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True, the xe conversion rate said $166.82 but companies are in business to make money. Try taking that piece of paper to an airport currency exchange booth and see if the airport rates are the same as XE.

I think the problem arises when you assume CCNOW/Paypal uses the same currency rates as XE. All they need to do is tweak that conversion rate by a few fractions and they get a nice bonus on each currency conversion.

166.52
-158.22
===========
$8.54 paid commish

That is 5.12% commish - pretty normal

So yes, invoice in Dollars so you do not have to pay for the conversion.



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Hi. Thanks for the reply. I understand what your thinking but nowhere on the ccnow site does it state any fees for currency exchange nor does it seem to affect buyers paying through CC. I have made three sells today and all three were paid through paypal so I assume that PayPal is somehow behind this, but I can't figure how they could possibly be taking money.

So, I did a test by going through the checkout process and surely indeed when I hit the button to pay by PayPal I'm taken to the PayPal site and right before the buyer logs in to pay it shows the total being $158.28USD before CCNOW has done anything which could possibly cause this (taking their fee)? Is it possible somehow paypal is stealing my money?:mad:

If you sold something without telling your buyer that it was going to take two weeks to ship then he is going to be pretty pist, if he knows then it is no problem, leave it as shipped and take your $$$.

I work with a few of my partners and we also sell on ebay. One of them actually managed to sell off our entire inventory. But we're expecting new shipments to arrive in two weeks. So I kept the listings on ebay up and I tell them that when we will be shipping and even upgrading the shipping to next day free. I guess If they can't wait then I'll just refund there money. I just don't want to be penalized for marking it shipped and having CCNOW look and see that the tracking number is not showing as that it was shipped.

I'm a little bit lost here. You saw $158 because that is how paypal and currency exhange services make money.

Paypal and airport currency exchanges do not follow the exchange rate on XE.

I believe, if I am correct, you are saying you feel paypal should exhange money at the same rate as on the XE site.

As I mentioned above, take a printout of the XE site, go to London Heathrow and ask at the currency exchange booths for that exact rate of exchange from XE. See what happens.

If I am missing something here let me know.

Paypal, as requested, cheerfully converted AUD currency for you into USD then gave it to CCNOW in USD and then CCNOW gets to chew on it a bit more for their cut. After CCNOW stops chewing on it they give what is leftover to you.

That is how the currency exchange companies make money. Say you and I go into business together. We open at 6am. In the marketplace if we exchange £100,000 pounds today for USD then that means we end up with an extra £5,000 based on 5% commish.

XE exchange rate 1 GBP = 1.97400 USD
Our exchange rate 1 GBP = 1.87200 USD

So in other words just by exchanging pounds for dollars we made $10,000 USD profit today for a few hours work. Good work if you can find it.

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oh I see what you're saying again.

What I should have mentioned which I don't know why I didn't is: I have received payments via PayPal hundreds of times and have had them exchanged into usd and they didn't take any fee, they exchanged based on the standard and the same as xe.com. The only time they have taken a fee of course is when you're accepting a payment based on their fee table, but never when just converting to another currency.

I have lost about $79 today based on this hidden fee, so I will call ccnow in the morning.

CCNOW doesn't look at the tracking to see if a package is shipped, but it will be used as a reference if a buyer files a dispute so if you can stall your buyers you can keep the money or you can tell them what is happening and if you don't mind refunding the payments you can if they request it.

Well, if paypal never charged before and they are charging now for the identical service then I would say call paypal and ask why. I never in my life heard of currency exchangers anywhere in the world that work for free. If paypal does that is news to me. I have never received anything free from paypal in the last 9 years.

I am not saying paypal states "we charge $X fee to convert funds"
I am saying paypal applies less favorable exchange rates on currency conversion as does any currency exchange business that wants to stay in business.

I'm curious what paypal and/or ccnow will tell you. There appears to be one part of the story missing somewhere.


