Paypal Policy Updates

[guangxipku]

Hi,
Have you guys noticed the recently paypal policy updates?
Amendment to the PayPal User Agreement
Effective Date: Dec 22, 2011

I noticed this part,
11.7 Acceptable Use Policy Violations. If you violate the Acceptable Use Policy then in addition to the above actions you will be liable to PayPal for the amount of PayPal’s damages for each violation of the Acceptable Use Policy. You agree that $2,500.00 USD (or equivalent) per transaction in violation of the Acceptable Use Policy is presently a reasonable minimum estimate of PayPal’s actual damages considering all currently existing circumstances, including the relationship of the sum to the range of harm to PayPal that reasonably could be anticipated because due to the nature of the violations of the Acceptable Use Policy, actual damages would be impractical or extremely difficult to calculate. PayPal may deduct such damages directly from any existing balance in the offending Account, or any other Account you control.

Have you guys noticed this? Seems a dead end.

[unkown5454]

WOW...assuming you're using USA PP? I have not seen this.

[mine]

It means that withdrawing money quickly will become very important. Paypal could lose alot of money in interest if enough people started doing this so It's hard to see why they would impose something like this.

[BiN4RY]

I think you guys are not reading the keywords "damages to Paypal", meaning that they only reserve these kind of penalties in the extreme cases where you have caused some serious financial loss for paypal from trying to defraud Paypal themselves with fraudulent transactions.

[unkown5454]

PP doesn't really follow rules, or anything they ever say, you know?

[rsot]

Yet another way for pp to keep their hand in your pocket.

[mercurial333]

Now they can shove more negative balance on your account, thus selling the debt at a higher price.