On this date 1 November 2024, which is today. Not even an hour in today I received this email from PayPal. Important: Suspension of your UK Account(s) PayPal services are provided in the UK by PayPal UK Ltd from 1 November following PayPal UK Ltd becoming duly authorised to conduct its regulated activities in the United Kingdom by the Financial Conduct Authority. One of the conditions of PayPal UK Ltd’s authorisations is that the provision of regulated products and services for a very limited number of existing UK account holders will be prohibited from 1 November 2023 until further regulatory requirements are met. The PayPal branded (wallet) products and services that we provide to you in respect of the UK via your PayPal UK business account(s) fall within this category of prohibited services. We are hereby informing you that we will have to suspend our services to your UK account(s) effective immediately, as required by applicable law. This applies to all services for your PayPal UK business account(s). Rest assured that you will still be able to access your account(s) to withdraw any funds in your balance after this time except for any amounts which are subject to account limitations or restrictions pursuant to our User Agreement. All pending transactions, reversals, refunds, amounts due to PayPal and/or your customers (including adding any necessary funding to implement this) and disputes as of the suspension date will still be processed in the normal course. Any services you receive from PayPal which are not via your PayPal UK business account(s) are not affected. Your PayPal accounts outside the UK will continue to operate as usual. We understand that this is a short time before the suspension occurs and sincerely apologise for the inconvenience caused. We understand this may be disappointing. PayPal takes its regulatory obligations seriously and we are fully committed to complying with all applicable laws and regulations. Our customer services team are available to discuss this. Please contact us for further information. First of all it says the account(s) will be suspended on 1 November, 2023. So why I’m I getting this email 2024. Is this an error?? Secondly, it says that it affects business accounts, but my account is a personal account but my account is suspended now. There’s a huge red banner when I log into PayPal saying for to some local regulations blah blah my account has temporarily suspended “ Due to UK legal & regulatory requirements we can't continue to process payments for this account, contact us for more information.” I can’t recieve nor send using my PayPal account. Is this an error or what. Someone please help me
