23/5/2008 - Paypals "Product Disclosure Statement" ( = sign your rights away)

Product Disclosure Statement

1. Issuer
   
   This Product Disclosure Statement ("PDS") is issued by PayPal Australia Pty. Limited ABN 93 111 195 389 ("PayPal") Australian financial services licence no 304962. PayPal is licensed by the Australian Prudential Regulation Authority as an authorised deposit-taking institution authorised to provide purchased payment facilities. PayPal is not licensed as a bank in Australia and does not provide banking services.
   
   
2. The purpose of this Product Disclosure Statement
   
   This PDS only applies to you if you receive it in Australia.
   
   The purpose of this PDS is to give you the information you require to make an informed decision about whether or not to register for and use the PayPal Service.
   
   The information in this PDS is current as at the date of this PDS but may change. Information about changes may be found by visiting PayPal's website at http://www.paypal.com.au. We will give you a paper copy of any changes free of charge on request.
   
   
3. About this Product Disclosure Statement
   
   The information in this PDS is not intended to constitute advice, nor is it a recommendation or an opinion that the PayPal Service is suitable for or takes into account, your specific objectives, financial situation or particular needs.
   
   
4. The PayPal Service
   
   The PayPal Service allows you securely, conveniently, and cost effectively send and receive payments.
   
   You can register to use the PayPal Service if you are an Australian resident with a valid email address and a valid credit card, debit card or bank account. The PayPal Service is available in many countries around the World. A full list of these countries is available by clicking on the "Learn more about PayPal Worldwide" link on the PayPal homepage.
   
   When you register to use the PayPal Service, we will open a PayPal account in your name ("PayPal Account").
   
   Using the PayPal Service, you can:
   
   
   • Send Payments. You may make payments using any credit balance in your PayPal Account or using funds from your Australian bank account ("Nominated Bank Account") or Visa or Mastercard debit or credit card ("Nominated Card Account") that you designate and register with PayPal;
     
     
   • Receive Payments. You may receive payments and transferred funds into your PayPal Account from other PayPal users; and
     
     
   • Withdraw Money from your PayPal Account. If you have money in your PayPal Account, then you may withdraw your money to your Nominated Bank Account.
     
     
   • Any money in your PayPal account will be pooled with money from other holders of PayPal Accounts and deposited by PayPal with a licensed bank. PayPal keeps a record of any money in your PayPal account.
   
   
   The PayPal Service can be accessed using a PC or a Web-enabled mobile phone and through the English language website operated at http://www.paypal.com.au.
   
   
5. Terms and Conditions
   
   If you register or use the Service, the User Agreement, this PDS and your application will form your agreement with us.
   
   The User Agreement (incorporated PayPal policies and agreements) is available online at http://www.paypal.com.au, or by clicking the "User Agreement" link located in the footer at the bottom of each page on the PayPal Website.
   
   Before using the PayPal Service you will need to read, agree with and accept the terms of the User Agreement and all of the policies which are incorporated in the User Agreement.
   
   
6. Opening a PayPal Account
   
   You can sign up for the PayPal Service by accessing PayPal's web page at http://www.paypal.com.au, clicking on the sign-up link and completing the online registration form.
   
   Your PayPal Account will become active as soon as you have validly completed the sign-up process. You will be subject to certain payment or transfer limits until you complete a further verification processes.
   
   
7. Types of Accounts
   
   There are three types of PayPal accounts:
   
   
   • Personal Account;
     
     
   • Premier Account; and
     
     
   • Business Account.
   
   
   
8. What are the differences in accounts?
   
   The three different types of PayPal Accounts have the following features:
   
   Personal Account
   
   
   • Send money for no fee (except for Multiple Currency Transactions and Mass Pay transactions)
     
     
   • Receive money:
     
     
     • for no fee if the funds are transferred from a PayPal Balance or a bank account; or
       
       
     • for a fee, from a credit or debit card.
       
       
   • Upgrade to a Premier Account at any time.
     
     
   • For personal use only.
     
     
   Premier Account
   
   
   • Send money for no fee (except for Multiple Currency Transactions and Mass Payments).
     
     
   • Receive payments for a fee.
     
     
   • Special tools for sellers.
     
     
   Business Account
   
   
   • Includes all features of a Premier account.
     
     
   • Hold the Business Account under a corporate or group name.
     
     
   • Give multiple employees or representatives the authority to access the Business Account, and set different transaction limits for each employee or representative.
     
