I dream about PayPal

[carlsson]

Tonight, I dreamed that PayPal would change their pricing, and now have yearly fees on top of transaction fees. Someone who just makes payments would pay $29/year to keep the account, and someone who receives money at least once would pay $39/year.

Was this just a bad dream? I'm just a margin user, but I suppose most people wouldn't have any options, at least not in the short term if PayPal (perhaps in cooperation with eBay) suddenly would introduce such fees.

[Jorg]

This I got yesterday.
I did not yet read the new 'Agreement' (as far as I know, agreements are between two parties...)

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We would like to announce important developments affecting all PayPal accounts in the European Union (the "EU").

No action is required on your part, and you will be able to continue using PayPal with no changes.

Currently, PayPal (Europe) Ltd. is the service provider for PayPal in the EU. PayPal (Europe) Ltd. is a UK company regulated and authorised by the Financial Services Authority (FSA) in the UK as an electronic money institution. This authorisation enables PayPal to provide its service throughout the EU.

From 2 July 2007, a new PayPal company, PayPal (Europe) S.à r.l. & Cie, S.C.A. (PayPal Luxembourg), will become the service provider for PayPal in the EU. This is a Luxembourg entity regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg equivalent of the FSA. PayPal Luxembourg will provide the PayPal service throughout the EU.

Your customer relationship with PayPal
On 2 July 2007, your customer relationship will be automatically transferred from PayPal (Europe) Ltd. to PayPal Luxembourg. This includes your customer relationship as governed by the terms of the PayPal User Agreement and, for applicable UK merchants, the PayPal Website Payments Pro Agreement (collectively, the "Agreements").

To summarise, from 2 July 2007, PayPal (Europe) Ltd. will assign to PayPal Luxembourg all its right, title, interest and benefit in and to the Agreements.

New User Agreement and Privacy Policy
As of 2 July 2007, PayPal Luxembourg will have a revised User Agreement and Privacy Policy.

The revised User Agreement will help users more easily understand PayPal’s terms and conditions and will encorporate many of the policies currently accessed by hyperlinks.

Under the Privacy Policy, PayPal Luxembourg will be the data controller of your personal information as of 2 July 2007 and will provide more details about the third parties to whom PayPal Luxembourg will disclose your personal and account information.
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