PayPal Policy Update is bad for users. Opt out while you can.
PayPal is updating their policy and it is not going to be a user-friendly one. The update is neatly hidden on their website and only accessible to logged-in users.
If you do nothing, here is what PayPal will have you sign:
1) You cannot sue PayPal, you can only go through arbitration.
2) You cannot be part of any class action claim agains PayPal.
3) You can only fight against PP individually.
To opt-out, you have to submit a written letter, via a postal office.
Full PDF copy of the update available here, in case the links breaks - http://sctz.co/c1
I heard PayPal wants to be likable by their customers. This update is certainly not helping the case.
43 comments
[ 5.0 ms ] story [ 112 ms ] threadIf you do nothing, there is what PayPal will have you sign:
1) You cannot sue PayPal, you can only go through arbitration. 2) You cannot be part of any class action claim agains PayPal. 3) You can only fight against PP individually.
To opt-out, you have to submit a written letter, via a postal office.
Full PDF copy of the update available here, in case the links breaks - http://sctz.co/c1
I heard PayPal wants to be likable by their customers. This update is certainly not helping the case.
I don't know about you, but if my account was indeed terminated without reason, thus causing my business financial problems (or maybe even failure), I would want to take legal actions.
Mediation may not be the answer, especially when it is you vs. a giant company.
In fact, what you often actually want out of such court actions is to get everyone to agree to arbitration, as it will be faster and cheaper: it ends up being common to use continued presence in court to simply ratchet up the fees until the other guy breaks down and agrees to arbitration.
For a normal person, the result of this would then suck: attempting to sue PayPal will be extremely expensive, will involve having lawyers in Delaware (and possibly having to go there yourself), and, best case, is going to end up in arbitration anyway... bothersome enough to just be prohibitive.
Meanwhile, for a normal person, you are dealing with small amounts of money; the result is that you will likely be attempting to use small claims court anyway, and this policy change continues to let you (and not PayPal!) do this. The limit on small claims court in Delaware is one of the highest in the country: $15,000.
That said, I agree that this is pretty crummy: we have our legal system setup the way it is for a reason (although, in practice, it ends up being often quite broken). I am seriously going to consider opting out of this; but, in the end I believe that I may actually just determine it is beneficial for me and accept it.
Also, the change that prevents you from being part of a class action lawsuit sucks (but, /that/ said, class action lawsuits normally involve individual participants getting a few dollars... it is hardly worth it for most people to bother being part of a class action).
kirillzubovsky's PDF without going through the 'Scoutzie' link-shortener: https://www.dropbox.com/s/65b04pv792mejb9/Amendment%20to%20t...
I further require the removal all of data related to myself from all records and systems where permitted by law.
Regards,
Brian G.
> You have successfully closed your account.
i'd rather have honesty and not ignorance
*source: https://stripe.com/jobs
[1] https://cms.paypal.com/au/cgi-bin/?cmd=_render-content&c...
It's not blogspam if the post explains why we should opt out. At the time I posted my request, this was only a link to the new policy announcement, without explanation. It's since changed to a linkless submission with the supporting argument. That's better -- almost as good as a blogpost (which would also provide more context on the author's perspective and credibility).
Procedure: You can choose to reject this Agreement to Arbitrate ("opt out") by mailing us a written opt-out notice ("Opt-Out Notice"). For new PayPal users, the Opt-Out Notice must be postmarked no later than 30 Days after the date you accept the User Agreement for the first time. If you are already a current PayPal user and previously accepted the User Agreement prior to the introduction of this Agreement to Arbitrate, the Opt-Out Notice must be postmarked no later than December 1, 2012. You must mail the Opt-Out Notice to PayPal, Inc., Attn: Litigation Department, 2211 North First Street, San Jose, CA 95131.
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.
I don't move a lot of money through PayPal so to be honest, I don't much care. :/
As a business you now have several decent options for handling your online Credit Cart or payment processing.
As a consumer most credit cards and banks now make it easy to pay online or pay people directly.
At one time Paypal served a purpose, but the rest of market has largely caught up or passed them.
If this is something that makes you close your paypal account, it's probably something you should've done years ago, because that update is nothing. The extent the anti-paypal circlejerk has come on HN is ridiculous, at least be mad over things which actually are bad, not something which is the norm.