PayPal Users Need To Act Now To Avoid £12 Fee This Month

• PayPal will start charging inactive accounts for £12 beginning this December 16.
• Inactive users are defined as those who haven’t “logged in or sent, received or withdrawn money” for the past 12 months.

Do you have a PayPal account but haven’t been using it much lately? If you answered yes to that, then now’s the time to go check it.

According to recent reports, the online payment system will soon begin charging users who have been inactive for more than 12 months. This will officially start on December 16, 2020 when dormant accounts will be charged an annual fee of £12.

In a LadBible article, we learn that PayPal users who have not “logged in or sent, received or withdrawn money” for 12 consecutive months will be charged. These account owners will be sent notifications by the company 60 days, 30 days, and 7 days before charging them £12.

Meanwhile, inactive users who have not linked a bank account won’t have to worry because the upcoming change will not be applicable to them. The reason behind this is that PayPal will be charging users from their bank accounts so those who have not indicated any will have no problems about this at all.

“If you have less than £12 in your account PayPal will simply zero it, and if you have no money or a negative balance you won’t be charged,” LadBible also reported.

The news first broke back in October but now that December has come, users are being reminded to act fast before it’s too late.

Paypal users warning. It is going to introduce a £12 inactivity fee. Here's how it works, and how to avoid it… https://t.co/fPJkizykEo

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— Martin Lewis (@MartinSLewis) October 13, 2020

In an official statement issued by PayPal, we read:

“We are establishing an inactivity fee for accounts that have been inactive for at least 12 consecutive months. This provisions does not apply to PayPal users registered in Ireland and to personal accounts registered in Hungary.”

A Mirror feature shares several ways to avoid the fee.

First, those not using the service anymore can simply close their accounts by going to “Settings” and choosing “Close your account” at “Account” menu.

Other than that, those who decide to keep their account could instead transfer their money to another account since PayPal will not charge those with zero balance.

Lastly, irregular users who want to maintain their account and balance may simply set a calendar reminder “on a certain date every year to ensure you’re not charged the fee in future,” mentioned Mirror.