A4.4 of Schedule 1 Table of Fees.
“Payment Recipient” means the recipient of a payment made by a customer
"PayPal," "we," "us" or "our" means PayPal (Europe) S.à r.l. et Cie, S.C.A., with registered office at 22-24 Boulevard Royal L-2449, Luxembourg, duly licenced as a Luxembourg credit institution in the sense of Article 2 of the law of 5 April 1993 on the financial sector as amended and is under the prudential supervision of the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier.
"PayPal Buyer Protection" means the PayPal Buyer Protection programme as described in section 9.
“PayPal Group” means PayPal Holdings Inc., and its subsidiaries and subsidiary undertakings and affiliates (which includes, without limitation, PayPal) as the case may be.
"PayPal Website(s)" means any URL that we provide the Services to you.
"Personal Account" means an Account used primarily for personal, family, or household purposes.
"personal data" has the meaning given to it under the Data Protection Laws.
"Personal Payment” means a money transfer sent to another individual within his or her personal, family and/or household affairs environment.
“Personal Transaction” has the meaning given to it at A4.2 of Schedule 1 Table of Fees.
“PIS Provider” has the meaning given in section 10.10.c.
"Policy" or "Policies" means any Policy or other agreement between you and PayPal that you entered into on the PayPal WebSite(s), or in connection with your use of the Services.
" Pre-approved Payment” means a payment made by you using the Service on the basis of a Payment Order received by PayPal from you via a third party Authorised by you (for example, a store or other trader you intend to pay for your purchase). This type of payment is also known as an Automatic Payment.
“processing” (and its derivative terms) for the purpose of section 5.7 only has the meaning given to it under the Data Protection Laws.
“PSD2” has the meaning given to it in the second paragraph of this Agreement.
"Resolution Centre" means the PayPal Resolution Centre which can be accessed via the “My Account” tab when you are logged into your Account or by any other means as PayPal may from time to time make available.
"Restricted Activities" means those activities described in section 6 of this Agreement.
"seller" and "merchant" are used interchangeably and mean a User who is selling goods and/or services and using the Services to receive payment.
"Send Money" means your ability to send money though the Service.
"Services" means all products, services, content, features, technologies or functions offered by PayPal and all related sites, applications, and services.
"Significantly Not as Described" means the definition provided in section 9.9 of this Agreement.
"Substantial Change" means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.
"Verified" means that you have completed our verification process in order to help establish your identity with PayPal. Verification does not constitute an endorsement of a User, or guarantee a User’s business practices.
"User," "you" or "your" means you and any other person or entity using the Service.
When you send a payment, Fees apply depending on:
- the type of transaction the payment relates to (whether a Commercial Transaction, Personal Transaction or otherwise); and
- whether that payment is Cross Border or Domestic and/or which funding source is used fund the payment.
Fees apply for other account activity or events as outlined in this Agreement.
See the Glossary at A4 of this Schedule 1 for further reference.
Quoted Fees are inclusive of all applicable taxes; however, other taxes or costs may exist that are not paid through PayPal or imposed by us. You are liable for telephone charges and any charges made by your internet service provider or similar or associated charges as a result of the use by you of the Services.
We will provide you with the details of the amounts you send and our charges either by e-mail or in your transaction history (which you can access by logging into your Account). Unless it is proven that we have made a mistake, all fees are payable by you without set off or other deductions. We may make a charge for any additional services we provide outside this Agreement. We will tell you of those charges when you ask for the service.
A1. Personal Transaction payment Fees
Note that the sender pays the Fee. Please see A4.2.3 of this Schedule 1 for more information.
The Personal Transaction Fee will be shown at the time of payment.
A1.1 Sending a Domestic Personal Transaction Payment
Free (when no currency conversion is involved)
A1.2 Cross Border Personal Transaction Payments Fees
A1.2.1 Cross Border Personal Transaction payments sent to the EEA in Euro or Swedish Krona
A1.2.2 Other Cross Border Personal Transaction payments
To determine the Fee for a Cross Border Personal Payment sent to a user in a specific country, find the country in which the recipient’s registered address is located (second column). See A4.4 of this Schedule 1 for further reference. Ask the recipient if you are not sure.
^ Subject to service availability for the recipient registered in the given country.
See Section A4.7 of this Schedule 1 below.
A2. Commercial Transaction payment Fees
Where there is stated to be a Fixed Fee component, please refer to A4.6 of this Schedule 1 for more details.