     
     
9. Risks associated with using the PayPal Service
   
   Unauthorised transactions: There is a risk your PayPal Account may be compromised and subject to an account takeover, unauthorised transactions, or other type of fraudulent activity.
   
   
   • User liability for unauthorised transactions: If you report an unauthorised transaction to PayPal before the later of: (i) 60 days after the date PayPal first sends you email notice of the transaction that you claim is unauthorised, or (ii) 60 days after you otherwise become aware of unauthorised access to your account, PayPal will cover your losses from the transaction. If you do not report an unauthorised transaction to PayPal within the required period, you may be liable for the transaction.
     
     
   • Payment Reversals: If you receive a payment through the PayPal Service that is reversed for any reason, unless PayPal otherwise agrees or as determined under the Seller Protection Policy you will be liable to PayPal for the amount of the reversed transaction plus any fees incurred by PayPal as a result of the reversal. A payment may be subject to reversal if the sender of the payment:
     
     
     • files a chargeback with their credit card company;
       
       
     • reverses a payment made via a direct debit from their Bank Account;
       
       
     • pays with funds obtained improperly (such as a stolen credit card); or
       
       
     • files a successful Buyer Complaint against you.
     
     
     For more information on PayPal's policy in relation to unauthorised transactions and the Seller Protection Policy, please refer to the User Agreement and PayPal's Electronic Fund Transfer Rights and Error Resolution policy.
     
     
10. Account holds, freezing or closure: In certain circumstances, PayPal may limit your ability to send money or make transfers from your PayPal Account. This may occur for a variety of reasons including suspected fraud, sudden changes in the amount or number of transactions by you, if you abuse the PayPal Service or if you breach the User Agreement, Acceptable Use Policy, or any other policy or agreement to which you have entered into with PayPal related to the PayPal Services.
    
    
    • Linked or Associated Accounts: PayPal may place a hold on your PayPal Account that it reasonably believes is tied to another PayPal Account that is in violation of the User Agreement or has a negative balance.
      
      
    • Personal Account Use Violation: If PayPal forms the opinion that your Personal Account is being used in connection with a business we may suspend that account or require you to upgrade to a Premier Account or Business Account.
      
      
    • How to Release a Hold: If access to your PayPal Account has been limited by PayPal, PayPal will promptly investigate and attempt to resolve the issue. You may be required to provide information to PayPal as part of its investigation. If the investigation is resolved in your favour, PayPal will seek promptly to restore access to your PayPal Account. However, restoring access to your PayPal Account may take time and until it is restored you will not be able to use your PayPal Account to send, receive or withdraw funds. Please refer to the User Agreement and PayPal's Closing Accounts and Limiting Account Access policy for a detailed explanation of when PayPal can limit access to, or close, your PayPal account.
      
      
    • Payment Review. Payment Review is a process by which PayPal reviews certain potentially higher-risk transactions. If a payment is subject to Payment Review, PayPal will place a hold on the payment and provide notice to the seller to delay shipping the item. PayPal will conduct a review and either clear or reverse the payment. If the payment is cleared, PayPal will provide notice to the seller to ship the item. Otherwise, PayPal will reverse the payment and the funds will be returned to the buyer. PayPal will provide notices to you by email and/or in the Transaction History tab of your PayPal account.
      
      
    • eBay Transaction Holds. In the event PayPal determines to place a hold on a payment you receive for an eBay transaction, due to the reasonable belief there may be a risk associated with the transaction, it will show as “pending” in your PayPal Account. PayPal will release the eBay transaction hold after 21 days, unless you receive a dispute, claim, chargeback, or reversal on the transaction subject to the hold, in which case PayPal may hold the payment until the matter is resolved pursuant to this Agreement. PayPal may choose to release the hold earlier if the buyer leaves positive feedback on eBay or where PayPal is otherwise satisfied that the transaction has completed successfully.
      
      
    Unavailability of the PayPal Service: Whilst PayPal makes every attempt to ensure that the PayPal Service is available to users at all times, it is possible that the PayPal Service may be rendered temporarily unavailable to some or all users from time to time. This may be caused by factors outside PayPal's control (such as general internet connection issues), as well as by PayPal's system.
    
    
11. Key benefits
    
    Set out below are some of the key benefits of using the PayPal Service.
    
    
    • The PayPal Service globally allows users to send payments to users in over a hundred countries denominated in over 15 currencies.
      
      
    • You can use the PayPal Service to make secure online payments without revealing your credit card number, debit card number, or bank account number to a seller.
      
