yet another way that paypal gouges us

  1. i buy a fair bit off eBay international sites and have to pay in currencies other than the US$. so paypal gets the fee they charge the seller AND makes money by using currency conversions absurdly out of line with reality.

    but then buggers take it one step more -- i happened to do the currency calculation on my own based on their ridiculous rate, and it came out to an amount that ended in .744 -- don't you just know that they rounded UP instead of DOWN and charged me .75. :cursing: not that one cent is going to be a drag on my cash-flow, but multiply that by millions of transactions . . . .

    i. hate. paypal.

    thanks for the space to vent.
  2. That totally sucks! I think they have gotten worse since eBay bought them too! I only use them sporadically, but they still manage to annoy me!
  3. :weird: I wonder if Paypal has been watching Office Space.....

    Seriosuly though. That is lame.
  4. :roflmfao:
  5. Ya, PayPal really sucks. Between the eBay and PayPal fees, half the time they both make out like bandits and the seller is lucky to make a few bucks.
  6. Don't they just. AFAIK PayPal routinely defrauds the people who use it. Just off the top of my head, when has the Australian dollar at $0.90 of the US dollar, I can expect PayPal will only allow it's worth about $0.85 of the USD. Makes quite a difference over a large enough amount, and it must be happening to millions of people every day.

    Feeling your pain! :yes:
  7. Just goes to show that Paypal does not know simple math, that is not how you round things off Paypal!
  8. Banks are always different from the current exchange rate as well. It's how financial institutions make money doing exchanges. Instead of charging a fee, they go a bit above or below the rate they get. Same way loans work. I bank pays consumers 3% to put money in a savings account and than loans it back out at 6-8%.

    BUT - If paypal's rate says .7444 and they charged you .75, than THAT is a scam.
  9. of course -- but the spread is MUCH wider than any bank has ever charged me.

    also, on international transactions paypal charges the seller a fee that's greater than for domestic transactions -- for me domestic is 3% and international is 4%. so they get the currency exchange spread AND a higher fee from the seller.

    also, for credit card transactions, why does paypal have to convert the currency at all? if i use my AMEX they are perfectly capable of taking a charge in a foreign currency. but paypal forces a currency exchange transaction on me that's more expensive than it would be at AMEX.

    basically they look for every little thing they can possibly do to get more money out of us. have i mentioned that i.hate.paypal. ?
  10. I'm by no means a huge fan of Paypal's, and was surprised how much the fees ended up being on a couple of bags I sold recently, between eBay fees and Paypal fees. But on the other hand, I checked with a couple of consignment sellers, and they keep 30-40% of the final sale price. So compared to that, eBay/Paypal was a relative bargain (though of course then I had all the hassle rather than the consigner.)
  11. i refuse to paypal since i was screwed by them more than 2 times!..So i refuse to pay with paypal. everyone should go on strike.
  12. Yeah, using Paypal to conduct selling on ebay is like getting robbed in highway! :throwup:
    Not only they charge 4.5% fees for personal account but their conversion fee suxs big time :throwup::throwup:

    I remember, when I sold my Bbag and anticipated to get about AUD$1200ish from a sold price of USD$1000, I ended up on my account less than AUD$1100!! :cursing:
  13. I share your pain.
  14. YUP paypla and ebay SUCKS... BUT what other choices do we have?:confused1:
  15. Yes, that's the pity of it all, isn't it. eBay offers so much choice but so little enforcement of fair play. PayPal offers convenience, but at an unreasonably high cost. Woohoo, eh. :whistle: