Combined Financial Services Guide andProduct Disclosure StatementThis Version: 18-4Previous Version: 18-3Last Update: 17 November 2018Jump to section:INTRODUCTIONPart 1: FINANCIAL SERVICES GUIDE (FSG)1. Issuer2. Purpose of this FSG3. How to contact us4. Financial services we are authorised to provide5. Remuneration, commissions and other benefits6. Associations7. Complaints and disputesPART 2: PRODUCT DISCLOSURE STATEMENT (PDS)8. Issuer9. About this PDS10. Our Services11. Terms and conditions12. Responsibility for taxes13. Opening a PayPal account14. Types of accounts15. How PayPal manages the funds in your account16. Key risks17. Key benefits18. Fees and charges19. Fee calculation examples20. Confirming our customers’ identities under the Anti-Money Laundering andCounter-Terrorism Financing laws21. Verifying your Payment Method and transaction limits22. Third party Card feesPayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

23. Complaints and contacting us24. Other related documentsPART 3: DefinitionsINTRODUCTIONOur legal relationship with customers is governed by our User Agreement.Our Financial Services Guide (FSG) is designed to help you decide whether to use ourservices.Our Product Disclosure Statement (PDS) contains information to help you make aninformed choice about whether or not to register for and use our services. Informationrelevant to both the FSG and PDS may be included expressly in one part andincorporated by reference in the other.Part 1: FINANCIAL SERVICES GUIDE (FSG)1. Issuer1.1 Part 1 of this document is an FSG provided by PayPal Australia Pty Limited ABN 93111 195 389 which holds Australian financial services licence number 304962.2. Purpose of this FSG2.1 This FSG contains information about: The services we provide;Remuneration, commission or other benefits paid to us and others in connectionwith the services we provide;Details of any associations which might reasonably be expected to be able toinfluence the services we provide; andOur complaint resolution arrangements and how you can access them.2.2 This FSG contains only general information about the services we offer.3. How to contact usPayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

3.1 Our contact details are as follows:Email: Visit our Help Centre.1800 073 263 (within Australia) or 61 28223 9500Phone:Support Hours are available onour Contact Us pagePayPal AustraliaMail: GPO Box 351Sydney NSW 20014. Financial services we are authorised to provide4.1 PayPal is authorised to: Provide general financial product advice for non-cash payment products; andIssue, apply for, acquire, vary or dispose of non-cash payment products.4.2 We are only authorised to provide general advice so you should be aware that anyadvice (including any statement of opinion or recommendation) we may give about ourservices does not take into account your objectives, financial situation or needs. Youshould consider the appropriateness of our services in regard to your objectives,financial situation and needs before you act on any advice we provide.5. Remuneration, commissions and other benefitsPayPal5.1 PayPal earns money from any fees you pay us under clause 18 of the PDS.5.2 PayPal also earns money when it converts currency.5.3 PayPal earns interest on the money we hold in a bank account which reflects yourPayPal balance.PayPal staffPayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

5.4 Our staff and the staff of our Related Bodies Corporate receive a salary plussuperannuation where applicable. They may also be eligible for monetary and nonmonetary awards or additional incentive payments, including bonuses and shares.5.5 The way we pay our staff and the amount we pay them varies depending on eachindividual staff member’s business area and position at PayPal.5.6 Some staff in the PayPal sales team earn a base salary and variable pay, calculated asa percentage or multiple of their base salary, if they (or their team) meet business andservice targets (as applicable).Third parties5.7 If a customer is referred to us, we may: pay the referrer a fee calculated as a percentage of the total payment volumegenerated by the customer;pay the referrer a fixed amount for each referred customer; orprovide the referrer monetary or non-monetary incentives based on variousmeasures. Non-monetary incentives may include entertainment vouchers orother benefits that we choose to offer from time to time.5.8 You can request more information about certain relevant remuneration paymentsreferred to above before we provide our services to you.6. Associations6.1 PayPal is part of the PayPal Holdings Inc. group of companies.7. Complaints and disputes7.1 We are committed to dealing with customer complaints fairly and resolving issues inaccordance with our complaints handling processes, policies and relevant regulatorystandards.7.2 We are exempt from the requirement to: hold professional indemnity insurance; andput compensation arrangements in place.PayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

7.3 The Australian Securities and Investments Commission has a free Infoline on 1300300 630 for obtaining information about your rights or making a complaint.Submitting a complaint or dispute7.4 If you have a dispute with a PayPal seller, you should file a dispute throughthe Resolution Centre by logging in to your PayPal account.7.5 If you have a complaint about our services or believe your account may be subject toan unauthorised transaction, account takeover or other type of fraudulent activity, youshould contact us immediately.7.6 You can report complaints about our services by:For PayPal accountsEmail: [email protected] 073 263 (within Australia) or 61 2 8223 9500Phone:Support Hours are available onour Contact Us pageCustomer Advocacy ManagerPayPal AustraliaMail:GPO Box 351Sydney NSW 2001Handling your complaints7.7 We aim to: Acknowledge receipt of all complaints within 5 business days.Resolve all complaints within 45 days. This may not be possible in allcircumstances.PayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