      
    • In some cases, it is free to make a payment through the PayPal Service.
      
      
    • The PayPal Service is customised for use on the eBay marketplace and is also easy to use with other online merchants who accept PayPal.
      
      
    • You do not pay a setup fee for a PayPal Account.
      
      
    • You do not pay any monthly account keeping fees for a PayPal Account.
      
      
    • PayPal has dedicated anti-fraud measures in place to help protect you against fraud and unauthorised use of your PayPal Account.
      
      
    • PayPal listens to your complaints about transactions and, in appropriate cases where our policies permit, it can reverse payments made through the PayPal Service.
    
    
    
12. Fees and Charges
    
    This Section sets out the fees and costs of using the PayPal Service.
    
    PayPal Personal Account Fees
    
    

    Domestic Transactions Multiple Currency Transactions Open an Account Free Free Payment or transfer to another PayPal Account Free Free, unless sender chooses to convert funds to alternative currency, then a 2.5% fee of the price at which PayPal obtains the currency*** Transfer funds to your Nominated Bank Account Free for $150.00 AUD or more, $1.00 AUD for $149.99 AUD or less to an Australian bank account. Free for $150.00 AUD or more, $1.00 AUD for $149.99 AUD or less Transfer funds from your Nominated Bank Account into your PayPal Account Free Free Receive funds from a PayPal Balance or Nominated Bank Account Free 2.5% fee of the price at which PayPal obtains the currency *** Receive funds from a Credit or Debit Card 3.4% + $0.30 AUD 4.4%+ Flat Fee**

    
    
    Premier and Business Account Fees
    
    

    Domestic Transactions Multiple Currency Transactions Open an Account Free Free Payment or transfer to another PayPal Account Free (except Mass Payments) Free, except Mass Payments and unless sender chooses to convert funds to alternative currency then a 2.5% fee of the price at which PayPal obtains the currency*** Sending Payments through Mass Payments 2% up to a maximum of $1.25 AUD per recipient**** 2% up to a maximum of $1.25 AUD per recipient**** Transfer funds from your PayPal Account to your Nominated Bank Account Free for $150 AUD or more, $1.00 AUD for $149.99 AUD or less to an Australian bank account. Free for $150 AUD or more, $1.00 AUD for $149.99 AUD or less to an Australian bank account. Add Funds to your PayPal Account Free Free Receive funds from PayPal Balance, Nominated Bank Account, Credit or Debit Card Between 1.1% + $0.30 AUD and 2.4% + $0.30 AUD (rate may vary based on transaction volume) Between 2.1% AUD and 3.4% AUD + Flat Fee** (rate may vary based on transaction volume)

    
    
    Note: For high volume use of a Premier Account or Business Account, PayPal may offer special pricing. To apply for special pricing, you must:
    
    
    • meet certain sales volumes on a monthly basis;
      
      
    • complete a one-time application;
      
      
    • be a PayPal Account holder in good standing for at least 90 days; and
      
      
    • undergo additional verification and risk reviews.
    
    
    Merchant Account Fees-Pre-Qualification required for these fees
    
    

    Standard Rate Merchant Rate Merchant Rate Merchant Rate Monthly Received Payment (AUD) $0.00 AUD - $5,000.00 AUD $5000.01 - $15,000.00 AUD $15,000.01 AUD - $150,000.00 AUD More than $150,000.0 AUD Fees for Domestic Transactions 2.4% + $.30 AUD 2.0% + $.30 AUD 1.5% + $.30 AUD 1.1% + $.30 AUD Fees For Multiple Currency Transaction*** 3.4% + Flat Fee** 3.0% + Flat Fee** 2.5% + Flat Fee 2.1% + Flat Fee

    
    
    *Credit Cards Personal Accounts are entitled to receive a maximum of 6 credit card or debit card funded payments per 12 month period. However, credit card and debit card payments that are sent through the Skype platform (initiated through your Skype account) are unlimited.
    
    **Flat fee for receipt of credit card or debit card transactions will be charged based upon currency in which a payment is received: $0.30 AUD, $0.30 USD, $0.30 CAD, €0.35 EUR, £0.20 GBP, ¥40 JPY, 0.55 CHF, 2.80 NOK, 3.25 SEK, 2.60 DKK, 1.35 PLN, 90 HUF, 10.00 CZK, $0.50 SGD, $2.85 HKD, $0.45 NZD, $4.00 MXN, 1.20 ILS.
    
