TORONTO, Dec. 1, 2017 /CNW/ - A class action lawsuit has been commenced against PayPal CA Limited, PayPal Canada Co. and PayPal Holdings Inc. ("PayPal"). The proposed class action is brought by Leonid Kaplan on behalf of all Canadian-resident PayPal users.
The claim pertains to charges levied by PayPal on foreign exchange transactions. The claim alleges that PayPal charges Canadian-resident users undisclosed currency conversion fees:
- When they purchase goods and services using PayPal in a currency other than the one in which those goods and services are offered for sale; and
- When they withdraw foreign currency from their PayPal accounts, and, further, that such conversions are unauthorized and are not required.
The claim alleges that, contrary to PayPal's standard form user agreement, PayPal fails to allow users to designate their credit cards to perform currency conversions during online checkout and instead performs the conversions itself to generate fees.
This proposed class proceeding raises serious issues that may affect millions of Canadians who use PayPal for online commerce. The claim alleges that the PayPal system results in hidden fees being charged to PayPal users who have accounts and those who do not.
SOURCE Paliare Roland Rosenberg Rothstein LLP
For further information: Please contact Jeffrey Larry, Paliare Roland Rosenberg Rothstein LLP, 155 Wellington Street West, 35th Floor, Toronto, ON, M5V 3H1; Further details regarding the claim are available at www.paypalclassaction.com and 1-855-666-1053 or [email protected]