New fees on instant transfers? Slower and more expensive!

Hvytoys
Contributor
Contributor

New fees on instant transfers is a sad day as paypal has joined even in deeper with the money grubbing elite.

 

Now the service is going to be slower, taking around a half hour when it was instant for a quarter and will now cost 1% of the amount transferred.  So on a thousand dollars, you can now look forward to spending ten dollars instead of a quarter.

 

Was there some radical change to how this transfer is made?  Doubt it ....   but now they want more to do the same thing slower.   How dirtbag money grubber can you get?

 

Paypal looses my vote of being kewl as of now.  

 

Is there an alternative way to transfer funds rather than these guys that is as pervasive in the marketplace or is this a move by a monopoly to gouge it's customers?

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nevadasmith
Advisor
Advisor

instant transfer involved the use of a debit card,Paypal has to pay gateway fee and take the risk if the transaction does not go smoothly.

ACH is free but could take days 

if you think 30 minutes is too slow,consider wiretransfer or money gram or western union.

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nevadasmith
Advisor
Advisor

instant transfer involved the use of a debit card,Paypal has to pay gateway fee and take the risk if the transaction does not go smoothly.

ACH is free but could take days 

if you think 30 minutes is too slow,consider wiretransfer or money gram or western union.

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kentdenning
Contributor
Contributor
All businesses have costs, but banks (and PayPal is a bank) seem to relish inflating them to justify fleecing their customers with excessive fees. Do you really think that the transfer of a few digits of information justifies a 1% fee?
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