    *** Multiple Currency Transactions: If your transaction involves a currency conversion, the rate that will apply to your transaction will be displayed by PayPal. This is the rate at which PayPal bought the currency, adjusted to reflect PayPal's 2.5% fee. The foreign exchange rate is adjusted regularly based on market conditions.
    
    **** Mass Payments permits Premier and Business Account holders to send simultaneous payments to a number of recipients through a single process.
    
    Fee Calculation Examples:
    
    
    • Example 1
      
      The following is an example of the fee payable by the holder of a Personal Account, Premier Account or Business Account for a Multiple Currency Transaction. This is an illustration only and each calculation will vary depending on the circumstances of the transaction.
      
      Let's assume that:
      
      
      • a PayPal Account holder wishes to send $100 United States dollars ("USD");
        
        
      • the account holder does not hold a USD PayPal Balance in his or her PayPal Account; and
        
        
      • the account holder's funding source is denominated in Australian dollars ("AUD").
      
      Upon recognising a USD denominated payment, the PayPal system will show the account holder the foreign currency amount that applies to the transaction - the price paid by PayPal including PayPal's 2.5% fee.
      
      If the price at which PayPal obtains USD is $1 AUD for 0.7472 USD, the rate applied to the account holder will be 0.7285 USD. (0.7285 USD is 0.7472 less PayPal's 2.5% fee.) Once the account holder confirms the transaction, the amount of $137.27 will be charged to the account holder equalling AUD $133.83 the AUD equivalent of $100 USD, plus PayPal's fee of AUD $3.44.
      
      
    • Example 2
      
      The following is an example of the fee payable by the holder of a Premier Account or Business Account under the Standard Rate for receiving $100.00 AUD from a buyer in Australia. This is an illustration only and each calculation will vary depending on the circumstances of the transaction.
      
      The fee payable to PayPal by the seller would be $2.70 AUD comprised of a $0.30 AUD flat fee + $2.40 AUD (being 2.4% of $100 AUD).
      
      
    • Example 3
      
      The following is an example of the fee payable by the holder of a Premier Account or Business Account under the Standard Rate for receiving $100 AUD from a buyer outside of Australia. This is an illustration only and each calculation will vary depending on the circumstances of the transaction.
      
      The fee payable to PayPal by the seller would be $3.70 AUD comprised of a flat fee of $0.30 AUD + $3.40 AUD (being 3.4% of $100 AUD).
      
      
    Additional Fees
    
    In addition to the fees shown above, your PayPal Account may be subject to fees based upon your account activity.
    
    
    1. Chargeback fees: A chargeback occurs when you are the seller and a buyer asks a credit card or debit card company to reverse a transaction that has already cleared. In these cases, the chargeback fee will apply even if the credit card or debit card company denies the buyer's chargeback request, unless the reversal is eligible under the PayPal Seller Protection Policy. If the chargeback request is granted, the amount of the reversed transaction is deducted from your PayPal Account in addition to the chargeback fee. PayPal charges a fixed fee of $15.00 AUD (or the fee set forth below based upon the currency of the original payment) chargeback fee to the seller. The equivalent chargeback fees are:
       
       

       Payment Currency Chargeback Fee CAD $15.00 CAD EUR €11.25 EUR USD $10.00 USD GBP £7.00 GBP JPY ¥1,300 JPY AUD $15.00 AUD CHF 10 CHF NOK 65 NOK SEK 80 SEK DKK 60 DKK PLN 30 PLN HUF 2,000 HUF CZK 250 CZK SGD 15 SGD HKD 75 HKD NZD 15 NZD ILS 40 ILS MXN 110 MXN

       
       
       
    2. Third Party Direct debit reversal fees: If you do not have sufficient funds in your Nominated Bank Account to enable drawings you have requested to be made this may result in a drawing being reversed. In these circumstances you may be charged a dishonour or reversal fee by your bank or financial institution. PayPal does not charge you this fee.
       
       
    3. Return Fee on Withdrawal: If you attempt to transfer funds from your PayPal account to a bank account and the transfer fails because you provided PayPal with incorrect bank account details, PayPal will charge you a fee of $20.00 AUD.
       
       
    4. Expanded Use Fee: In special circumstances we may also request a credit card or debit card be put on file for verification or if you have a credit card or debit card on file, we may charge a small fee. This fee will be billed to your linked credit or debit card and will be credited to your PayPal account after you complete a transaction. For security reasons this Fee may not be disclosed expressly at the time it is made, but will not be more then $2.00 AUD.
       
