PayPal has just updated its acceptable use policy which includes the ability to liquidate damages of $2500 per violation that a business linked to a PayPal account commits. The new user policy will go into effect on 3rd November 2022.
PayPal $2500 debit for damages
As per the new PayPal policy, $2,500 will be debited from your PayPal account if it is found to be in breach of the acceptable use policy. This includes your account being in violation of any law, sells prohibited products, promotes hate, e.t.c
PayPal also requires preapproval if your business engages in the following activities: Transportation, charities, payment facilitator, investments, gaming, cryptocurrency, live streaming, filesharing, multi-level marketing, marketplaces, etc.
To learn more about the fine, download a pdf of the new Paypal user policy.
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