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Pay Pal Policy Updates

P

Pugsley

New member
Hey - if you use Pay Pal you might want to read this. Basically they are changing all disagreements to mandatory binding arbitration.

https://cms.paypal.com/us/cgi-bin/m...t_ID=ua/upcoming_policies_full&locale.x=en_US


Here is the opt-out info (kinda stupid that an online payment company requires you to snail mail them if you want to opt out!):

Opt-Out 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.
 
Sounds to me that PayPal may be getting tired of some legal challenges to the way they do business.

I don't think that YOUR failure to do something can allow PayPal to opt out of the legal system if you feel you have grounds for a lawsuit with them.

Otherwise, I (or anyone else, for that matter) could simply post a similar notice here saying that unless you send me a letter in triplicate, notarized, and fingerprints taken by your local FBI office, specifically opting out of an agreement to sign the deed of your house over to me, then you by default agree to do so. :rolleyes:

I don't believe ANY company can demand that you surrender your legal rights simply by stating that they want you to.

Now, that being said, I would be curious to hear if they drop your account if you send in that opt-out notice to them. Which, of course, will probably get them sued if they do so. :laugh:
 
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