Close this search box.

Cancelling PayPal

PayPal says it will not fine users $2,500 for spreading misinformation, even though an updated user agreement from the company indicates that they wanted to at some point.

A PayPal spokesperson confirmed that the new user agreement was sent out in error. They really don’t intend to fine users for incorrect information. But the terms of service says this:

“You may not use the PayPal service for activities that … involve the sending, posting, or publication of any messages, content, or materials that, in PayPal’s sole discretion … promote misinformation.”

PayPal’s sole discretion? They decide what is acceptable to say now? The terms said that PayPal could liquidate damages of $2,500 per violation, withdrawing the money directly from your account! They have links to your bank accounts! Or at least they did until I read this story and unliked all of my accounts! Same with Venmo.

Related Articles

Join the mailing list

Get the daily email that makes reading the investment news actually enjoyable.

Related Articles

Redacted is an independent platform, unencumbered by external factors or restrictive policies, on which Clayton and Natali Morris bring you quality information, balanced reporting, constructive debate, and thoughtful narratives.