Terms under the Singapore Payment Services Act 2019

PayPal Pte. Ltd. is licensed by the Monetary Authority of Singapore to provide e-money issuance services. Please note that this does not mean you will be able to recover all the money you paid to PayPal Pte. Ltd. if PayPal Pte. Ltd.’s business fails.

This section provides information about how PayPal safeguards funds we receive from or on account of customers (“your funds”) as required by law in Singapore, unless the Exceptions set out below apply.

We safeguard your funds by depositing them into a trust account(s) in our name with a bank or other safeguarding institution in Singapore.

We also use the same trust account(s) to safeguard funds we hold for other customers, which means:

• Funds from different customers are commingled in the trust account(s).
• It is not possible to identify or isolate part of the funds in the trust account(s) as belonging to any particular customer.
• If the safeguarding institution(s) became insolvent or is unable to meets its obligations, there is a risk you might not be able to recover some or all funds in the trust account(s) that we hold on your behalf.

Where you reside outside Singapore (including if you are an entity that is not established in Singapore and does not carry on business in Singapore), the safeguards described above do not apply to your funds, except when you withdraw balance in your PayPal account to a Singapore bank account and the funds remain in transit.