Paypal Policy Updates – How will it affect you?

I imagine many of us use PayPal.

Recently, they sent out a change to their terms and conditions which, if most people are like me, we barely glanced at.

It includes a clause restricting you from participating in any legal action or disputes against Paypal itself as a member of a class action or as a plaintiff. You will have to file an individual claim against them and agree to be part of arbitration. Given that they have access to my bank accounts and credit cards, and given how many hackers are out there–and how smart they are–this is absolutely unacceptable to me, and I imagine to others.

If you also want to retain control over how you sue PayPal, you have 30 days (if you are a new paypal customer) or until December 1st (for existing customers) to opt-out.

Below are instructions and the address where you opt-out.

a.The Opt-Out Notice must state that you do not agree to this Agreement to Arbitrate and must include your name, address, phone number, and the email address(es) used to log in to the PayPal account(s) to which the opt-out applies. You must sign the Opt-Out Notice for it to be effective. This procedure is the only way you can opt out of the Agreement to Arbitrate. If you opt out of the Agreement to Arbitrate, all other parts of the User Agreement, including all other provisions of Section 14 (Disputes with PayPal), will continue to apply. Opting out of this Agreement to Arbitrate has no effect on any previous, other, or future arbitration agreements that you may have with us.

b.You must mail the Opt-Out Notice to PayPal, Inc., Attn: Litigation Department, 2211 North First Street, San Jose, CA 95131.

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