Paypal, one of the internet’s largest payment services, has quietly adjusted their fees, leading to outrage among a large portion of the online community.
Paypal, no stranger to controversies in the past, quietly announced a fee change that grossly changes the way that the payment service operates payment transfers. Prior to the change, individuals who were using a personal account were charged no fees for transferring money to other personal accounts. Business and premium accounts were charged a 30 cents plus 2.9 percent commission on every transaction that passed through the account.
Now, however, the playing field has been leveled. All users are charged a 3 cents plus 2.9 percent commission on every transaction that their account enters into. The only account not subject to this fee are one-time cash gifts between personal accounts. However, because many users respond to invoices and requests for payment, they do not have the option to employ this loophole.
While it is the prerogative of a company to change their fee structure whenever they wish, many users are most angered by the fact that Paypal neglected to tell their users about the shift in policy in simple language, instead opting for a densely worded update that was sent to users via e-mail (the policy shift could also be seen on the company’s website). While Paypal noted that they avoided a more public communication because they “weren’t really adding any fees,” many users find are outraged about the new fees now attached to personal accounts.
