Hello fellow paypallers.
I have been using my paypal debit card for a year or so now and I love it. Very handy for someone that doesn't like banks or waiting for bank transfers.
However, I have noticed some oddities when making ATM transactions and finally decided to look up some info on it today.
I read today that Paypal charges a $1.95 fee per withdrawal... as stated here in the FAQ:
Q. Can I use my PayPal Prepaid MasterCard® at automated teller machines (ATMs)?
A. Yes. You may use your PayPal Prepaid Card to withdraw cash at any ATM that bears the MasterCard®, Cirrus®, or PULSE® Acceptance Marks. Each cash withdrawal made at an ATM located in the U.S. (domestic ATMs) is subject to a fee of $1.95, plus the surcharge fee the ATM owner or bank may charge.
So, that's fair, I get hit with another $1.95 for the convenience of using my card to get cash from an atm... I can live with that. Wish I had realized this sooner, but such is life... however...
I have a very handy no surcharge Wachovia Bank ATM at my local convenience store wherein my wife is also happier to stop given that she has this thing for fountain sodas with crunchy ice as opposed to cubes...
No Surcharge: Win!
Wife Happy: Win!
So I have been using this no surcharge ATM a lot... and as stated, I noticed that I was still losing money... that's when I realized paypal took its cut... no prob, like I said... that is, until I read the above statement of the fee being $1.95 and compared it to the following deeper probe when I wondered why I lost $3 on the most recent transaction...
----Withdraw $90.00 from a nosurcharge Bank Owned ATM
---And the survey saaaaayyyyssss
Merchant: 5/3 Top Secret Super Merchant
Purchase Date: Jun 2, 2014
Authorized Amount: -$91.50 USD
Authorization Date: Jun 2, 2014
Time: 17:36:31 EDT
Status: Completed Net Amount: -$93.00
USD Status: Completed
Further up on the page it shows three stages to the transaction... Payment Initiated / Payment Hold ($1.50) / Payment Released ($1.50)
So, rereading the terms above...
Each cash withdrawal made at an ATM located in the U.S. (domestic ATMs) is subject to a fee of $1.95, plus the surcharge fee the ATM owner or bank may charge.
Why was I charged $1.50 twice? $1.50 isn't mentioned, nor is double charging for a single transaction.
At first I thought this part, "ATM owner or bank" could be the culprit, but as it is a Wachivia no surcharge atm it is owned by Wachovia and not a private atm so it can only be one or the other. The private ones are the little dingy machines you see in the independantly owned convenience stores known by many others by any number of derogatory racist names.
Also, either of those surcharges are always stated implicitly on screen at some point during the transaction in my experience.
So I am begging someone to explain to me how I am being charged $1.50 twice from the paypal side of things...
Seriously, aren't you guys making enough? If you want $3 per ATM transaction just tell me. It isn't like we would have any choice in the matter save for not using the ATM and instead running around doing cashback all over **bleep** and creation eh 😄
Just don't treat me like I'm stupid here. We can all do simple math when we take the time to actually check. I just assume a large corporation like paypal wouldn't resort to such things. Correct me if I am misinterpreting something here.