       
13. Verification & Account Limits
    
    PayPal places limits on the amount you can send and transfer through the PayPal Service.
    
    Maximum amount per transaction
    To help protect the integrity of PayPal's payment system, limit the risk of money laundering and terrorist financing, and prevent fraud, most customers are restricted to a maximum dollar amount for any single transaction of$10,000.00 USD (or equivalent). This limit may be raised in PayPal’s sole discretion by account holders providing additional verification documentation.
    
    Unverified accounts
    Unverified PayPal Accounts have a lower limit imposed on the cumulative total value of payments account holders can make, as well as a lower limit on the monthly cumulative value of transfers a user can make from their PayPal Account. The amount of these limits are variable and set at PayPal's discretion. You can check your limits by logging in to your PayPal Account and clicking on the "View Limits" link. To increase these limits you will need to verify your PayPal Account.
    
    Verified accounts
    We verify PayPal Accounts with the aim of safeguarding your security, limiting fraud, and preventing money laundering. When a PayPal account holder receives "verified" status it signifies the holder has passed a series of security checks carried out by PayPal; however, PayPal does not guarantee the identity of any PayPal user or ensure that a buyer or a seller will complete a transaction.
    
    Verified users will generally have their limits increased on the cumulative total of payments, and on transfers.
    
    To verify your account you will need to:
    
    
    • Add a bank account by clicking on "Set up bank funding" on the left hand side of the Account Overview page. When prompted, enter your bank details and review our Bank Funding Agreement.
      
      
    • Confirm your Nominated Bank Account - PayPal will deposit two small amounts into your Nominated Bank Account. When you receive your next bank statement, make a note of these amounts, then log in to your PayPal Account and tell us what these two amounts are.
      
      
    PayPal may also request a Street Address Confirmation from you. In this case, PayPal will mail a six-digit PIN to your home address. You will be prompted to enter the PIN when you next log in to your PayPal Account.
    
    When you have completed these steps, your PayPal Account will be verified and you can continue sending PayPal payments funded through your Nominated Bank Account, credit card, or debit card.
    
    PayPal reserves the right to control sending and transfer limits and require additional information from you depending on your location, credit rating, and other factors.
    
    Transfer limits
    PayPal also places limits on the amount you can withdraw to your local bank account. Generally, before you can withdraw more than $700.00 AUD per month, we need you to verify your PayPal account as detailed above. We require this information to authenticate your identity and to determine how much you may withdraw from your account per month.
    
    We may limit withdrawals and require additional information from you depending upon your location, credit rating, and other factors.
    
    
14. Third Party Credit or Debit Card fees
    
    When you use your Credit or Debit Card to fund a purchase you will be subject to the usual fees and interest, if any, charged by your Credit or Debit Card provider. These fees are not charged by PayPal.
    
    
15. Dispute Resolution
    
    PayPal is committed to dealing with customer complaints fairly and resolving issues in a timely manner in accordance with its procedures for the handling of complaints.
    
    Complaints will be dealt with primarily by PayPal's Customer Service Centre in Omaha, Nebraska, USA.
    
    
16. Submitting a complaint
    
    If you have a complaint about a seller or a buyer, you should file a claim through the Security Centre on the PayPal website. If you have a complaint about the PayPal Service, or believe that your PayPal Account may be subject to an unauthorised transaction, account takeover or other type of fraudulent activity, you should contact us immediately.
    
    You can report complaints about the PayPal Service by:
    
    
    • Email: You can submit a complaint by email directly from PayPal's website by clicking the "Contact Us" link in the footer at the bottom of every PayPal page, or click the "Help" link on the upper right corner of every PayPal page.
      
      
    • Telephone: For Personal Accounts, you can call 02 8223 9500 and for a Business Account or a Premier Account, call 1800 073 263. This will connect you through to the main PayPal Customer Support Centre in Omaha, Nebraska, USA. Hours of operation for Australian users are Monday to Thursday 8:00 am - 6:30 pm, and Friday and Saturday from 8:00 am - 4:00 pm AEST.
      
      
    • Mail: You can submit complaints by mailing them to Locked Bag 10, Australia Square Post Office, Sydney New South Wales 1215.
      
      
17. Handling your complaints
    
    PayPal's policy is to confirm receipt of a complaint from an Australian user within 10 business days and to propose a resolution of the complaint. Although every effort is made to do so, in some instances it will not be possible to resolve your complaint within this time frame.
    
