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Old 12-04-2013
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Default Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Hello

All people who withdraw from paypal in different currencies beware, they are stealing a lot of money from our pocket with
currency exchange tricks!

This morning I wanted to move some money from paypal to my credit card. I do this whenever I reach 100 EUR, because under 100 EUR I have to pay 1 EUR fee.

So, to stay a bit over 100 EUR, I choose to withdraw 138 USD, wich according to most currency exchange sites this morning were like this:

$ 138 = € 101.6646

But according to paypal currency exchange I still owe them 1 EUR, because they calculate in this way:

$ 138 = €98,89 EUR

Even with all currencies fluctuations, how is a 3 EUR difference even possible?

They are stealing 4 on 100 EUR, plus all the fees they already took!
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Old 12-04-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Sure they do, all the similar company do the same, I think it's fine.

Last edited by GreenBean; 12-04-2013 at 08:02 AM.
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Old 12-04-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Anyone else thinks it's fine being ripped off in this way?
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Old 12-04-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Its just a their currency exchange rate.

May suck a bit, but not a lot you can do about it
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Old 12-04-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Ok I think it's enough. Ebay fees for listing and selling , paypal fees on transactions and shipping and now more hidden fees with currency exchange rates. Without counting the chargebacks every now and then.

Please can someone suggest a merchant account that actually works for non-US/UK ebay sellers?
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Old 12-04-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Google would be the best place to find something like that

Skrill is something you could look into as well
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Old 12-05-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Thanks for the answers. When I try to add skrill as an option on the ebay listing, the box is uncheckable, I get instead a link wich says "you need a skrill account", but I already have a skrill account. Anyone experienced this?
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

They exchange rate is 2.9% as far as I recon
+ they do change 2 EUR as least for me for any withdrawal and maximum I can withdraw a day is 500EUR
so they do make 14.5+2=16.5 EUR a day for 1 single withdrawal from me
And of course this is on top of their charges and on top of Ebay charges
So now when I calculate Ebay + Paypal cost I take it as FLAT 15%
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Old 12-05-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

At-least PayPal is not Wonga. If you are in the UK APR is like 1000%. Gotta find other ways to avoid PayPal as much as possible.

Last edited by vogeltron; 12-05-2013 at 05:52 AM.
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Old 12-05-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Paypal has long been known for HORRIBLE exchange rates...that's why I think they made it harder for foreign accounts to add a us bank to pp...
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Old 12-05-2013
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Default Re: Paypal Euro users: BEWARE they steal a lot of money with currency tricks!

Quote:
Originally Posted by vogeltron View Post
At-least PayPal is not Wonga. If you are in the UK APR is like 1000%. Gotta find other ways to avoid PayPal as much as possible.
That is a pretty good exchange rate for Wonga. Heard of much much worse in the past
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