PayPal is experiencing criticism from ex-employees and users alike after word of a policy change that will charge consumers $2,500 for spreading false information about its services went viral. The policy, which was published online, listed an effective date of Nov. 3, but PayPal issued a statement shortly after the story emerged, claiming that the policy contained “incorrect information.”
So, for the time being, PayPal will not be fining people for “misinformation.”
However, the policy blunder has harmed PayPal’s image, and many users are now abandoning the famous online payment system. On Twitter, for example, hashtags like #paypalcancelled and #byebyepaypal are trending, and PayPal’s stock has suffered as a result.
Whatever the reason, PayPal isn’t for everyone, and if you’re having second thoughts about using it, it might be time to quit – especially with Venmo, CashApp, Zelle, and a slew of other online payment options.
If you want to delete your PayPal account for good, here’s how to do it.
Before you delete your PayPal account
How to delete your PayPal account permanently
You can close your PayPal account by using the PayPal app on your smartphone or tablet, or by visiting the PayPal website on your PC. We’ll show both techniques below:
- Log in to your PayPal account in any web browser.
- Click on the gear icon in the top-right corner to view your account settings.
- Under the Account tab, scroll all the way to the bottom and click on Close your account.
- Finally, hit Close Account on the pop-up that appears.
- Open the PayPal app and log in.
- Tap your profile icon on the top-left.
- Scroll down and tap Close your account.
- Finally, hit Close Account.
If you have a business account and want to delete it on mobile, go to your profile icon > Account Info > Close your account > Close Account, which is just one more step.
When you close your PayPal account, you will no longer be able to check your transaction history or request or send money to other PayPal users. And any recurring payments related to your PayPal account, such as your phone bill or streaming subscription, will be terminated, so make sure to alter those payment options.