PayPal protects you from unauthorized activities in your PayPal account. If this protection applies, you PayPal covers the entirety of the unauthorized activity as long as you work with us and follow the procedures described below. PayPal has been authorised by Negara Malaysia Bank for the operation of an electronic money business. Therefore, if you are a Malaysian customer and you PayPal not a quick and effective response to the services provided by PayPal depending on your use of the dispute resolution procedure in accordance with PayPal clause of this user agreement or contact with PayPal customer support, you can also contact Negara Bank via BNMLINK and BNMTELELINK. If you receive a payment, you are required to PayPal the full amount of the payment that was sent to you, plus any fees, if the payment is cancelled later or for some reason. If the buyer has paid in another currency, the total amount of that payment in that currency can be calculated using the exchange rate PayPal of transaction (including our currency exchange spread) applicable at the time of processing the refund or cancellation. If the balance of your cash or transaction account PayPal account does not cover the amount of payment due plus fees, we may use one of the payment methods related to your PayPal account to cover the amount owed. If the payment methods associated with your PayPal account do not cover the amount owed, the result is a negative balance. A negative balance is an amount you owe us, and in this situation, you must immediately add funds to your balance to resolve it. If you do not, PayPal: for reasons of clarity, the term “PayPal account” does not refer to a bank account PayPal is not a bank in India and the PayPal services offered in India are not value-stored services.
PayPal does not have a bank licence under the Banking Regulation Act of 1949 and is not a provider of payment systems under the Payment Systems Act 2007. PayPal not: if you offer the payer (instead of PayPal) a currency conversion of an amount that you will receive via PayPal, inform the buyer of the exchange rate and all costs related to the payment transaction.