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PAYPAL takes 2.5% CURRENCY exchange fee, this information can be found on paypal website.

and based on the above posting, it seems CCNOW doesn't pay Paypal any fee? let's say buyer pay 100USD to my via paypal, first the 100$ goes to CCNOW's paypal, right? and then CCNOW charges fees, and finally we get about 95$, right? so if the full 5$ is taken by ccnow, ccnow does not pay paypal any fee.

maybe the following is right?

ccnow does not pay paypal any fee, or in other words, CCNOW's paypal account is just a transferring part, it transfers the buyer's paypal payment to our seller's ccnow accounts, minus the ccnow fee.

To see what PP will whack you for on currency conversions go here.

https://www.paypal.com/us/cgi-bin/we...rrency-generic



http://i31.tinypic.com/oj2zxe.jpg

http://i27.tinypic.com/2vxk5j4.jpg



As you can see it's 162.75 on 175AUD.

What the other amount is to bring it down to 158.22 before CCNOW gets a hold of it is anyones guess. Most likely the paypal transaction charge.

162.75
-158.22
=======
$4.53 (2.78% of $162.75)


When I receive $100 USD to my USD account PP whacks me for 2.9% plus 35 cents or so for the transaction fee.

In your case what I see is pretty normal PP fees.

They whack you for 2.5% currency conversion fees then they whack you for the transaction fees then they send what's leftover to CCNOW to chew on. I seriously doubt Paypal would ever transfer money to CCNOW without taking a processing fee cut and the 35 cents or so transaction fee cut.


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Question : How does PayPal determine the foreign exchange rate for currency conversions?

Answer :
A PayPal is not a currency dealer and therefore must purchase foreign currencies from its bank. PayPal receives a quoted wholesale rate from its bank (twice a day) and adds a 2.5% spread above this rate to determine the exchange rate applied to transactions that involve a currency conversion.

the cited above should answer the currency exchagne quesetion, now could we be back to the original topic, is my conclusion right?

"ccnow does not pay paypal any fee, or in other words, CCNOW's paypal account is just a transferring part, it transfers the buyer's paypal payment to our seller's ccnow accounts, minus the ccnow fee"??

Hi. Ok i figured it out. PayPal is not taking any fee whatsoever even though it looks like it is because it shows a smaller amount when exchanged to dollars right before you pay on their site. It turns out CCNOW exchanges the money from whatever currency into USD and takes about a 5.4% fee and after that they take there usual 4.99% + .50c per transaction.

I figured this out because somebody in the U.K. paid by cc in pounds giving me 187.98GBP and that fairly exchanged into dollars is about $366.33 and in the CCNOW page it shows they took a fee of about $16.95 (not stated for what) leaving me an amount of $349.44USD and then their regular fee which came out to $17.94. In the end, I received a net total of $331.50 which adds up to about $35 in fees to get the money.

The exchange problem is solved. We can all conclude from this that accepting any foreign currency using CCNOW is extremely expensive topped with their regular fees.

Bottom Line: When expecting to receive foreign currencies the total percentage taken by CCNOW along with their regular fees is about 10%.

How long does ccnow take to tell me when to ship the item?

depends, but if everything is ok with the order and goes through correctly any where between 1-6 hours. If their is a problem or your order goes into manual processing it is best to call them, this is usually representative of a stat code 22 on the order page. If you get a stat code 23 it means everything is good.

What kind of order makes ccnow take longer to tell me to ship?

Hi. It all really depends, if the item you're selling is not on the prohibited list and is not any way possible breaking any rules should go right through in the time period specified earlier. Also, a order might go stat code 22 for instance of prohibited item, typo in buyers address or information, mismatch in shipping and billing address, etc. If your order is not in stat code 22 it will probably go through rather quickly.

If you use ccnow as payment are you still restricted to listing a small amount of items with a new ebay account. For instance with a new ebay account you sell maybe 10 VERo items within a week and then your account gets suspended by ebay stating there were problems with your paypal account. Then you go to paypal and they ask you to verify information. If you sell the same 10 Vero items with a merchant account will your account still be suspended?

