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Universal Paypal conversion change for all currencies outside of the US

Started by VintageComics,

78 posts in this topic

Bomber-Bob

Bomber-Bob

Posted
Posted

Recently (November 6 ?), I did a cross country payment and Paypal automatically changed the transaction from USD to the currency of the other country. The seller did not accept the transaction and I paid a second time, this time changing the currency back to USD after PP changed it. Anyway, I had two payments on my CC for the longest time. I even called and started a dispute process but the return credit eventually posted.

BTW, IMO, calling Paypal is as useful as the agent that answers, occasionally good results,most often useless.I'd rather go to the dentist !

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cheta42

cheta42

Posted
Posted

If this will be the new policy going forward for Paypal it will definitely put the final nail in the coffin for Canadians buying or selling to and from the U.S.

Canadians will now be forced to ask for "Cash payment only, no cheques , no paypal , Cash in a plain envelope , I will meet you at the border. " I am so sick of Ebay and Paypal and the banks. They are all double dipping on the exchange rate and we are forced to capitulate if you want books.

BTW there is a great potential business for any American Boardies. Charge a small fee and use your Paypal account to buy and sell comics for Canadian Boardies. Maybe I should just strap some cash to Roy when he is crossing the border and let him be my "Comic Mule" hm:idea:

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Wall-Crawler

Wall-Crawler

Posted
Posted

Ok, this is what PayPal told me. Apparently, they changed their policy...

 

With PayPal to PayPal transactions, the seller will receive funds in their "home" currency regardless of how it was sent or what currency was requested.

 

Ebay will remain the same as there was an "in-between", but PayPal to PayPal, seller/receiver will get the funds in their home currency.

 

:mad:

 

Here is the kicker. So, you can "transfer" your funds say from CDN to USD but you get nailed with a PayPal conversion fee.

 

Example: $439 CDN = $425 USD

 

PayPal, when you go to convert just shows you WHAT you will be paid, not how much they are actually charging...You have to compare what you will get vs current conversion rates. When I went to convert the $439 CDN is shows up as $316 USD.

 

So, basically, to convert my money, they are charging me $8 - $9 on this transaction. This is in addition to the fee they already took initially.

 

This is really annoying.

 

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Captain Canuck

Captain Canuck

Posted
Posted

I spoke to PayPal 2 weeks ago about my concerns that they were converting my USD payments for me into Canadian, which wasn't an issue before. They mentioned it shouldn't be happening and that my Credit Card should be charged in USD funds, which I prefer, credit card has no conversion fees, but looked at my statement today and PayPal charged me in Canadian, hence through their rates I lost $40 Canadian on a recent transaction. Need to call them up again because they assured me that it shouldn't be happening.

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Wall-Crawler

Wall-Crawler

Posted
Posted
If you send payment to a Canadian seller, it seems that Paypal now request that you choose in which currency you want to pay and which currency you want the seller to receive money.

 

Therefore you have to select USD twice.

 

Does this option appear if the CDN seller sends an invoice?

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vaillant

vaillant

Posted
Posted
Ok, this is what PayPal told me. Apparently, they changed their policy...

 

With PayPal to PayPal transactions, the seller will receive funds in their "home" currency regardless of how it was sent or what currency was requested.

 

Ebay will remain the same as there was an "in-between", but PayPal to PayPal, seller/receiver will get the funds in their home currency.

 

:mad:

 

Here is the kicker. So, you can "transfer" your funds say from CDN to USD but you get nailed with a PayPal conversion fee.

 

Example: $439 CDN = $425 USD

 

PayPal, when you go to convert just shows you WHAT you will be paid, not how much they are actually charging...You have to compare what you will get vs current conversion rates. When I went to convert the $439 CDN is shows up as $316 USD.

 

So, basically, to convert my money, they are charging me $8 - $9 on this transaction. This is in addition to the fee they already took initially.

 

This is really annoying.

 

THIS. I have been talking with Kaspar in lenght about the issue, and this is definitely the conclusion.

 

It’s not something that involves just canadians, but all people in all countries, as long as we are talking across currencies.

