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Paypal increases conversion fees

by GMT
10 replies
"Effective May 23rd, the Currency Conversion fee will be increased from 2.5% to 3.5%. Please keep in mind that this fee only applies when there is a transaction involving a currency conversion. You will see the update on the mentioned date on the User Agreement for PayPal Service. "

source is another forum by the user yomero.

So those of you who deal with international transactions this update may be of interest. I personally am really disappointed with the increase amount...but I suppose that's the way it goes.
#conversion #fees #increases #paypal
  • Profile picture of the author Ross Cohen
    On the bright side, transaction fees aren't increasing... and that's always a good thing.
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    • Profile picture of the author GMT
      Originally Posted by Ross Cohen View Post

      On the bright side, transaction fees aren't increasing... and that's always a good thing.
      Indeed definitely a bright side, I just hope that's not next on Paypals "to do" list ;D
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  • Profile picture of the author OmarNegron
    Originally Posted by GMT View Post

    "Effective May 23rd, the Currency Conversion fee will be increased from 2.5% to 3.5%. Please keep in mind that this fee only applies when there is a transaction involving a currency conversion. You will see the update on the mentioned date on the User Agreement for PayPal Service. "

    source is another forum by the user yomero.

    So those of you who deal with international transactions this update may be of interest. I personally am really disappointed with the increase amount...but I suppose that's the way it goes.
    Yep. The % increase isn't great but as mentioned above the transaction fees should be staying the same..

    =-D

    -Omar
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  • Profile picture of the author YasirYar
    Yet another reason to continue using Paypal!

    A change of 1% might not seem like a lot, but for those who make international transactions on a regular basis, it does add up.
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    • Profile picture of the author BIG Mike
      Banned
      [DELETED]
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      • Profile picture of the author kevkos30
        Originally Posted by BIG Mike View Post

        I

        As much as people bitch and moan about PayPal, you aren't ever going to find a comparable payment processor with their reach.

        It's just business - use them, don't use them, whatever works best. Love them or hate them, they're in business to make money just like the rest of us.
        Yeah, but they don't have to be such douchebags! I wish there were some real competition for Paypal. It's kind of like the "If you don't like it, you can leave!" mantra when you voice a complaint in America. As if there's an option that doesn't involve authoritarians running things!
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  • Profile picture of the author creditbuilder
    Avoid all that and go Clickbank!
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  • Profile picture of the author johnben1444
    This is really absurb!
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  • Profile picture of the author JamesCx
    As if they don't take enough already. Good thing most of my dealings are within a single currency.
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  • Profile picture of the author silentsal
    Ah, that explains why one of my monthly membership payments cost me more this month! It sucks being in the UK sometimes, lol!

    Sally
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  • Profile picture of the author richardcruise07
    This is very bad news for them who are already using the paypal service. If they can know about this they can feel very bad and try to find another way for gather online amount.
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