PayPal introducing inactivity fee for Russian clients from Oct 7

MOSCOW. Sept 19 (Interfax) - PayPal will introduce an inactivity fee of 3,500 rubles or foreign currency equivalent for Russian clients from October 7, the American payments system said in a statement.

"We are charging a fee to service your account if you maintain a balance on your PayPal account in any currency. The fee applies to personal and corporate accounts. The fee is charged once a year from accounts with a positive balance that have been inactive for the past 12 months," it said.

If the account contains less than 3,500 then the remaining balance will be written off.

An inactive account means that the client has not logged into their account and has not used it to withdraw funds.

PayPal said in March 2022 that it was suspending operations in Russia due to the situation in Ukraine. The payment system also recommended that users withdraw funds from their wallets due to possible issues with servicing accounts going forward.