Pay Pal users
For those that have an account with PayPal but haven't used it for a while - Beware.
They are going to put a charge on your account.
PayPal is set to introduce an annual fee of up to £12 for users whose accounts have been inactive for a year or more – but you can avoid the charge by logging into your account before the deadline in December.
From 16 December 2020, PayPal users will be charged the fee if their accounts have been inactive for at least 12 consecutive months.
PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account.
If your account has been inactive for over 12 months, the fee you're charged will be the lesser of £12 or your entire PayPal balance. If you don't have any money in your PayPal account, or your balance is negative, PayPal says you won't be charged a fee (even if you have a credit or debit card linked to the account).
You can avoid being charged by logging into your PayPal account (or making a transaction) on or before 15 December 2020, before the fee is introduced on 16 December 2020.