A3 Other Fees
A3.1 Sending Payments through PayPal Mass Payments
2% of total payment amount
A maximum fee cap per payment applies as follows for Domestic Transactions, (based on payment currency):
A3.1.3 Fee cap for other PayPal Mass Payment transactions
A maximum fee cap per payment applies as follows for all other transactions (based on payment currency):
Note: For cross border Euro or Swedish Krona payments made between Accounts registered in the European Union or EEA the Domestic Transaction Cap will apply.
Activity or Event
A3.2 Currency Conversion
A3.2.1 For currency conversions of amounts in your PayPal account that do not form part of a specific transaction into or out of your account (e.g. converting your balance to another currency):
A3.3 Credit Card or Debit Card Confirmation
Some Users, in order to increase their sending limit or as PayPal may determine, may be charged a Credit Card and Debit Card Link and Confirmation Fee.
Depending on currency 1.00 GBP, 1.50 Euro, 1.95 USD, 2.45 CAD, 200 JPY, 2.00 AUD, 3.00 CHF, 15.00 NOK, 15.00 SEK, 12.50 DKK, 6.50 PLN, 60 RUB, 400 HUF, 50.00 CZK, 3.00 SGD, 15.00 HKD or 3.00 NZD, 70.00 TWD, 70.00 THB, 100.00 PHP, 4.00 BRL, , 20.00 MXN or 8.00 ILS
A3.4 Records Request
12 Euros or currency equivalent (per item). We will not charge you for records requested in connection with your good faith assertion of an error in your Account.
A3.5 Bank Return
The following Fee is charged when a withdrawal is attempted by a User and it fails because incorrect bank account information or delivery information is provided.
3 Euros (or currency equivalent)
A4.1 A "Commercial Transaction" payment involves buying and selling goods and services, making any other commercial transaction or receiving payments when you “request money” using PayPal. You may only send (and you may not receive) Commercial Transaction payments.
A4.2 A "Personal Transaction" payment involves sending money (initiated from the “Friends and Family” tab of the “Send Money” flow) to friends and family without making an underlying commercial transaction (that is, the payment is not for the purchase of goods or services or for making any other commercial transaction). You may only send (and you may not receive) Personal Transaction payments.
Please also note that:
A4.2.1 you cannot send money for a Personal Transaction from some countries (including China and (in some cases) Germany);
A4.2.2 Brazilian and Indian registered Accounts may neither send nor receive Personal Transaction payments. This means that you cannot send Personal Transaction payments to Indian or Brazilian registered Accounts; and
A4.2.3 the sender pays the Fee.
A4.3 A "Domestic" payment occurs when both the sender and receiver are registered with PayPal as resident in the same country.
A4.4 A “Cross Border” payment occurs when the sender and receiver are registered with PayPal as resident in different countries. Certain countries are grouped together as follows for ease of reference when calculating Cross Border payment Fees:
Aland Islands, Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway, Sweden.
Austria, Belgium, Channel Islands, Cyprus, Estonia, France (including French Guiana, Guadeloupe, Martinique, Reunion and Mayotte), Germany, Gibraltar, Greece, Ireland, Isle of Man, Italy, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Portugal, San Marino, Slovakia, Slovenia, Spain, United Kingdom, Vatican City State.
Albania, Andorra, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Georgia, Hungary, Kosovo, Latvia, Liechtenstein, Lithuania, Macedonia, Moldova, Poland, Romania, Russian Federation, Serbia, Switzerland, Ukraine.
A4.5 Percentage-based fees refer to an amount equal to that percentage of the payment amount, which (unless otherwise stated) is charged in the currency in which the payment is received.
A4.6 Fixed Fees for Commercial Transaction payments and Personal Transaction payments (unless otherwise stated) are based on the currency in which the payment is received, as follows:
New Zealand Dollar:
Hong Kong Dollar:
New Taiwan Dollar:
Israeli New Shekel:
U.K. Pounds Sterling:
A4.7 Fees charged in different currencies for sending payments: Some Fees are payable by you to PayPal in currencies that are different than the currency of the Balance(s) from which you send the payment amount. In such a case, we will perform a currency conversion (for which we will charge you a Currency Conversion Fee as set out in section A3.2 of Schedule 1) from the currency of each relevant initial Balance into the currency in which the Fee is payable and we will collect your Fees from the converted Balance.