PayPal currency exchange class action settlement

[ypdc_dennis]

Lawyers got the big share, average payout was around $1.85 per person.

The class action alleged that PayPal charged users more for currency conversions than it was entitled to under PayPal's user agreements between January 2017 and August 2018.

Paypal Class Action Settlement for persons resident in Canada, who:

(1) purchased goods or services using the payments system of PayPal in a currency other than the currency in which the goods or services were offered for sale, and who made such a purchase on or before August 8, 2018; or
(2) held an account with PayPal in Canada and who withdrew funds from their account that were converted to Canadian dollars before being transferred to the person’s linked bank account or credit card on or before August 8, 2018.

Settlement payments were made in June to qualified persons with active paypal accounts.

My $1.95 showed up in my paypal account June 9.

-!-

[pjcdn2005 · Accepted solution]

Big payout lol.   Did you know that you were part of the suit or did they automatically include you?

[lotzofuniquegoodies]

@ypdc_dennis 

Sorry. Have to ask. Was the payment sent in US or Canadian funds and if in Cdn how was the exchange rate? 🙂

-Lotz

[ypdc_dennis]

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@pjcdn2005 wrote:

Big payout lol.   Did you know that you were part of the suit or did they automatically include you?

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I was unaware of the class action and suprised to see it in PayPal (since MP I have not checked my account very often).

Google research showed a list of additional requirements to be included in the "active class" for the automatic payout.

[ypdc_dennis]

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@lotzofuniquegoodies wrote:

Sorry. Have to ask. Was the payment sent in US or Canadian funds and if in Cdn how was the exchange rate? 🙂

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This was a Canadian class action -- payout in Canadian $

[pjcdn2005]

I don't see anything in my Paypal account so I guess that I don't qualify for the big bucks!

[mrdutch1001]

Got the $1.95 CAD "PayPal transfer" in both my PayPal accounts ... not sure what I am going to do with that windfall LOL!

[hlmacdon]

Haven't seen that one yet but did get a $308 USD credit from them last year citing incorrect exchange rates.