Martin Lewis has issued a warning to those using PayPal to check their accounts now.
PayPal recently announced everyone with an account must now check their phone number in order to continue being able to use the service.
In order to meet new regulations, PayPal is adding Strong Customer Authentication (SCA) to its login.
But Martin also warned account holders about a new charge for inactivity.
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Martin tweeted the message: "Paypal users warning. It is going to introduce a £12 inactivity fee."
This is because the online payment company is set to introduce an annual fee of up to £12 for users whose accounts have been inactive for a year or more, reports the M.E.N.
Martin pointed to the MoneySavingExpert.com newsletter explaining exactly why this is happening and how you can avoid being stung by an extra cost.
It is very simple. All anyone with a PayPal account has to do is log into their account or make a transaction before December 15 as from December 16, PayPal users will be charged the fee if their accounts have been inactive for at least 12 consecutive months.
PayPal defines "inactive" as an account where the user hasn't sent, received or withdrawn money, or logged into their account.
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If you do forget all about it, PayPal said it would warn inactive users about the fee 60 days, 30 days and then seven days before they are charged.
So you will have a few opportunities to avoid the charge.
The other option is, if the account is no longer used, is to simply close it before the deadline.