    We endeavour to resolve all complaints within a maximum time frame of 45 days. This may not be possible in circumstances where we require further time to conduct our investigation, for example, where information is being sought from a relevant credit card issuer. In instances where we cannot resolve a User's complaint within 10 business days we will send the User an email notifying them of the delay and the reason for the delay as well as an indication of when we expect to be able to respond.
    
    If a complaint relates to the limiting of a PayPal Account, we will request the necessary verification details from the User, and where appropriate, lift the limitation on the PayPal Account as quickly as possible. For more information in this regard, please refer to PayPal's Closing Account and Limiting Account Access Policy.
    
    
18. Referral of unresolved complaints to external dispute resolution scheme
    
    PayPal is a member of the Banking and Financial Services Ombudsman, an independent external dispute resolution scheme covering PayPal's Australian Customers. For more information on the Banking and Financial Services Ombudsman you can consult their website at www.bfso.org.au.
    
    If you are not satisfied with PayPal's resolution or handling of your dispute you may wish to contact the Banking and Financial Services Ombudsman:
    
    
    • Phone: 1300 780 808
      
      
    • Mail:
      Banking and Financial Services Ombudsman
      GPO Box 3A
      MELBOURNE VIC 3001
      
      
    • Fax: (03) 9613 7345
      
    
    
    For more information about how to submit a complaint and how PayPal deals with complaints, please refer to the User Agreement, the Electronic Fund Transfer Rights and Error Resolution Policy and the Buyer Complaint Policy.
    
    
19. Additional Information and Contact Details
    
    For more information on the PayPal Service, visit PayPal's website at http://www.paypal.com.au.
    
    PayPal's contact details are as follows:
    
    PayPal Australia Pty. Limited ABN 93 111 195 389
    Locked Bag 10
    Australia Square PO
    Sydney
    NSW 1215
    
    Phone: (02) 8223 9500
    Fax: (02) 8288 0001
    Email: service@paypal.com.au
    
    
    
20. Documents Incorporated by Reference. The User Agreement and its underlying policies which are documents referred to in this PDS but not provided in full detail are available free of charge on request and are also available by clicking directly on the links in this PDS.
    
    The User Agreement is a contract between Users and PayPal and governs the use of the PayPal Payment Service. PayPal's legal relationship with each User is governed by the User Agreement, this PDS and the PayPal policies, which are available on PayPal's website, including the Privacy Policy; Closing Accounts and Limiting Account Access Policy; Electronic Funds Transfer Rights and Error Resolution Policy; Buyer Complaint Policy; Buyer Protection Policy; Payments (Sending, Receiving and/or Withdrawing) Policy; Premier and Business Account Policy; Fees Policy; Acceptable Use Policy; Bonus Policy; Pre-Approved Payments Policy; and Merchant Gift Certificates Policy.
    
    You should access and read the information contained in the User Agreement and PayPal's policies, as they contain further terms and conditions that may apply to you as a user of the PayPal Payment Service.
    
    Amongst other things, the User Agreement describes the legal relationship between each User and PayPal; PayPal Account verification procedures; each User's liability for violations of PayPal's acceptable use policy; sets out the procedures for terminating or closing your PayPal Account; sets out PayPal's rights, if, for example, a user breaches the User Agreement or the applicable PayPal policies, PayPal is unable to verify or authenticate any information provided by a User, PayPal believes that an account or a User's activities pose significant credit or fraud risk or PayPal believes that a User's actions may cause financial loss or legal liability to PayPal or its Users.
    
    
21. Definitions
    
    In this PDS, the following words have the meaning shown:
    
    ''Domestic Transaction'': A transaction where the sender and receiver are both in Australia and the transaction is also denominated in Australian dollars.
    
    ''Multiple Currency Transaction'': A multiple currency transaction is a transaction in which the currency denomination of the source of funds transferred is different to that in the destination account.
    
    ''PayPal'',''we'' or ''our'': PayPal Australia Pty. Limited ABN 93 111 195 389;
    
    ''PayPal Service'': The online payment service and any related product and services provided by PayPal to Users in accordance with the User Agreement and various PayPal policies.
    
    ''User'': A user of the PayPal Service.
    
    ''User Agreement'': The User Agreement governing the use of the PayPal Service, which is available online at https://www.paypal.com.au/ua.
    
    ''You'' or ''your'': Each person who receives this PDS in Australia or uses the PayPal Service in accordance with the User Agreement and applicable PayPal policies.