Why was I charged 4% fees?
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I did a transaction for "Goods" to receive money for the amount of $820 total. My fees should have been charged the usual 2.9% rate for $23.78, but instead I was charged 32.28 (nearly 4%). The money came from Canada (I am in the US) but I cannot find anywhere that it says that international costs more than the usual 2.9%.
Can anyone explain why there is such a difference in cost? I do many international transactions and have never had this happen.
I run a luxury goods consignment business and if this is a new change then I need to make adjustments to my contracts and this will definitely affect my business. Thank you!
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I was hopeful that Paypal was an antidote to the escalating credit card fees and the established wire services like Western Union, but it appears this is not the case.
My merchant in Canada refused to use Paypal due the fees that they had to pay. I had no idea it was nearly 4% for the receiver of funds.
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Yea I usually tack on an international currency fee of 1% when receiving from sellers outside of the US.
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