Not only the annoying fact they do not show how much actually the original payment has been, but they also charge you TWO currency conversions (if I get it right) on top of the selling fees.

 

They have just "replied" my message, and the reply sounded like persiflage: the operator basically told me the last two operations I made (including both currency values) and he IGNORED my question.

 

I rewrote them and told them that I am about to give up their service.

Unless they reply REALLY NICE.

 

:sick:

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vaillant

vaillant

Posted
Posted
If you send payment to a Canadian seller, it seems that Paypal now request that you choose in which currency you want to pay and which currency you want the seller to receive money.

 

Therefore you have to select USD twice.

This is a separate matter – I am aware of it and realized it after the last payments.

 

But I strongly believe there is a core problem, as my primary currency is USD and regardless of that now I have just EUR in my account (and paid for the conversion).

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Wall-Crawler

Wall-Crawler

Posted
Posted
If you send payment to a Canadian seller, it seems that Paypal now request that you choose in which currency you want to pay and which currency you want the seller to receive money.

 

Therefore you have to select USD twice.

This is a separate matter – I am aware of it and realized it after the last payments.

 

But I strongly believe there is a core problem, as my primary currency is USD and regardless of that now I have just EUR in my account (and paid for the conversion).

 

Based on what I read above, I refunded the buyer his payment.

 

I then sent the buyer an invoice this time (as opposed to the buyer paying me directly). The invoice was for USD funds. I have my primary currency set to USD. The buyer paid and the payment was just deposited as USD in my PayPal balance.

 

:)

 

The only thing though, is that it looks like they charged me around 3.8% for the transaction as opposed to what I thought it was supposed to be...2.9%? Whatever though. With all the problems I am not going to quibble at an extra % point.

 

There is so much conflicting information though I get the sense that PayPal doesn't even know what is up?

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greggy

greggy

Posted
Posted
If you send payment to a Canadian seller, it seems that Paypal now request that you choose in which currency you want to pay and which currency you want the seller to receive money.

 

Therefore you have to select USD twice.

This is a separate matter – I am aware of it and realized it after the last payments.

 

But I strongly believe there is a core problem, as my primary currency is USD and regardless of that now I have just EUR in my account (and paid for the conversion).

 

Based on what I read above, I refunded the buyer his payment.

 

I then sent the buyer an invoice this time (as opposed to the buyer paying me directly). The invoice was for USD funds. I have my primary currency set to USD. The buyer paid and the payment was just deposited as USD in my PayPal balance.

 

:)

 

The only thing though, is that it looks like they charged me around 3.8% for the transaction as opposed to what I thought it was supposed to be...2.9%? Whatever though. With all the problems I am not going to quibble at an extra % point.

 

There is so much conflicting information though I get the sense that PayPal doesn't even know what is up?

Maybe they finally stopped waiving the cross border fees that we have been enjoying for a long time for payments from the US?
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vaillant

vaillant

Posted
Posted

@Greggy: I don’t think so at all.

 

I believe they know perfectly what they are doing, but they did not advertise and/or inform about these late changes.

 

In fact, their second reply truly sounds like they are fooling around. Here it is:

 

[…] it could be that the payment underwent currency conversion on their end as the system detected that the payment has been sent to a different country. This usually happens if the buyer does not have multiple currencies on their account.

 

Regarding your balance, as you have multiple currencies on your account, you have separate balance for euros and for dollars. However, you can convert your euro balance and have it added to your dollar balance.

 

Here's how to convert your balance to another currency:

 

Go to www.paypal.com/uk and log in to your account.

Click PayPal balance.

Click Manage currencies.

Under 'Currency Exchange' (in the right panel) enter the amount you want to convert.

Select the currency to convert the funds from.

Select the currency to convert the funds to.

Click Calculate to see the currency conversion.

Click Continue to review the transfer.

Click Exchange Currency to confirm the transfer.

 

I trust this information is helpful. Thank you for choosing PayPal.

 

They know precisely that each and every conversion results in a fee, so what kind of response is this?

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