Question
I see that PayPal has updated the user agreement, dated today, effective today too.
I thought they were supposed to give us a few weeks when they modified it?
Answer
I just noticed the same thing on Paypal, but I couldn't see exactly what was changed. I'm sure that's the point.
Yes, I believe they are supposed to give us notice whenever they update the user agreement. No one can wade through that whole thing and figure out any changes that have been made to it without having it spelled out for us in an announcement.
Answer
As of today, PayPal is giving a 1.5% cash back to use the Debit Card as a Credit Card. But, the policy states 1%.
PayPal Preferred Rewards / 1% cashback
Purchases that qualify: The PayPal Preferred Rewards program provides 1% cash back for all PayPal MasterCard Debit Card purchases that do not require a PIN. Most transactions do not involve a PIN, such as restaurant bills or paying online.
Many merchants that do ask for a PIN (e.g. at gas stations or grocery stores) offer you the option of choosing 'Credit' or 'ATM/Debit' when making a transaction. To qualify for the 1% cash back, you must choose 'Credit'. Even though you choose 'Credit,' the transaction will be processed as a debit to your PayPal balance or your bank account if you have one linked as a Backup Funding Source, not as a loan of any kind. If your PayPal Buyer Credit line is used as a Backup Funding Source, the transaction will be processed as a regular Buyer Credit transaction.
Eligibility. To be eligible for PayPal Preferred Rewards, you must complete the following requirements:
Obtain and activate a PayPal MasterCard ATM/Debit Card.
Provide your business information
And one of the following:
Show that you prefer PayPal on all of your eBay auction listing
OR
Promote PayPal on your website
Show PayPal in all of your eBay auction listings as the only online payment option that you advertise.
Promotion Period: PayPal reserves the right to change the PayPal Preferred Rewards program. PayPal will announce any changes to the program 4 weeks in advance in the Policy Updates section of the Account Overview page.
I've noticed the 1% before, but also noticed that that percentage had not been acted upon.
Answer
The refund started as 1.5% and was reduced to 1% but people already in the program were grandfathered at the higher reate.
Answer
Thanks Ray. I should read more often.