Shopping Discussion

PayPal Canada introducting account inactivty fees of $20/yr

  • Last Updated:
  • Dec 19th, 2021 12:30 pm
Newbie
Feb 25, 2018
22 posts
17 upvotes
Dealfinder111 wrote: So there should be no inactivity fee if there is no balance on the account?
Right. This aligns with my previously stated theory that this was all just a douche-bag rouse to get class action settlement payments back. They are not actually trying to recover any costs of maintaining dormant accounts -- because a dormant account is a dormant account whether it has $$ in it or not -- so why only charge accounts with $$ in them? So they are just trying to recover these smaller-than-a-minimum-transfer-amount payments they had to make to people to settle a class action suit.

I would encourage everyone who has such an amount to call PP and request a cheque. Cutting and mailing out cheques is the hardest they can be hit over this dick move they are making.
Last edited by BrianJM on Aug 20th, 2021 10:54 pm, edited 1 time in total.
Newbie
Feb 25, 2018
22 posts
17 upvotes
Poutinesauce wrote: The big question is why isn't PayPal regulated and held accountable to like a bank. Why is the government letting it do whatever they want with zero due process or oversight whatsoever?
Because they are not a bank. I am sure they are very careful to make sure they don't do anything that brings them under any kind of oversight or regulation such as a bank does.
Deal Guru
User avatar
Apr 10, 2011
10556 posts
19660 upvotes
Montreal
Poutinesauce wrote: The big question is why isn't PayPal regulated and held accountable to like a bank. Why is the government letting it do whatever they want with zero due process or oversight whatsoever?
On top of not being a bank (that can create money through loans) they are a US corporation. It's very difficult for the Canadian government to effectively regulate a digital corporation. But they can not do whatever they want. For example, they could not offer mortgages; that's regulated.
Newbie
Feb 25, 2018
22 posts
17 upvotes
I don't think being a US corporation really has much to do with it. PayPal in Canada is a Canadian company/subsidiary/whatever. It is called PayPal Canada. And even if it were not, it would not be any more difficult regulating them than it's going to be for Canada to require Netflix (another US corporation) to collect HST on Canadian subscriptions. Could Netflix simply refuse to do it? Sure. But it's frankly not in their interest to create friction with the Canadian government in doing so. Collecting and remitting HST is going to be a bit of a pain for them, sure, but not enough to start getting into a pissing contest with a government over.

Same for PayPal I'd guess.
Deal Guru
User avatar
Apr 10, 2011
10556 posts
19660 upvotes
Montreal
The question was regulating PayPal and holding them accountable like a bank for their practices; not collecting taxes. There is a well established law to collect taxes. If it gets applied or not is a political matter. There aren't many laws governing private business practices. In the end, if you are not happy with the way a private corporation does business, you can always take your business somewhere else.
Newbie
Feb 25, 2018
22 posts
17 upvotes
Temporel wrote: In the end, if you are not happy with the way a private corporation does business, you can always take your business somewhere else.
Yup. Did just that.
Deal Fanatic
User avatar
Aug 29, 2012
8756 posts
8493 upvotes
Temporel wrote: The question was regulating PayPal and holding them accountable like a bank for their practices; not collecting taxes. There is a well established law to collect taxes. If it gets applied or not is a political matter. There aren't many laws governing private business practices. In the end, if you are not happy with the way a private corporation does business, you can always take your business somewhere else.
Try saying that to a Bell customer in the 80s.

