posted on February 19, 2001 10:22:36 AM
This is a WARNING! to all Canadian sellers using PayPal. They recently offered to withdraw funds to a CND Bank account in CND funds only (for now). Today the exchange rate they offering is 1.4539 when my Bank exchange rate is 1.5315 ( and my Bank is not exactly looking after my interests). I say PayPal is NUTS to think that we, Canadians, would even entertain such a ridiculous offer.
Anyone organizing a boycott of PayPal - let me know where to sign.
posted on February 19, 2001 10:25:36 AM
You all should have know better. PayPal has set up rotten deals for International users all along. I'm not surprised that things have gotten worse.
posted on February 19, 2001 11:43:44 AM
Why organize a boycott? Anyone with 1/2 a brain would have seen through PayPal's lies from Day 1 and would not have signed up ... even when it was "free" Do you really think these people would agree to a boycott of their beloved PayPal? That would be like trying to get people to boycott eBay
posted on February 19, 2001 11:48:10 AM
hmmm----not to mention that the Canadian bank 'Buy' rate is the retail rate. Paypal is most likely getting a wholesale rate and earning another .01 on your buck.
posted on February 19, 2001 11:54:11 AM
Have never used PP, but it continues to absolutely baffle & astound me why anyone would even CONSIDER using their service, given the hundreds of negative posts that have appeared here on Auctionwatch alone. It seems that virtually every aspect of their services are fraught with user peril!
I cannot ever recall seeing another company that has been as universally condemned as Paypal -- and remember, those condemnations come from your peers, so they are likely pretty much worth listening to.
There are so many other alternatives, including having someone send you a check or money order through the mail, why don't people just get it that Paypal is not worth it at all?
posted on February 19, 2001 11:55:52 AM
Oh BTW I am Canadian (little nod there to Molson I guess), but it is not just this exchange rate grab that would sour me on Paypal, it is everything else that has gone before this!
posted on February 19, 2001 11:58:39 AM
I posted a long time ago that PP charges a 2.3% "conversion" fee on foreign transactions. However the real conversion is done by the bank behind the credit card and they build their fee into the rate they give you. PP then charges 2.3% on top of that for doing nothing and tries to pretend that they are responsible for the conversion. This kind of deception is all part and parcel of a company that began with dishonesty from day one. You don't have to go back to money orders. There are still a few decent online payment services and some of them are still free for the moment.
Do you really think these people would agree to a boycott of their beloved PayPal? That would be like trying to get people to boycott eBay