If you haven’t used PayPal at least once during the past year, it will soon cost you. The platform is quietly adding a $20 annual fee for inactive accounts in Canada.
The change was spotted on PayPal’s Canadian user agreement back on the 11th of August.
“We are introducing an annual account inactivity fee of $20 CAD” that is effective as of November 20th, 2021, reads the fineprint.
Other than that User Agreement update, there are no other mentions of the change on PayPal’s website.
This fee was also introduced in the U.K. back in December 2020. If the criteria is the same in Canada, inactive accounts are those that haven’t been used for 12 consecutive months.
To avoid the fee, you’ll need to log into your PayPal account or make a payment at least once per year. Additionally, PayPal will not charge debit or credit cards link to your account and will only withdraw from accounts with a balance in their wallets.