Sounds like we all need to opt-out. I don't see the option yet but maybe it's not an available choice until it goes into effect. (unless someone else can find it?)
PayPal recently posted a new Policy Update which includes changes to the PayPal User Agreement. The update to the User Agreement is effective November 1, 2012 and contains several changes, including changes that affect how claims you and PayPal have against each other are resolved. You will, with limited exception, be required to submit claims you have against PayPal to binding and final arbitration, unless you opt out of the Agreement to Arbitrate (Section 14.3) by December 1, 2012. Unless you opt out: (1) you will only be permitted to pursue claims against PayPal on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.
You can view this Policy Update by logging in to your PayPal account. To log in to your account, go to https://www.paypal.com and enter your member log in information. Once you are logged in, look at the Notifications section on the top right side of the page for the latest Policy Updates. We encourage you to review the Policy Update to familiarize yourself with all of the changes that have been made.
If you need help logging in, go to our Help Center by clicking the Help link located in the upper right-hand corner of any PayPal page.
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posted: Oct. 2, 2012 @ 8:00a
airtommy: More discussion of this issue in this Finance thread http://www.fatwallet.com/forums/finance/1223689/
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Senior Member - 1K
posted: Oct. 2, 2012 @ 1:58p
There's a (justified!) pending Class Action against eBay/Paypal for eBay essentially forcing their users to use PayPal. Google it.
I'm sure this, and last month's similar notice from eBay, is related to the Class Action.
Has anyone actually opted out? I *want* to, but I don't want my eBay accounts zapped because I won't agree to their rules.
The address you have to write to to opt out is some shitty tract home in Utah. WTF?
2778 W. Shady Bend Lane Lehi, UT 84043
posted: Oct. 2, 2012 @ 2:37p
I'm not sure how eBay has managed to fly under the radar for so long in regards to fair-play and being a virtual monopoly. Having said that, Google Wallet etc are just as bad by having the EXACT same fee structure, creating no competition (like gas prices really). The whole freaking industry needs a shake up.
posted: Oct. 2, 2012 @ 9:41p
ganda said: The address you have to write to to opt out is some shitty tract home in Utah. WTF?
2778 W. Shady Bend Lane Lehi, UT 84043 Bizarre, it is a residential address. Check it on google maps. Someone should check to see if this house is zoned for a commercial busines and whether or not eBay has a business license for at this address.
Here's a link to the requirements which must be met for a home based business:
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