Where we cannot resolve a complaint within 45 days, we will notify you of the reasonfor the delay as well as an indication of when we expect to resolve the complaint.7.8 If a complaint relates to the limiting of a PayPal account, we may request additionaldocumentation from you. For more information, please refer to the “RestrictedActivities and Holds” section of our User Agreement.Referral of unresolved complaints to external dispute resolution scheme7.9 We are a member of the Australian Financial Complaints Authority (“AFCA”), anindependent external dispute resolution scheme covering applicable Australiancustomers. For more information on AFCA, please visit If you are not satisfied with our resolution or handling of your complaint you maywish to contact AFCA by:Phone: 1800 931 678Australian Financial Complaints AuthorityMail: GPO Box 3Melbourne VIC 3001PART 2: PRODUCT DISCLOSURE STATEMENT (PDS)8. Issuer8.1 Part 2 of this document is a PDS prepared by PayPal Australia Pty Limited ABN 93111 195 389 which holds Australian financial services licence number 304962.8.2 We are licensed by the Australian Prudential Regulation Authority as an authoriseddeposit-taking institution that provides purchased payment facilities.8.3 We are a reporting entity to AUSTRAC under the Anti-Money Laundering andCounter-Terrorism Financing Act.PayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

9. About this PDS9.1 This PDS applies to: your Australian PayPal account; andany other use of PayPal in Australia.9.2 The information in this PDS is current as at the last update. Information aboutchanges may be found on our Policy Updates page. We will mail you a paper copy ofany changes free of charge on request.9.3 The information in this PDS is not intended to constitute general advice about anyfinancial product other than the financial products to which this PDS relates, nor is itpersonal advice or a recommendation or opinion that our services are suitable for ortake into account your specific objectives, financial situation or needs.10. Our Services10.1 Our services allow you to securely and conveniently send and receive money forgoods or services and between friends and family. To find out more about our services,visit When you register to use the PayPal services, we will open a PayPal account in yourpersonal name or business name.10.3 The PayPal services allow you to:Pay anyone, anywhere, with just an email address or mobile phone number.Make apaymentRequest andreceivepayments Send payments for Commercial Transactions or Personal Transactions.Payment will be made on your terms. Funds will be debited from yourPayPal account balance, linked bank account or card.We’ll send the funds to your recipient while protecting your financialinformation.Request and receive payments instantly from anyone with just their emailaddress or mobile phone number. Invoice a buyer or request funds for a Personal Transaction.PayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

WithdrawmoneyWhen you request a payment, we’ll send the buyer or nominatedindividual an invoice or notification.We’ll let you know when you’ve been paid and the funds will appear inyour account.If you have funds in your account, you may withdraw them to the linked bankaccount you hold with a financial institution in Australia or the United States ofAmerica. If you have funds in your account that are held in a foreign currency,they’ll usually be converted to Australian Dollars prior to withdrawal.10.4 In consideration for your use of the PayPal services, you irrevocably transfer andassign to us the right to earn interest that may accrue on funds held by us. This appliesonly to interest earned on your funds and does not grant us any ownership right to theprincipal of the funds you hold with us, subject to the PayPal User Agreement.11. Terms and conditions11.1 If you sign up to use PayPal, this PDS, the PayPal User Agreement and yourcompletion of our online registration form constitute your agreement with us.11.2 The PayPal User Agreement (and its incorporated policies) is available onlineat by clicking Legal at the bottom of any page.12. Responsibility for taxes12.1 You are responsible for collecting, reporting and paying any taxes that may arisefrom your use of our services. You agree to comply with applicable tax laws inconnection with your use of our services.12.2 Unless otherwise expressly set out in this PDS, our fees are GST exempt.13. Opening an account with us13.1 You can sign up for a PayPal account at by clicking Sign Up andcompleting the online registration form.13.2 Your PayPal account will become active after you have validly completed theregistration form. You may be subject to certain payment or transfer limits until youcomplete further verification processes.PayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

13.3 You may also be required to seek pre-approval for using PayPal if your account fallswithin a category listed in our Acceptable Use Policy.14. Types of accounts14.1. There are 3 types of PayPal accounts as shown below. Premier accounts cannot beopened from 27 October 2017.Personal accountPremier accountBusiness accountFor buyers and casual onlinesellers. Buy online and inperson.Sell online.Send and receivemoney for PersonalTransactions.Upgrade to a soletrader businessaccount at any time.For buyers and casual sellers. For businesses, including soletraders. Buy and sell onlineand in person. Buy and sell online and Send and receivein for Personal Hold under a corporate name. Upgrade to a sole Set different access rightstrader businessfor employees andaccount at any time.representatives.15. How PayPal manages the funds in your PayPal balance15.1 Any funds held in your PayPal account will be pooled with money from accounts ofother customers and deposited with a licensed bank in Australia. This does not affectyour right to withdraw funds from your PayPal account.15.2 If there is a positive balance in your account and you have not transacted in theperiod prescribed under the Banking Act 1959 (Cth), your funds will be subject to theunclaimed monies laws.16. Key risks16.1 Unauthorised transactions: There is a risk your account or a transaction may becompromised and subject to a takeover, interception, or other type of fraudulent orunauthorised activity.PayPal Australia Pty Ltd - Combined Financial Services Guide and Product Disclosure StatementThis Version: 18-4

You are responsible for losses arising from an unauthorised transactionwhere we can prove, on the balance of probability, that you contributed to aYour liability forunauthorisedtransactionsloss through fraud or breaching our password and PIN securityrequirements. You will be liable in full for the actual losses that occurbefore the loss, theft or misuse of a security key or breach of password orPIN security is reported to us.16.2 Recovering owed funds: There is a risk you may: not receive your payment where you owe any amount to us, our Related BodiesCorporate or eBay; orincur bank fees if your payment method has insufficient funds to complete yourpayment with us.When you receive a payment through our services, usually we have not yetreceived payment in full from the sender. From the time that you receive thepayment, you will owe us an amo