PayPal to Impose Service Extension Fee for Inactive Accounts of Russian Users

The American electronic payment system PayPal will impose a service extension fee for inactive accounts of users from Russia starting October 7, as noted in the service's announcement, reported by РБК.

"We are establishing a service extension fee to maintain your account if you have a balance in any currency on your PayPal account. This fee applies to both personal and business accounts," states a special notice posted on PayPal's website.

It is mentioned that the fee will be charged once a year for accounts with a positive balance that have not been active in the past 12 months. The fee will amount to three and a half thousand rubles or an equivalent amount in another currency, according to РБК.

If the account balance is less than the fee, the system will withdraw the entire remaining balance. Users who do not agree with the new rules must close their accounts before the changes take effect.