Paypal to keep fees on refunds as of 24th Feb 2014
...We’ve made some updates to the following agreements and policies: |
- User Agreement
- Combined Financial Services Guide and Product Disclosure Statement
- Electronic Fund Transfer Rights and Error Resolution
These changes will be effective as of 25 February 2014.
Who do the changes affect?
The latest changes will mainly affect users who issue refunds on Commercial Transaction payments and users who receive eCheques.
What are they?
The main changes to our agreement and policies relate to the following fees:
We will start to retain the fixed fee portion of the Commercial Transaction fee. We’ve added examples to help you understand the change; and -
We will be increasing the cap for receiving eCheque payments based on payment currency. ...
Where can I see the details?
The full details of our policy updates are published on our website. To stay safe from phishing, we recommend you always type our URL into your browser instead of clicking links in emails.
Visit the PayPal site by typing http://www.paypal.com.au into your browser address bar. Click Legal at the bottom of the page and then Policy Updates.
For small items it might not be much but for larger items (like coaching fees that sometimes go into the thousands) it's going to be a sizable cost.
I can see some refund policies tightening up or adding "less fees" into the refund equation - not sure how that'll work though. It's been so long since I had to refund anyone...can a refund be limited to a portion of the transaction? I can't remember.
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