Last week it became known that the popular payment service PayPal has expanded the possibilities of receiving money for residents of Ukraine. Due to the ongoing Russian aggression, people should have more opportunities to receive financial assistance abroad. PayPal management agrees with it. As CEO Dan Schulman said, now users from Ukraine will be able to receive money from relatives and friends from abroad and transfer funds from their accounts to bank cards without interest. The fee waiver will be valid until June 30th.
It is planned that some of the features will continue in the future. For example, PayPal can be used for governmental social payments. Within this platform, these are truly global changes. Moreover, they were carried out in just two weeks, which is also an unprecedentedly fast step. Recall that Ukraine has been insisting on the need to expand the service’s capabilities since 2014 after Russia annexed the Crimean Peninsula.
Although some Ukrainians immediately registered new PayPal accounts, the new options will only come into effect on March 24th. Within the framework of the system, it will be possible to carry out transactions not only in US dollars and euros but also in Canadian dollars and British pounds sterling. After linking a card to your account, you can withdraw the amount in the currency of your card. Keep in mind that the conversion will be carried out at the rate of a particular bank.
Although PayPal was available on the territory of Ukraine, previously, users could not receive money on it, only send them. Now, all the platform features are available to Ukrainians in full. At the same time, Russian residents completely lost them since the service stopped working in the country after the invasion. How do you feel about the changes in how PayPal works? Do you help victims of Russian aggression in Ukraine?