Right of revocation
Last Update: 11 February 2022
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For new PayPal account holders who are consumers:
Right of revocation
You may revoke (or cancel) your agreement with PayPal within 14 days of opening your PayPal account without giving reasons and without penalty. This will close your account with us too. The 14 days start when you sign up for your PayPal account which is when you received PayPal’s general terms and conditions. To cancel your agreement with PayPal and close your account you can follow the process described in the section “Closing your PayPal account” in the User Agreement or you can send a written statement that you wish to exercise your withdrawal right and close your account to: PayPal (Europe) S.à r.l. et Cie, S.C.A., 22-24 Boulevard Royal, L-2449 Luxembourg; or by email to: enquiry@paypal.com; or by fax to: +352 26639250.
Consequences of revocation
Upon revocation, you and we must, if applicable, return what we each received under the contract. You are, however, required to pay compensation for the value of the service provided until the time of revocation if this was indicated to you prior to your entering into the contract with us and you give your express consent that our service should be provided before the end of the revocation period. If an obligation exists to pay compensation for value, this means that you still have to fulfil the contractual payment obligations for the period up until the time of revocation. Your right of revocation expires prematurely if the contract has been performed in full by both parties at your express request before you exercised your right of revocation. Re-payments must be made within 30 days. This period starts for you with the sending of your statement of revocation and for us with the receipt of your statement of revocation.
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For existing PayPal account holders who are consumers:
In subsequent compliance with our legal obligations, we inform you that you can still cancel (or revoke) your acceptance of your agreement with PayPal, without giving reasons and within 14 days of receipt of this notification. To do so you can follow the process described in the section “Closing your PayPal account” in the User Agreement or you can send a written statement by post to: PayPal (Europe) S.à r.l. et Cie, S.C.A., 22-24 Boulevard Royal, L-2449 Luxembourg; or email to: enquiry@paypal.com; or fax to: +352 26639250.
Consequences of revocation
Upon revocation, you and we must, if applicable, return what we each received under the contract. You are required to pay compensation for the value of the service provided until the time of revocation if this was indicated to you prior to your entering into the contract with us and you give your express consent that our service should be provided before the end of the revocation period. If an obligation exists to pay compensation for value, this means that you still have to fulfil the contractual payment obligations for the period up until the time of revocation. Your right of revocation expires prematurely if the contract has been performed in full by both parties at your express request before you exercised your right of revocation. Any re-payments must be made within 30 days. This period starts for you with the sending of your statement of revocation and for us with the receipt of your statement of revocation