Unfair exchange rate

[d600user]

Why is paypal charging me over 41% exchange rate for US to CAD, the bank buy rate is only 37%???? Paypal exchange rate is always higher that what is posted in ebay ads,

[DrewT]

Same here I don't get it. Proper exchange rate right now is 1 CAD =0.741049 USD Paypal: 1 CAD = 0.718004 USD

[oldboots1]

This incorrect exchange rate just cost me an extra $50.00 !!!

Why is this happening?

What can we do about it?

Where can we file a grievance?

[d600user]

I wish I could help you... they seem to have a monopoly on ebay transactions. 

[DrewT]

Wouldn't this be illegal? I guess it's how Paypal makes a profit...

[d600user]

Not only that, but if you make a withdrawl from your account, it takes a few days, sometimes 4-5 days to actually get paid, they earn the interest on it for the time, small amount , but they do millions a day.

[oldboots1]

And so we are penalized more for (Canadian) International sales (excluding the US): 3.9% transaction fee + fixed fee (based on currency received)* If I had know this I would have sent it to my US post box 20 mins away & saved almost $100 !!

[d600user]

They did it to me again. Should have paid a total of 61.00 CAD and Paypal collects 64.00 CAD