The transaction was for €27.49 EUR and I was charged $31.84. Paypal says the exhange rate is 1 U.S. Dollar = 0.863478 Euros. This is incorrect. The current exchange rate on 5/23/2017 is 0.894455 which would make the payment $30.73. So PayPal overcharged me by $1.11. I wonder how much money they are pocketing this way? If that IS what is going on, it is 100% fraudulent.
I rarely buy from foreign sellers due to return cost and shipping cost.
if the Paypal conversion cost of 3% and the exchange rate it uses bother you,do not use Paypal and find sellers who either have their own merchant account or accept wiretransfer or intl money order.
Sellers who accept Paypal also accept wirtransfer or intl cashier check,just ask.
I noticed this month as well.The exchange rate difference is insane.As I get paid for my work via PayPal,and when I withdraw I prefer PayPal to convert USD to my currency as my Bank can charge up to 7% of the money that go in to my account if it is in USD.So up till now I avoided this fee.But in this past month I noticed PayPal's conversion rate is way off the international.The international is 1.66 and paypal bought my USD for 1.61,which in turn I lost 6$ just from the conversion.Add the fee they charge and it's almost 10$.I've checked my Bank's rates and and they are in the normal 0.02 difference. This is quite odd though,PayPal didn't had such rates a month or two a go.Or I have not noticed.
But if this continues...maybe I will switch ot another payment method.
I noticed this month as well.The exchange rate difference is insane.As I get paid for my work via PayPal,and when I withdraw I prefer PayPal to convert USD to my currency as my Bank can charge up to 7% of the money that go in to my account if it is in USD.So up till now I avoided this fee.But in this past month I noticed PayPal's conversion rate is way off the international.The international is 1.66 and paypal bought my USD for 1.61,which in turn I lost 6$ just from the conversion.Add the fee they charge and it's almost 10$.I've checked my Bank's rates and and they are in the normal 0.02 difference. This is quite odd though,PayPal didn't had such rates a month or two a go.Or I have not noticed.
But if this continues...maybe I will switch ot another payment method.
getting paid for work rendered via Paypal is not good as you haev to pay Paypal 30 cents transactopn fee plus2.0-4.4% discount rate,tell your client to use a different payment method.
Seller is the only manufacture of this specific good so instead of waging a war on them charging the PayPal fee, I just bought it. Seller only had one other option which was using your credit card via OTPbank which I don't know enough about to trust. I already said I was not going to use it again, so your point about my post is redundant. I know there are other payment methods but not all sellers employ them. I'm just pointing out that this is hurting international sellers as I am one of those who will no longer use PayPal to purchase internationally - there is really nothing more to my point than this. I'm done with this. I posted what I wanted to say and why I think PayPal is wrong in their practice... I'm done.
YES SHAME - i`m from Bulgaria in € is fixed from 20 years: WE HAVE: ` currency board` and 1€ = 1.95583 BGN - Paypal ; exchange rate: 1.89 - shameeeee - this is clear theft.
One way to get around this 3% conversion fee is to ask for payment in your local currency,so foreign buyer/client have to comply and pay for the 3% conversion .
