Paypal to charge customers for inactive accounts

The new fee will be introduced from 16 December. Credit: Getty.
The new fee will be introduced from 16 December. Photo: Getty.

PayPal (PYPL) is set to charge customers up to £12 ($16) a year if they do not use their accounts.

The inactive account fee will begin on 16 December 2020 and customers will be charged if they have not logged in or sent, received or withdrawn money for at least 12 consecutive months.

But customers can avoid being charged by logging into their PayPal account or making a transaction on or before 15 December.

Moneysavingexpert founder Martin Lewis warned customers of the new charge in a tweet yesterday.

He said: “Paypal users warning. It is going to introduce a £12 inactivity fee.”

His team have put together a guide on how the charge works and how to avoid it.

If an account has been inactive for more than a year then the account holder will be charged £12 or their entire PayPal balance, if it is less than £12.

If there is no money in the Paypal account or the balance is negative there will be no charge.

Watch: PayPal Has Focused on Pay Parity, Equality, EVP Says

PayPal said it will warn inactive customers of the pending fee by sending notifications 60 days, 30 days and then seven days before the fee is set to be charged.

The online payment company said it had no plans to close inactive accounts with no balances. 

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Moneysavingexpert advises customers to login to their account before the deadline to avoid the charge or to close their account altogether. An

‘Banks Never Ask That’ quiz helps customers outsmart scammers

Will a bank ever ask you to verify your birthday and social security number? No! A banking quiz seeks to help customers outsmart scammers.

Think you could spot a banking scam? Don’t be so sure.

Many people are falling for fake phone calls, texts, and emails that appear to come from their bank. Thousands of bank customers have lost millions of dollars to banking scams, so now the nation’s banks are rolling out a new tool to help you spot a scam.

Questions like “did you get good grades in school?” or “have a professional job?” are examples of tricks bank customers have fallen prey to.

“I got a phone call from my bank, and I knew it was my bank because I recognized their phone number,” victim Sarah Robb said.

However, it wasn’t really her bank. It was a scammer who drained Sarah’s checking account within minutes.

In recent months, Corinthia fell for a slick email claiming a problem with her account.

“It began with an email to me, and it said $499 was going to be withdrawn from my account,” Corinthia said.

But it was really a phishing scam and before Corinthia knew it, she was out $1,600.

The American Bankers Association wants to stop this growing fraud.

Next time you get onto your bank’s website or check their phone app, look for a little button that says, “would your bank really ask that?” It will take you to a quiz, and some of those questions just might stump you.

RELATED: IRS sending out letters: About one in three people will get a request for personal information

RELATED: Jury duty scammer pretended to be a deputy to lure family out of home, family says

The Banks Never Ask That website tests if you can outsmart online scammers.

For

T-Mobile Expands Rural 4G LTE Home Internet Coverage After AT&T Leaves DSL Customers Hanging

tmobile drones

Earlier this month, AT&T made its plans know that it would no longer be accepting new DSL service connections, which is the only way that many rural Americans can access broadband internet – that is if you really want to classify AT&T’s 6Mbps DSL as broadband. “We’re beginning to phase out outdated services like DSL and new orders for the service will no longer be supported after October 1,” said AT&T in a statement last week.

“Current DSL customers will be able to continue their existing service or where possible upgrade to our 100% fiber network.”

Given that fiber access in rural parts of the country as rare as hen’s teeth, we know how this is going to turn out for customers: badly. Never one to miss an opportunity to punch a competitor when the opportunity presents, T-Mobile has announced that it will offer its 4G LTE Home Internet service in more than 450 cities and towns across the United States, many of which are considered to be in rural areas. 

“We can’t stand idly by while AT&T leaves potentially millions with fewer home Internet options at a time when our connection to the Internet is so vital — for work, remote school, connection with family and friends. That’s why we’re undertaking this massive expansion,” said T-Mobile CEO Mike Sievert. “The Carriers and the Cableopoly have consistently over-promised and under-delivered when it comes to broadband access.”

Naturally, T-Mobile is touting its recent merger with Sprint as giving it the footprint to be able to expands its Home Internet service to more customers. In addition, T-Mobile called out AT&T’s decision to not allow new DSL signup as especially egregious considering that 61 percent of rural Americans don’t have any other choice with regards to home broadband connectivity. 

Despite its

Eero partners with internet providers to sell its routers to customers

Eero is moving beyond consumers and partnering with internet service providers. The Amazon-owned router company has announced Eero for Service Providers, an offering that includes hardware and software tools for ISPs. It will be available in the US and Canada starting in November, with more features coming in December and throughout 2021. Eero says it’s offering the tools at “attractive price points.”

The platform includes three components at launch. One is Eero Insight, which collects usage data to help ISPs foresee customers’ Wi-Fi issues and address them early. The company estimates that the tool will provide technicians “up to an estimated 30 percent reduction in time spent resolving Wi-Fi issues.”

The second is Eero Secure, a subscription service that can be deployed with the company’s mesh Wi-Fi systems. Customers can use it to block attacks like malware, spyware, and phishing. It also includes parental controls. And Eero is also offering its Eero 6 Mesh Wi-Fi system to ISPs, which supports Wi-Fi 6 and includes a built-in Zigbee smart home hub. The company says that users will be able to manage their internet experience with an “ISP co-branded mobile app” — they can pause their internet service and share it with guests.

Eero isn’t the first manufacturer to release products like this. Comcast’s xFi internet platform also includes a subscription security service that blocks suspicious activity and quarantines devices. (Disclosure: Comcast is an investor in Vox Media, The Verge’s parent company.)

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Basware Updates Developer Website, Bolsters API Library to Enable Faster and Easier Integration for Partners and Customers

Basware (Nasdaq: BAS1V) has launched an updated developer website, which contains all Basware APIs – P2P and Network – in one site. From invoice sending and receiving to master data imports and invoice transfer, the enhanced site documents 20+ APIs so that customers, developers, partners and third-party system integrators can develop integrations faster and with less effort.

“We believe open APIs form a foundation for building a holistic ecosystem,” says Dr. Matt Lees, Director, Platform Solutions at Basware. “API usage has been growing steadily and we see that our customers are starting to adopt APIs at an increasing speed. Basware offers flexibility by providing several integration methods as well as integration services and in-house delivery competencies. We will continue to expand the capabilities of our APIs and introduce more process APIs and some self-serving capabilities, such as a monitoring API, in the future.”

Easily accessible via a web browser, and always up to date, the developer website will feature the following:

  • API selection guide to help understand which APIs are needed for specific business scenarios

  • Full API manuals with detailed information on usage scenarios, common considerations, and fair use practices

  • API reference guide providing detailed field level information about Basware API

  • Practical examples that work “out of the box” for the most common scenarios

  • FAQ to get help with the most common questions

To learn more, read Integrate with Open APIs to Build a Business Ecosystem.

About Basware:

Basware is the only procure-to-pay and e-invoicing solution provider that empowers businesses with 100% spend visibility through 100% supplier connectivity and 100% data capture. Our cloud-based technology enables organizations to fully manage their spend, mitigate financial risk and reduce the cost of operations via automation. With the world’s largest open business network and an open technology ecosystem, we are uniquely positioned to