Update!
From the Etsy Announcements:
In January, we announced that sellers located in Australia, Canada, Ireland, New Zealand, and the United Kingdom would have until February 15th, 2016 to confirm their payment settings. We wanted to let you all know that the deadline has been extended to February 29th, 2016.
Switching to integrated PayPal is available at any time, but after February 29th, sellers in Australia, Canada, Ireland, New Zealand, and the United Kingdom won’t be able to return to standalone PayPal. You can read the full Site update here: www.etsy.com/seller-handbook/article/integrated-paypal-and-direct-c...