Private corporations being able to do whatever they want is not an absolute concept.
Jr. Member
Dec 14, 2011
124 posts
20 upvotes
Halifax, NS
Jokes on them. I have 0 dollars in my paypal. So HAH! Try getting 20 from that :)
Member
User avatar
Sep 26, 2011
397 posts
518 upvotes
lazycow9 wrote: Jokes on them. I have 0 dollars in my paypal. So HAH! Try getting 20 from that :)
If they were ultimate scum, they'd steal the $20 from any linked bank account or credit card, or even worse, send the amount owed to a collections agency. But, according to the RFD news article:
PayPal will not charge credit or debit cards linked to your account and will withdraw any inactivity fees from PayPal wallet balances – in other words, you will not be charged if you have a $0.00 wallet balance.
... which is why I've started the slow, two-step process of adding $13.05 to my wallet, then withdrawing the (minimum) $15 so I can get my whopping $1.95 credit. :rolleyes:
Deal Guru
User avatar
Apr 10, 2011
10556 posts
19660 upvotes
Montreal
Poutinesauce wrote: Try saying that to a Bell customer in the 80s. (...)
Telecommunications is a heavily regulated sector in Canada, payment solution providers not so much.
lazycow9 wrote: Jokes on them. I have 0 dollars in my paypal. So HAH! Try getting 20 from that :)
Your PayPal account is linked to your bank account? Live in fear as the article quoted above does not give any reference to substantiate what they say. All they mention is "we've reached out to PayPal for clarification" but they don't say if indeed PayPal has responded to their request. I want to see an official detailed statement from PayPal about this and I'm pretty pissed at them at the moment. I'm considering closing my account.
Deal Expert
User avatar
Nov 16, 2004
24606 posts
12667 upvotes
Toronto
Umm what? Is PayPal kidding?
Good way to become obsolete
chemicalxv wrote: They rolled this out in other countries earlier this year and literally all you need to do is log in at least once per year.

Also you don't get charged if your account balance is $0. I don't know why anyone would honestly keep money in their Paypal balance long-term anyways if they're not using the account.
I use PayPal every so often but kept a balance through refunds, in hopes that my U.S. funds stretch further as the Canadian dollar gets better (hopes). That was why I kept a balance.

eBay left PayPal correct? I think I opened a PayPal account FOR eBay ...
If it's no longer needed, then why do I need PayPal? Ease of payment on SOME sites, sure, but why do I need PayPal then? Any good reason?

Might seriously consider leaving
RedFlagDeals Addict - 2008 Nominee for Most Helpful User
Wash your car at Petro-Canada? Think again! Car damaged and nobody cares
Newbie
Mar 7, 2011
1 posts
1 upvote
... which is why I've started the slow, two-step process of adding $13.05 to my wallet, then withdrawing the (minimum) $15 so I can get my whopping $1.95 credit.

Is this really work? no fee charged for transfer back to bank?
Deal Addict
User avatar
Jul 25, 2008
1880 posts
596 upvotes
Ottawa
I added 3.05 to my 1.95 and donated to Humane Society.

The inactive account fee will be a fabourite mark forscammer and malware virus.

I will see ..eventually I will dump PayPal because of this policy. And very high currency conversion rate.
This company exist because we purchase using them.
Sr. Member
Sep 29, 2010
646 posts
1382 upvotes
i guess this means paypal will stop doling out nominal denominations to try and lure inactive customers back in...
they "say" they won't charge the cards on file... time to use up my wallet and exit stage left.
Deal Addict
Jul 13, 2016
1037 posts
601 upvotes
WPLL wrote: ... which is why I've started the slow, two-step process of adding $13.05 to my wallet, then withdrawing the (minimum) $15 so I can get my whopping $1.95 credit.

Is this really work? no fee charged for transfer back to bank?
Yes, of course, no fee, just a waste of time.
Sr. Member
Jul 24, 2012
929 posts
181 upvotes
emilio911 wrote: Yes, of course, no fee, just a waste of time.
I agree with the waste of time. I initial a transfer from my bank to paypal on Aug 22, money already taken out from bank account on Aug 25. Still nothing in paypal yet as of today Aug 30. Really took so long to transfer money from bank to paypal? Paypal shows estimate arrival time is Sept 2.
Member
User avatar
Sep 26, 2011
397 posts
518 upvotes
Dealfinder111 wrote: I agree with the waste of time. I initial a transfer from my bank to paypal on Aug 22, money already taken out from bank account on Aug 25. Still nothing in paypal yet as of today Aug 30. Really took so long to transfer money from bank to paypal? Paypal shows estimate arrival time is Sept 2.
Not a waste of time: it's the principle of being able to give PayPal the middle finger salute.
I initiated my $13.05 transfer in on Aug. 20, and received the email notification that it was in my PayPal wallet on Aug. 27. Yes, PayPal is slimy because the funds were already taken out of my bank account in about half the time it took them to post it to the PayPal wallet. Interestingly, the subsequent $15 transfer out to my bank account happened much faster: completed within a day or two.
Deal Guru
User avatar
Jun 27, 2004
14363 posts
3605 upvotes
Vancouver.bc.ca
Hey, cool, I just checked and found the $1.95 that everyone was talking about. Guess I'll have to buy some cheap crap off eBay, like some silicon port plugs :) .

Top