New PayPal Policy Updates

agree to arbitration unless opt-out

[LifeinAsia]

Just got an e-mail from PayPal with a notice of policy updates. I didn't see the update on their site yet, so I'm paraphrasing it here:
Unless you opt out, you will be required to use arbitration to settle any disputes with PayPal. You also will be prohibited from participating in any class action lawsuit against PayPal.

Of course, you can always opt-out. And I'm guessing that PayPal will cancel the accounts of anyone who opts out.

Yes another reason why I don't use payPal for payments.

[Leosghost]

That won't fly with the courts, in many of the jurisdictions that PayPal operate in..if they try to add it to the T&Cs for every country..They risk the EU at least, telling them to pack their tent, wrap ebay in it , and get out..and closing the accounts of those who don't "opt in" would get them into similar worlds of legal pain, with various member governments and the EU in general..here..

[oliondor]

Wish to Paypal to be hit badly sooner or later...

[dpd1]

Checking a little box on a website is one thing... Having it actually mean something significant in court is another.