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 Replies: 11 / Views: 1,843 |
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Pillar of the Community
Australia
853 Posts |
All payment I take with paypal must be in AU$ as I refuse to pay exchange rate conversion fees at paypals uncompetitive rate. I had a customer pay me in US$ which was automatically coverted to AU$ by paypal at their rediculous rate. As the payment was made in US$ I refunded it which resulted in paypal converting AU$ back to US$ at their rediculous rate.
The net result was I had no money from my customer but paypal pocketsed over AU$40.00.
My advice is never use paypal....it is a scam.
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Pillar of the Community
United States
2443 Posts |
Wow, that's insane. Was this on an ebay auction? If so, you should have that if someone wants to pay you in US dollars, they need to pay for the conversion fees that pay has. |
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Pillar of the Community
United States
1283 Posts |
That doesn't make any sense. If there's an exchange rate and the money is returned it should be a wash. Unless they have a different rate from US to AU than AU to US. But I would think that's illegal.
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Pillar of the Community
United States
2269 Posts |
I would contact PayPal. Maybe it was an honest mistake on their part.
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Pillar of the Community
 Australia
853 Posts |
Contacted ebay...no refund...They quote rates from AU$ to US$ and US$ to AU$ and they are different. I have stated this before and I will state it again...paypal is a rip off and a scam. Unfortunately it is buyer driven and not seller driven which means sellers loose business without accepting it. Unfortunately most buyers are oblivious of the problems sellers have. |
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Pillar of the Community
United States
2797 Posts |
The "Money Changers" have Biblical origins ... bad then, worse now! I wouldn't use it for international transactions. Sorry you got shafted Big.  |
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Pillar of the Community
United States
597 Posts |
As an incentive to buyers to NOT use paypal I give a 4% discount if they pay by cash cheque or MO. I have not yet had problems with paypal, but I care to avoid problems and the best cure is abstinence from paypal.
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Forum Dad
 United States
24167 Posts |
We've used PayPal it for years, following the rules with the correct settings, without issue.
All the tools you need to avoid this problem are easily available to you. Just set, "Block payments sent to me in a currency I do not hold" to "no" or "ask me". The choice has been there for years. This problem never would've happened.
Also, if the refund is within 24 hours the same rate is used.
They also tell you up front that there is a 2.5% spread that they keep. It's no secret.
PayPal didn't "scam" you, you "scammed" yourself.
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Forum Dad
United States
24167 Posts |
quote:
My advice is never use paypal....it is a scam.
Then why in the world do you use it? |
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Pillar of the Community
United States
1151 Posts |
Bobby
Where in Paypal do you make these settings? I know it is probably under a heading - Tools or Settings, I am just to lazy to go look.
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Forum Dad
United States
24167 Posts |
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Pillar of the Community
United States
1151 Posts |
Thanks Bobby. Mine was already set to "Ask Me", must be the default setting as I have never set these before.
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Replies: 11 / Views: 1,843 |
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Posted 09/27/2007 11:10 pm
