PayPal Working Capital is a merchant cash advance linked directly to your PayPal account.
International Transaction fees coming to PayPal
PayPal have announced some changes to their User Agreement, and the bit you’ll be most interested in is changes to their International Transaction fees. There will be a new International Transaction fees coming for ‘some’ commercial transactions between the EEA and the UK. At the same time you will notice the additional percentage-based International Transaction fees are also changing.
Currently, PayPal have given notice that the changes are coming but the new fee schedule won’t be published until the 7th of September, so mark the date in your diary to find out what International Transaction fees you’ll be charged. These changes will be effective from the 10th of November 2021.
Amendments to the PayPal User Agreement
- We are revising PayPal’s Seller Protection program to clarify eligibility for certain claims involving travel tickets sold by the travel carrier.
- We are requiring sellers who are Corporate Customers to notify us of any pricing errors or discrepancies within sixty (60) days from having access to their account statement(s) or other account activity information.
- We are removing the PayPal Payouts section and replacing it with a standalone agreement called the PayPal Payouts Agreement on the legal hub.
- We are clarifying the types of costs used to calculate the reasonable minimum estimate that we may recover if you engage in any restricted activities.
- We are introducing an additional service fee of 1.29% for some international commercial transactions between the EEA and the UK.
- We are changing the additional percentage-based fees for international commercial transactions as well as simplifying our market/region country classifications for these fees. The fees are changing from the rates shown in the current User Agreement to the new rates that will be shown on the updated Merchant Fee page that will publish on or after September 7, 2021
At the same time, to anticipate changes partly arising from the United Kingdom’s exit from the European Union, PayPal will be amending the Direct Debit Instruction from JPMC Re PayPal Pte Ltd to JPMC Re PayPal as the Originator of the transaction. This change will also take place on the 10th of November but no action is needed from you.
Still, blue passports
Brexit, the gift that keeps on giving…