During the impacts of COVID-19, PayPal are committed to helping their customers during these challenging times. Along with the below, PayPal are evaluating additional ways to assist impacted customers and are focusing on providing access to tools, products and financing, on which its small businesses rely.
- Fees to instantly withdraw money from a PayPal business account to a bank account, Mastercard® Debit or Visa® Debit card are being waived through to May 31st 2020.
Transfers usually take minutes however can vary by bank, debit card transfers may take up to 30 minutes.
- Fees on chargebacks that are processed between March 26th and April 30th 2020 are also being waived.
- The customer dispute resolution period (the timeframe a merchant must respond to a customer dispute within) has been extended from 10 days to 20 days through to May 31st 2020.
- They have also extended seller protection, to cover eligible purchases of intangible goods, starting on April 13th 2020 (with no expiration). Seller Protection limits apply.
- Finally, in partnership with Mastercard, cashback rewards are being doubled on all purchase transactions with the PayPal Business Debit Mastercard beginning April 1 until April 30, 2020.
PayPal is continuing to monitor the COVID-19 situation and while most policies are in effect until at least May 31st, 2020, policies may be extended as necessary in the best interests of businesses. You can find more information in PayPal’s Newsroom and on the PayPal Relief Benefits Page. You can reach PayPal through the help centre in your business account.
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