Anyone here been ripped by PayPal?

The service fee is normal. I don't see why you would expect them to do it for free. They have bills to pay too and the money got to come from somewhere, right?

They never covert the type of currency without my permission. I don't know what wrong there for you

I agree it's not normal, you're almost paying 10% in transaction fees I'd contact them.

For a conversion, 10% is probably not out of line taking into account fees, and currency fluctuations. YTD, the pound has lost about 3%. Conversions can happen for several reasons, but I DOUBT they did it just to bug you.

Steve

Contact PayPal and talk with them about why they converted the currency with out
asking you.

Here are a couple of ways you can contact them,

Method #1
Login to your PayPal account and Click on the contact spot at the bottom of the page AFTER logging in. Then select the speak on the phone option. A direct telephone number and pin number will appear. There is a short automated session, but you can say the word "AGENT" anytime to speak to a live person.


Method #2
Call PayPal: 1-877-729-7252

Paypal UK Telephone Number: 0844 41 43 019


Hope that Helps,
Have a Great Day!
Michael

Why don't you read the TOS before using the program and then complaining. It just make you look silly. I am not saying you are but we all know how it works.

Also why blame Paypal for your own bank fees.

This is all the cost of doing business and if you don't like them then leave and use another service.

Q

They never change currencies without direct permission, they aren't allowed too (unless you deposit it to a bank directly).

As for the fees, that shouldn't be happening. Call them up and ask what happened, PayPal is usually always willing to help you so you know WHY they did what they did. Getting them to reverse it is a different story, worst case call the CEO. You can get his number online, not hard to find.

I am not in US either... and in my PP account I could select to have amounts kept in CAD (primary), USD, EURO. If I set the price in any of these currencies, the money will stay in my account just as USD or EUR.

Maybe if you don't have this setting, they will automatically convert it... I don't know.

On the other hand, it is a real pain in the butt that whenever I want to withdraw money from the USD funds in my account - they will convert it to CAD, no matter what. The funny(?) thing is in the same Canadian bank where I have my CAD account linked to my Paypal account I can and I do have a USD account because I am legally entitled to it.
However, according to PP I can withdraw only amounts in CAD at their terrible conversion rate.
E.g. $1,179.98 USD in paypal = $1,135.81 CAD
According to Oanda.com converter it should be $1,165.40 CAD

I understand the idea of cost of doing business... I just hate when I am forced to have higher costs than normal.

Not robbery by PayPal. I suggest you see what your bank normally charges, then compare with PayPal. They may take a bit more due to the convenience they provide, but I think you'll find PayPal pretty competitive otherwise.

By the way, did you check with PayPal first in order to see if there was some error or problem? Or did you come here to perpetuate more Urban Myths about PayPal?

I've found that although Paypal is really screwy at times, they do provide pretty good support via telephone. I'm sure they will sort it out for you. With that said, their fees vary based on country. I've had them charge me 10% before for receiving money from Canada ?

Daniel J.

It is not normal at all, and yes i have been ripped by pay pal, but this is another case, it was regarding a chargeback.
Regarding the fees, i agree they are to big 0.039% + 0.3$, i have a shop, and when a person buy for 500 $ i pay 20 $ fee. They are indeed rippers.

@Istvan,

I was advised by PayPal to switch my account into USD, but I've never had it auto convert.. However, I have been losing a LOT on the conversion rates... Especially with large withdrawals {We're talking $100's of dollars in "extra" exchange fees}....

However, a thought would be to create a US dollar bank account at your bank, and that way you would do all business in one currency, and only be forced to pay your banks exchange rate.

Caleb

@Caleb,

I do have a USD account at my bank. When paid by cheque from US clients I deposit US dollars there... and I can even withdraw it as US dollars if I walk in to any branch of my bank (e.g. before a trip to US).

And Paypal converts my funds ONLY when I withdraw it directly to my CAD bank account... because they don't let me to link my USD account to my PP account!

The reason I think you haven't is pretty obvious. You are complaining about something that is plainly described in their TOS and a part of business when dealing in international currencies.

Just go get another processor if your not happy.

International payments:

There is a fee when you send a payment to someone in another country or if you receive a payment from someone in another country. Please note that exchange rate fees also apply if there is a currency conversion.

For more information on domestic and overseas payments, please read our fees policy.

I once had a customer mistakenly dispute the charge they made to pay for services. I processed their payment via paypal. When paypal saw the dispute they froze my account for the same dollar amount that was in dispute.

My client immediately called her credit card company and told them about the mistake, the credit card company immediately notified paypal but paypal still keep my funds frozen for about 30 days longer. It was a $2k charge so it was no small change and I was pissed. So warning, warning, warning, do not keep large sums of cash in your paypal account. Remove it asap!!!!!!

I hope this hasn't been offered by someone else, but...

If you go into your PP account - profile area and look for where you set up the fee choices. Sorry, I don't have time to check my PP account to look for it. But there's a place in there where you specify if you want the funds in US, UK or in my case, CDN funds. Within your account, you can convert to the funds of your choice.

It could be that you have it set up to US funds - perhaps because that's the default? Not sure. I'd have to look again.

Anyway, you need to set it so you get the funds in your preference. That way, you don't have to keep reconverting it.

The cost to convert is simply based on what the bank rate is at that time. So today, there might be a difference in the dollar value by $100 - an hour from now it could be $103. I've lost money when I've double ordered and paid for things from CDN to US, and had to get a refund. The refund ended up less than what I paid because of that change in dollar value during that business day.

That dollar difference has nothing to do with PayPal. It's based on the world economy - the dollar values you're dealing with at a particular time.

So when someone said the fees are normal - they are. PP charges everyone for transactions. It's not just you. It's their business.

Hope this explains it.

Sylvia