PAYPAL CASH AND PAYPAL CASH PLUS TERMS AND CONDITIONS
About Your Cash Account
The PayPal Cash and PayPal Cash Plus phrases and conditions will be positive for all customers as of November 9, 2020.
These phrases and stipulations are between you and PayPal, Inc. and govern your use of your PayPal Cash account or PayPal Cash Plus account and the PayPal offerings associated with that account.
The time period “Cash Account” in these phrases and stipulations will be used to refer to both a PayPal Cash account or a PayPal Cash Plus account.
These phrases and conditions practice to U.S. Cash Accounts only. You have to be a person and resident of the United States or one of its territories and at least 18 years old, or the age of majority in your nation of the house to open a U.S. Cash Account and use the PayPal services. If you are a business, the commercial enterprise must be equipped in, running in, or a resident of, the United States or one of its territories to open a U.S. Cash Account and use the PayPal services.
By opening and the use of a Cash Account, you agree to comply with all components of these phrases and conditions. These phrases and conditions encompass an agreement to unravel disputes by way of arbitration on a character basis. You additionally agree to comply with the following:
PayPal Account User Agreement
Acceptable Use Policy
Electronic Communications Delivery Policy (E-Sign Disclosure and Consent)
Please examine carefully all of these terms and conditions and each of the different agreements and insurance policies that practice to you.
We may additionally revise these terms and prerequisites and any of the agreements and policies listed above from time to time. The revised model of these terms and stipulations will be effective at the time we submit it unless otherwise noted.
If our changes to these terms and conditions limit your rights or extend your duties we will submit a word on the Policy Updates page of our website and provide you at least 21 days’ development notice.
By continuing to use our offerings after any modifications to these terms and conditions, you agree to abide and be bound via those changes. If you do now not agree with any changes to these phrases and conditions, you can also close your Cash Account.
Opening a Cash Account
If you open a Cash Account you will be capable to maintain a balance, and use the balance to send and obtain money, purchase things on-line the usage of mobile devices or in stores, and make payments, amongst different benefits.
You can only open a Cash Account if you have a non-public PayPal account in suitable standing, and you can solely use your Cash Account by using accessing it through your personal PayPal account. We will mechanically link your Cash Account to your private PayPal account.
You can’t have each a PayPal Cash account and a PayPal Cash Plus account linked to your non-public PayPal account at the equal time. Your login credentials for your non-public PayPal account act as the credentials to get admission to your Cash Account.
Before you can open a Cash Account, we need to verify or have earlier validated the required figuring out information that you furnish to us.
The required identifying information is named, bodily address, date of delivery, and taxpayer identification number.
You are responsible for maintaining enough security and manipulate any and all IDs, passwords, private identification numbers, or any other codes that you use to get the right of entry to your Cash Account and the PayPal services. You should hold your mailing address, email address, and different contact records present-day in your PayPal profile.
Closing Your Cash Account
You can shut your Cash Account besides closing your personal PayPal account however you can’t close your personal PayPal account besides closing your Cash Account. Closing a non-public PayPal account will end result in PayPal mechanically closing your Cash Account.
You can terminate your relationship with us at any time without cost, however, you will continue to be dependable for all obligations associated with your Cash Account and personal PayPal account even after those accounts are closed.
You must withdraw or switch any cash held in a Cash Account earlier than closing the Cash Account.
In certain cases, you can also no longer shut your Cash Account, including:
To avoid an investigation.
If you have a pending transaction using your Cash Account as the fee approach or an open dispute or claim associated to your Cash Account.
If your Cash Account has a negative balance.
If your Cash Account is subject to a preserve or limitation.
Available Features of Cash Accounts
As described in greater element below, here are some of the matters you can do with a PayPal Cash account:
Convert cash from one forex to another;
Set desires for managing the cash in your PayPal Cash account;
Withdraw cash from your PayPal Cash account to a debit card or bank account linked to your private PayPal account;
Transfer money for purchases of items and services;
Send cash to friends and family; and
Buy, sell, and maintain sure cryptocurrencies if eligible.
If you have a PayPal Cash Plus account, you can do all of the matters you can do with a PayPal Cash account, plus the following:
Make in-store purchases the use of a PayPal-branded debit card linked to your PayPal Cash Plus account;
Transfer money into and out of your PayPal Cash Plus account at ATMs the use of a PayPal-branded debit card;
Set up Direct Deposit of money into your PayPal Cash Plus account;
Load money into and withdraw funds from your PayPal Cash Plus account at countless retail stores at some point in the U.S.; and
Transfer proceeds from tests into your PayPal Cash Plus account using our remote test seize feature.
Receiving Funds into Your Cash Account
You may transfer money into your Cash Account from any bank account linked to your private PayPal account through soliciting for an electronic transfer from your financial institution account.
If you have opened a Cash Account, cash sent by way of anybody else to your non-public PayPal account will routinely be positioned in your Cash Account.
To receive money in foreign money your Cash Account is no longer currently configured to accept, it may additionally be critical to create a balance in your Cash Account in that foreign money or convert the cash into another currency. Certain currencies can solely be received by means of converting the money into any other forex that PayPal approves you to hold. If the money is converted, PayPal’s transaction exchange charge (including our currency conversion spread) will be used.
If you have a PayPal Cash Plus account, you can load dollars into it at sure retail stores. You can additionally organize to transfer cash into a PayPal Cash Plus account using the Direct Deposit and far-flung take a look at seizing features.
Fees associated with in-store money reload and some far-flung check capture transactions can be determined in the PayPal Cash Plus Long Form Disclosure.
Holding Funds in Your Cash Account
Any balance in your Cash account represents an unsecured declare in opposition to PayPal.
Funds held in a PayPal Cash account are eligible for Federal Deposit Insurance Corporation (FDIC) pass-through insurance, but only if you have installed Goals in your PayPal Cash account.
Funds held in a PayPal Cash Plus account are eligible for FDIC pass-through insurance, however only if you have a PayPal Cash Card debit card, have enrolled in Direct Deposit, or have set up Goals in your PayPal Cash Plus account.
If your Cash Account is not eligible for FDIC pass-through insurance, PayPal combines your Cash Account stability with the balances of other Cash Account holders and invests these funds in liquid investments in accordance with state money transmitter laws. PayPal owns the interest or other earnings on these investments.
However, the declaration in opposition to PayPal represented by means of your Cash Account balance is now not secured via these investments and you do not have any ownership activity (either prison or beneficial) in these investments.
These pooled quantities are held aside from PayPal’s company funds, and PayPal will neither use these funds for its running costs or any other corporate purposes nor will it voluntarily make these cash reachable to its creditors in the event of bankruptcy