Is PayPal Scamming Us?
Hey guys,
I want you to do something, check your PayPal transactions and verify that you are receiving the right amount of money. For those with a Premier/Business account, you should be charged (at the highest) 2.9% + $0.30 per transaction.
Here's an example:
$10 x 0.971 - $0.30 = $9.41
Tip: .971 is opposite of 0.029
Pick out 3 different transactions. Punch in the numbers and you'll be surprised to find out how much it's suppose to be and how much PayPal actually gives you.
Here's your formula:
transaction_amount x 0.971 - 0.30 = your profit
Again, compare it to what PayPal says you get. Some amounts will be right, but some amounts will be wrong.
I picked out 3 amounts from my history, $5, $10, and $59. My profit should have been $4.55, $9.41 and $56.98. PayPal gave me $4.50, $9.31 and $56.40. Sure, it's not much, but imagine millions of transactions!
Is it just my account, my math, or is anyone else experiencing the same thing? Please help.
LOL, I was just looking back in the transactions again. The amounts that are off ARE from countries outside the US. So it's definitely currency exchange related. So as they say in the military "belay my last." False alarm guys. Moderators can delete this thread so we aren't spreading false statements around. Thanks for interacting, guys. |
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