One month left to claim PayPal Class Action Settlement

Has your PayPal account been improperly limited, closed, or suspended by PayPal for disputed transactions? If yes, you might potentially get basic compensation ranging from $3 to $440.

 

At the beginning of the 2016, the lawsuit against PayPal for improper holds, reserves and suspension of PayPal accounts, is finally settled. The company agreed to pay $3,200,000 into a Settlement Fund, and some PayPal users could claim for payment.

 

Am I eligible to claim?

To qualify for payment, you must meet the following requirements:

  1. Make sure you are a current or former user of PayPal in U.S. who had an active PayPal account between April 19, 2006 and November 5, 2015.
  2. Also you had a hold or reserve placed on the account and/or the account was closed or suspended by PayPal.
  3. You are not the judicial officers presiding over this action and the members of their immediate families and judicial staff.

 

How to claim?

If you are eligible and have not received any class notice before, it still has one month left for you to claim until October 14, 2016. You can go to the official website, Zepeda v. PayPal Settlement, to submit a claim form. The rest is just waiting, because the Court will hold a hearing on December 14, 2016 to decide whether to approve the settlement.

 

How much can you get?

Your basic payment is based on the length and amount of the hold or reserve. It can be estimated to range from $3 to $440, and you can check details as below.

 

Length of
Hold/Reserve
Hold/Reserve
under $1,000
Hold/Reserve
$1,000 to $10,000
Hold/Reserve
over $10,000
1–30 days $3.00 $3.00 $36.00
31–90 days $3.00 $5.00 $150.00
91–150 days $3.00 $10.00 $100.00
Over 150 days $14.00 $25.00 $440.00

 

You can also go to Zepeda v. PayPal Settlement’s FAQ page for more information.

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