Today I received an email linking to <removed>
It seems like they are saying that if I want to maintain a balance in Paypal, like I have for years, that starting March 29, 2019 I can no longer do it the way I have been used to due to some new regulations.
I like to keep a small balance in Paypal so that when I make a $5 eBay purchase I don't have to deal with all these small charges on my credit card, then when it is empty a can just load another $100 into it in a single transaction and I'm refueled for a while.
It seems like they are now offering two kinds of accounts, Paypal Cash and Paypal Cash Plus, to do the same thing, with the Plus account have a few more capabilities and fees.
It seems like they are saying that they will AUTOMATICALLY (if I take no action to terminate my current account) be opening a Cash Plus Account for me, and I will then be subject to the fees described in their Disclosure document, including among other things, a $4.95 fee to reload money into the account.
Am I interpreting their communication correctly? Besides the obvious reason of making additional profit from millions of unsuspecting current customers, why am I not being offered / converted to the regular "Cash Account" that appears to have zero fees and functions like my current "Paypal balance"?
Am I understanding this? Why is the "Paypal Cash" account not the default? Do I have the option to convert to "Paypal Cash" instead of "Paypal Cash plus" and if yes, how so?
Thanks.
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