PayPal is NOT your Pal

[Dean2]

As though Paypal wan't bad enough with a claim process that doesn't work, an anti gun stance, and donating to the anti gun movement, now they will rip you off on the exchange rates. This conversion process just started.

Buy something from a U.S. outlet from Canada, using your credit card on Paypal, and Paypal does the conversion to Canadian for you, whether you want them to or not. Seems like it should be okay, since your credit card charges you a 2.5% premium on the current exchange rate if you are using a Canadian dollar credit card. Problem is, what Paypal charges you on the conversion is over double what your credit card will do it for. :angry3:

On top of that, if you are using a U.S. dollar credit card, you will pay PayPal for the Canadaian conversion, and your credit card to covert it BACK to U.S.:sign0161:

Complaining to Paypal does zero good. Call your credit card companies' dispute line, and they will take good care of you, at least both CIBC and Royal have for me, and send the unathorised conversion charges back to PayPal.

I will not use PayPal ever again, and if that is the only choice a vendor offers me, I will buy elsewhere. Thank goodness we have Interac Money transfer here in Canada.

[Evilsports]

Funny you should post this.

I just sent some money via Paypal. I had $135.XX USD in my Paypal account. If I sent it in CAD it would have been $130 even.

I changed it to USD and typed in the $135.XX and it showed that if I hadn't have the USD in my account already, it would cost me $137.XX CAD!!

Shysters.

[Evilsports]

Also, just a heads up but if you pay Paypal through your credit card they give you the option of conversion. Click on "Other Conversion Options" before you hit "Send Money" and you're given these two options:

Use PayPal's conversion process to complete my transaction using my card's currency.
Both the original transaction currency and the converted amount that I will be charged are disclosed for my convenience. I understand that MasterCard and Visa have a currency conversion process. I have chosen not to use the MasterCard and Visa currency conversion process, and I will have no recourse against MasterCard and Visa with respect to any matter related to this conversion.


Or:

Bill me in the currency listed on the seller's invoice.
I will not know which foreign exchange rate has been applied to this transaction until I receive my card statement from my card issuer. I acknowledge that by choosing this option, my card issuer will determine the foreign exchange rate to apply to this transaction, and that I will not be informed of the foreign exchange rate or any additional foreign exchange fees applied until I am billed by my card issuer.

[Dean2]

There wasn't that option, or at least I completely missed it, when I used them 2 days ago, and from the amount of bad press on even their own website I would say others aren't finding it either. In addition, there are lots of moderator repsonses on their in-house forums, and none of them mention that there is this choice, so clearly Paypal isn't making it any easier to find than they have to. I am going to go part way through a transaction and look specifically for that option. Thanks.

[Gust]

... so they are anti-gun eh? But they have no problem moving funds to and from the KKK,, sometimes ya just gotta wonder???

[Evilsports]

There wasn't that option, or at least I completely missed it, when I used them 2 days ago, and from the amount of bad press on even their own website I would say others aren't finding it either. In addition, there are lots of moderator repsonses on their in-house forums, and none of them mention that there is this choice, so clearly Paypal isn't making it any easier to find than they have to. I am going to go part way through a transaction and look specifically for that option. Thanks.


This is where I found it:

http://i291.photobucket.com/albums/ll299/Evilsportszx14/Clipboard01.jpg


and it takes you to this:

http://i291.photobucket.com/albums/ll299/Evilsportszx14/Clipboard02.jpg
Don't get me wrong, I hate Paypal and only use it when I absolutely have to.

[TBark]

Paypal has been taking about 2.5% on the exchange from buyers / payers for years now. I call to bitch about it years ago, it did no good, it's just the way it is.

TBark

[Iron Brew]

Haven't used paypal in years. Have no intention of using them. One of the main reasons I don't shop at ebay.

For entertainment, check out paypalsucks.com

I had charges placed by paypal on my CC, and it took many months to get them reversed. I have got rid of my account, or at least, all the information on my account. I got a cash credit card to use IF I need to do internet purchases. This way, if I have say a $350 purchase, and $450 on my card, and something goes wrong, I'm out under $500, rather than the ridiculously high credit limit the CC companies have placed on my card... Wish they'd stop raising the limit...