Currency Conversion

[aklinz]

UNBELIEVABLE !  Not only does PayPal extort large "user fees" on every transaction, they are currently adding a 8% surcharge on Canadian users !   By this, I mean the fact that PayPal currently values the Canadian dollar at 94 US cents.  EXCUSE ME ????   The bloody Canadian dollar has been at 1.02 (or above that) for over a month !  At what point are you going to "get with the program" and actually adjust your currency values ?  Maybe a year from now ? I will simply refuse to use your fraudulent company from now on ! 

In disgust,

Andrew

P.S.  With policies like these, no wonder why the rest of the world hates Americans !

[PayPal_Adrian]

Hi Luanne!

Ha!  I saw your later posts first, and ran across your first post, well, later.  Isn't life interesting how it works sometimes?

And if that is your first post - oh my, you have quite a record to live up to

Adrian

[chucklesmga]

It used to be the exchange rate was 1% above or below the selling or buying rate. But now it has risen to 5% and in some cases more as you said.  But don't forget the more the bank  makes the more the executives make in salary and bonus.   Just like the oil companies and many other businesses. It is nothing short of greed. By the way I spent many years in the banking industry.

[Crimper]

Luanne

While I admire the effort you put into your post, unfortunately you are wrong. 100% wrong. I have the receipt from Scotiabank to prove it right here: 

[Crimper]

So as you can see by this receipt PayPal is out to lunch with their currency coversions. What is being said on this forum by PayPal  is blantly not true.

PayPal knows who I am and can see that I have never whinned or complained about anything in all of my years of being a loyal customer. While I agree that fees are necessary to any business model, there come a tipping point when the fees are excessive. I do not need to look at rates, I just need to look at bottom line. When I try to withdraw around $150 US funds from PayPal to my Canadian bank and am only going to get around $140 CDN and when my wife is paid over $10 by her bank to buy $680 US, there is something wrong.

Change your rates PayPal or you will be buried by fair competition.

[kobeici]

When buying an item off e-bay that costs $6.00USD ($5.91 CAD according to ebay) Paypal charged me $6.04 CAD.

Why the discrepancyy in value... as a reference to the Canadian $ being stronger than USA: google converter states (@9:06pm EST) 

1.00 USD

=

0.9854 CAD

Thank you,

-K

[playford]

Same here ! I guess they think chump change doesn't matter to us, but imagine all the people they nickle and dime and how that would ad up?

[jigz_2]

Same thing happened to me, except it went from like $866CAD to $900CAD.

What's the deal???

[pepperpower]

i have lost $534.67 in 2 years on exchange rate descrepencys it ads up to more than chump change when you are a high volume seller , there better options out there google pay exchange rates change daily and are accurate to the cent!!!!!

   also ebay incurages you to sell in USD dollars whats the point if were just going to get ripped off. im donw with paypal there are now so many more options out there. done with ebay to. they think there gods and can do whatever they want and whenever and expect you to check there thousand policy changes every hour as there always changing. a notification would be nice my acct was suspended now pay pal wont give me my cash im reporting them to the BBB and police for theft.

[wonderish]

Me to??? Has this been answered yet?

[Lexx9669]

Add my name to the list. This happened to me today (March 25/11). Will paypal auto correct or...?