Paypal: From 2023 there will be a fee for inactive accounts

If you sell something over the Internet, the Paypal payment service is the safest possible way of paying. With new terms of use, the company has now announced an inactivity fee for private customers. Customers in Germany are excluded for this year, but from 2023 there will also be one in this country A penalty fee of 10 euros applies.

How to avoid the fee for inactive Paypal accounts

Starting next year, all private PayPal customers whose existing credit has not been used for more than twelve months will have to pay a fee of 10 euros in order to continue to have a PayPal user account. If you do not pay the amount, the account will be closed after another 60 days of inactivity. In order to avoid having to pay the fee, it is sufficient to register with Paypal from time to time or to actively use the user account and, for example, make transfers, donations or purchases.

“Accounts with a zero balance are not affected by this fee and this fee will not result in a negative balance. If an account no longer has a positive balance after being charged this fee and remains inactive for an additional 60 days, that account may be closed after the 60 days are up. ” -Paypal.

Paypal had already asserted new terms of use in August 2022. Fees are charged for all transactions and other services that merchants process with PayPal. The fee for online payments is no longer 2.49 but 2.99 percent of the respective turnover. In addition, the basic amount has been 39 cents since August. On Nov. 3, PayPal reported that quarterly revenue increased 11 percent to $6.85 billion. However, he should The increase in sales for the entire year 2022 will only be around 8.5 percent and thus lower than in the previous year stand out.

Also worth reading: Paypal: Merchant fees will rise from August – and the prices for consumers?

Paypal Inactive Account Fee Collection:

• PayPal has now announced an “inactivity fee” for private customers by means of new terms of use. From 2023, a fee of 10 euros will be charged if you have not used your Paypal account for more than twelve months.
• If you do not pay the amount, the account will be closed after another 60 days of inactivity.
• In order to prevent account closure and not have to pay a fee, one should register with Paypal, have a user account with zero balance or actively use Paypal.

Source: PayPal