HI: If its an out of the Country order, they take longer to approve--was this your question??
Also- if the customers credit card info is not an exact match-it takes longer..

Anyone having lots of problems ESPECIALLY with BIN items, where ppl ignore the CCNOW request and pay w/ PP? Even after I send a CCNOW invoice, and insert the link into the invoice, I'm still getting the vast majority of ppl paying with PP. THEN i have to send them an email, refund the payment...pain in the. Anyway to auto invoice and stop ebay/PP invoices?

When I first started selling on Ebay in Jan 98 I signed up for a merchant account. All they asked for was my website which I faxed a hardcopy of my daily ebay sales for the previous 2 weeks. I was setup in a couple days and every night when I batched out I would have the funds in my bank account within 2 days. With that cashflow I used my bank debit card anywhere in the world to access funds. PP will slam your account if you try to buy a $5 big mac lunch in Bangkok with your USA based debit card.

All my customers started raising bloody hell to accept PP later when they came out. Remember when PP would give you $10 when someone signed up under you? Remember their motto? "Free Now, Free Forever!"

That said, I relented my merchant account to do all sales via PP.

Try looking around for a reliable merchant account that will do the transfer in a couple days. That way you are not loaning out money for free.

~HOE

That quote has been bugging me, so I finally found out what movie it was from.
I'm going to have to watch that, again. Soon.
Perhaps on the fifth of November.

hi iam an rish ebayer using paypal. have been suspended from ebay a few times back online now. anyway i am wondering whats the benefit of not using paypal with ebay is it just so you dont get have the hastle of paypal disputes etc..?

irish sorry!

HI I have a CCnow question I have read in these postings you can change the business name on the ccnow account but have been trying to find out where to do that, I did a test payment and see my business name is the same as a suspended user id. I ready you can change the business name as much as you like but have had no luck. Thank you for any help.

edit the Credit Card Statement Descriptor on your account home page under Account Summary when you first log in.

CCNOW company name change
 

HI thanks so much for the information I think I figured it out, after I changed it I got a message saying it would have to be approved by them. Thanks again :amen:

CC Now / Ebay / Paypal
 

So let me see if I have this right. I have pored over many of the threads here and I think I have the right idea. Just getting a little nervous
changed IP address
1) Created new PP acct with ⊗⊗⊗⊗ name and address. Verified it with Simon Gift account cc # in ⊗⊗⊗⊗ name and lifting limit with never used bank account in real name ( since I understand PP doesnt check the name, only account and routing #'s)

2) Opened new Ebay account in ⊗⊗⊗⊗ name and address and linked PP account. Is only Buying account now, will soon change to seller account
3) have call forwarding service with new number
4) waiting for small deposits in checking acct to verify PP
5) opened CCnow "merchant account" to process Paypal pymts
6) opened auctiva account and generated token for ebay
7) made listings (about 5) but didnt post to Ebay yet. Put in checkout information that payment instruction will be sent out after auction close, wherein I will send them the link to pay by CCnow. Will put "please do not remit payment for item until payment instructions received in separate email , or shipment may be delayed"
8) in Process of opening up MerchantPlus merchant account to satisfy Ebay requirements for docs, or do I need to if customer pays via Paypal to CCNow?

any advice on if I did anything wrong or missed anything?

using cc now with ebay
 

so does ebay have to approve using cc now ? do they even know? also
I read ebay steal EXCELLENT, AWESOME, THANKS, everyone should buy it. best money spent ever. Now with auctiva do you have to set up a new account for every ebay acct?

ebay doesn't work with ccnow, as it's payment processor not a real merchant account, you can use ccnow with ebay in stealth mode, upon auction end just email an invoice to buyer, though lots of buyer tend to pay by paypal, to prevent this i do the following, list an item with "Buy It Now or Best Offer" make a price a bit higher, and just wait for offers, after you receive a suitable offer, either reject it or make a counteroffer , do not accept it as buyer ll definitely pay with pp, in the note just explain that you d send an invoice and buyer d be able to pay either by credit/debit card or paypal.