WARNING - 5 days left to OPT OUT of PAYPAL'S INTERNAL ARBITRATION

[karisu_sama]

REPOSTED FROM: http://it.nicksimmonds.com/2012/10/paypal-pushing-users-into-binding.html?m=1

Paypal pushing users into binding arbitration

"You probably just received a notice from Paypal, and you probably didn't read it. That's okay, I do

Comments

[eleryth]

I guess I should add this to the "Do this asap list"... and maybe go back and review my emails to find out how I missed it.

[eleryth]

Didn't necessarily go through emails, but found it on their website.

Section 14.3 says you can still go to court (small claims) if it qualifies; the arbitration is conducted by members of the American Arbitrator's Association; it can be conducted in one's country of residence; if it's less than $10K id discussion, you can request Paypal to pay the arbitration fees (but if deemed frivolous they'll bill you back for the funds... I have yet to read the Arbitrator's Act. But it sounds like it's going to be determined by a 3rd party, not internal Paypal.

From what I can tell, it prevents one from joining class-action lawsuits and only going after relief on an individual basis. I do not, however, know if "individual basis" means only as individuals, or if people who have businesses and use paypal count (which may be many) can do so on behalf of their business.

I used this thread for reference reading

[didjiman]

Send the letter. It does not hurt you, and it sends those jokers a message.

[reddheart]

I got that notice, and what I got out of it is that if you don't agree to things, you basically need to shut down your account. Unless this is some OTHER thing.

[karisu_sama]

This is not about shutting down your account, it's about letting Paypal remove your rights; see R.'s answer below:

[didjiman]

Here's the important parts: Unless you opt out: (1) you will only be permitted to pursue claims against PayPal on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.

Meaning that if paypla fucks everyone over, each one of us will have to sue them individually, instead of having a class action suit. Yes, we know a class action suit usually benefits the lawyers the most, but you do not want your options limited.