Legacy PayPal Terms
Last Updated: 6/18/2013
- If you are a nonprofit using a standard PayPal account to raise money through the Website, you appoint us as your agent for the limited purpose of collecting and periodically remitting the money you raise through the Website to you; we accept this appointment. The scope of this agency relationship is expressly limited to the collection and remittance of the money you raise through the Website.
- We will hold the money you raise through the Website in an account kept separate from our general business funds. You will remain an equitable titleholder to the funds we collect on your behalf. We will remit funds collected on your behalf, less our fees, on the first and sixteenth of each month. Payments are offset by one payment cycle (to allow for refunds or chargebacks) as follows:
1st-15th of the Month
1st Day of the Following Month
16th-31st of the Month
16th Day of the Following Month
- You will be able to access reports from your account on the Website which detail each contribution you’ve received through the Website, the fee applicable to that transaction, and any chargebacks which have been initiated against you. You will also be able to view an “Account Statement” which summarizes the amount you are scheduled to receive from us for a given payment period and what fees apply for that payment period. You will be able to export these reports in various common file formats.
- You agree to bear sole responsibility for any chargebacks, refunds, or reversals which may occur as a result of your use of the Website (including derivative use by your supporters). You agree that we have the authority to issue refunds and settle chargebacks on your behalf using the funds we are holding for you. Chargeback disputes resolved in favor of the initiating cardholder will result in a fee of $20 (on top of the returned funds), which you will be responsible for. We reserve the right to require that you maintain a reserve balance in your account to protect against chargebacks, reversals, refunds, and fees. If we require a reserve balance, we will reasonably determine the amount and duration of the reserve balance. If at any time your account has insufficient funds to cover the liabilities you have incurred, then you agree to promptly pay us by other means.