PayPal users: Act now to avoid £12 a year fee
Those with a PayPal account which has been inactive for a year (12 consecutive months) or more will be charged the fee from 16 December 2020.
By ‘inactive’, it means a user hasn’t sent, received or withdrawn money, or logged into their account for a year.
The fee will be the lesser of £12 or the account balance. But for those who don’t have any money in their account, they won’t be charged at all.
PayPal users can avoid the fee by logging into their account before 15 December, or making a transaction. You’ll then need to login to your account at least once every 12 months to avoid the fee in future years.
Withdrawing any cash in your account will also stop the fee being taken in the future.
At the time of the announcement in October, PayPal said it will warn inactive customers that they could be charged a fee by sending a notification 60 days, 30 days and then seven days before the fee is set to be charged.
For customers who may not remember their log-in details, you can call PayPal UK on 020 3901 7000.