Notice of updates to the User Agreement

[megri]

We’ve made some updates to the following agreements and policies: User Agreement
These changes will be effective as of 26 February 2014.

Who do the changes affect?
The latest changes to our User Agreement will mainly affect users who issue refunds on
Commercial Transaction payments and users who receive eChecks*. You have been identified
as a Merchant who has some related activity in the past 12 months.

What are they?
The main changes to our agreement and policies relate to the following fees:
We will start to retain the fixed fee portion** of the Commercial Transaction fee (usually USD
0.30), and
We will be increasing the cap for receiving eCheck payments based on payment currency from USD 5 to USD 45 equivalent.

Where can I see the details?
The full details of our policy updates are published on our website. To stay safe from phishing, we recommend you always type our URL into your browser address bar instead of clicking links in emails.

Visit the PayPal site by typing www.paypal.com into your browser address bar. Click Legal at
the bottom of the page and then Policy Updates.

What if I have questions?
If you have questions, you might find the answer in our Help Centre. Alternatively, you can call
or email us by visiting the PayPal site and clicking Contact.

Sincerely,
PayPal