fotoman Posted June 8, 2009 Report Share Posted June 8, 2009 i just sent some money to a verified business acct. but i marked it as "personal" and then after i sent the money i got a message that said, as long as i'm sending $$ from my bank acct or paypal balance, if its marked as personal neither I nor the recipient incur any fees. JUST LIKE THE OLD DAYS!!!!!!!!!!!!!! whooo hoo Quote Link to comment Share on other sites More sharing options...
DavidBreitling Posted June 8, 2009 Report Share Posted June 8, 2009 i just sent some money to a verified business acct. but i marked it as "personal" and then after i sent the money i got a message that said, as long as i'm sending $$ from my bank acct or paypal balance, if its marked as personal neither I nor the recipient incur any fees. JUST LIKE THE OLD DAYS!!!!!!!!!!!!!! whooo hoo Of course Ppay fees still apply to payments from credit cards, right? and those outrageous foreign exchange rates, also about 3% off market rates for those of us that do not live in a USD world. Quote Link to comment Share on other sites More sharing options...
wheaton26 Posted June 8, 2009 Report Share Posted June 8, 2009 devil's advocate ... but why would they do this? Quote Link to comment Share on other sites More sharing options...
Corgi Posted June 8, 2009 Report Share Posted June 8, 2009 Of course Ppay fees still apply to payments from credit cards, right? and those outrageous foreign exchange rates, also about 3% off market rates for those of us that do not live in a USD world. Can someone elaborate on this maybe?? Why is $1.00 USD = $1.12 CAD (via www.xe.com) but then why is $1.00 USD = $1.16 CAD (via www.paypal.com) THAT IS AN OUTRAGEOUS DIFFERENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
nikki6 Posted June 8, 2009 Report Share Posted June 8, 2009 I guess PayPal are trying to do the nice, friendly, "look at us being all kind and fuzzywuzzy for the families" But it also means you are no longer covered by the protection scheme/scam, that they run! I'm by no means one of the PP haters who think they are the devil and are trying to steal all your money I have used them for years with only one issue that was quickly fixed for me, but I would say this is a promo "fuzzywuzzy" act to try attract some of the milder haters back! It costs them nothing at all if you lose your money this way, it's not covered, but it also makes them look good. Win/win in the promo stakes. The exchange rates are another ballgame altogeather!! It drives me insane when the market figures say I get $1.7066 to Quote Link to comment Share on other sites More sharing options...
chronoluvvv Posted June 8, 2009 Report Share Posted June 8, 2009 paypal has never charged the recipient a fee if a bank account or paypal balance was used to make a payment ... what's the big deal ? Quote Link to comment Share on other sites More sharing options...
wheaton26 Posted June 8, 2009 Report Share Posted June 8, 2009 paypal has never charged the recipient a fee if a bank account or paypal balance was used to make a payment ... what's the big deal ? ummm, i've always been charged a fee for everything i've sold. Quote Link to comment Share on other sites More sharing options...
Pre V Posted June 8, 2009 Report Share Posted June 8, 2009 This is definitely good news...perhaps we should all get Verified Business Accounts to enjoy such savings....substantial it may be in time.... Quote Link to comment Share on other sites More sharing options...
fotoman Posted June 8, 2009 Author Report Share Posted June 8, 2009 This is definitely good news...perhaps we should all get Verified Business Accounts to enjoy such savings....substantial it may be in time.... ok, a few things. 1. you don't NEED a business accct, i was just saying that even TO a business acct it was still free 2. this is how it used to be, transfers from banks and paypal balance was free, no fee - but there was a limit like $500 or 1000 that you could be receiving before you got bumped 3. at some point paypal started charging for everything - to the seller 4. the reason i put no fees for seller or buyer is because thats what was in the paypal "notice" that i was talking about. 5. this is awesome. so, lets say my fantasy football league needs everyone to pony up their money. we used to do it by paypal cause it was easy. Now we can't cause the fees were stupid. - but, now its back to the old way 6. taking $$ off a credit card costs somebody at least 1.5%-3% so, paypal isn't going to eat that. although they may have back before internet bubble. this is a great thing for folks who occasionally sell a watch they won't have to deal with the stupid fees. Finally, exchange rates - i have no idea, that is what it is. Quote Link to comment Share on other sites More sharing options...
oberblender Posted June 8, 2009 Report Share Posted June 8, 2009 just to get involved. I HATE PAYPAL! For no rational reason I was not able to add my bank account to a new paypal account after I deleted it and opened a new one after a few months.. I called the hotline, but they said that I deleted my account 3 times with the same banc account, so they can't do anything about it.. I'd need a new bank account. Yes, I deleted the account 3 times.. but over a period of 3 years... and it never said you are not allowed to delete it or your bank account won't work anymore. Once I deleted it because I was really [censored] because of their extremely different exchange rate... they say sending the money is free.. haha... 2-3% difference in the exchange rate are definately not "sending money for free". So I called and asked why the exchange rate was so different. I didn't get an resonable answer... They only told me that they change the rate twice a day... what of course wasn't what I wanted to know. So I asked again and they really got unfriendly... But that's not all... after a while I wasn't even able to pay by credit card anymore... god knows why... I never had any problems with payments... I always payed, never had a dispute or anything... so this is completely unfair... After all... even if I wanted to use paypal... I couldn't because neither my bank account nor my credit card work with paypal anymore... I don't want to use paypal anymore... but unfortunately many people only want to deal with you if you pay by paypal... Quote Link to comment Share on other sites More sharing options...
KB Posted June 9, 2009 Report Share Posted June 9, 2009 Can someone elaborate on this maybe?? Why is $1.00 USD = $1.12 CAD (via www.xe.com) but then why is $1.00 USD = $1.16 CAD (via www.paypal.com) THAT IS AN OUTRAGEOUS DIFFERENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I took Paypal to task on this once and they came back with "Our exchange rates are calculated every hour and so obviously more correct than my source" I replied that my source was Xe.com the most widely used currency calculator on the net and that in fact Paypal rates are often higher than what the actual exchange rates hit on any given day! Never got a reply to that one. Ken Quote Link to comment Share on other sites More sharing options...
DavidBreitling Posted June 9, 2009 Report Share Posted June 9, 2009 I took Paypal to task on this once and they came back with "Our exchange rates are calculated every hour and so obviously more correct than my source" I replied that my source was Xe.com the most widely used currency calculator on the net and that in fact Paypal rates are often higher than what the actual exchange rates hit on any given day! Never got a reply to that one. Ken Again for those who do not live in a USD world, banks have been charging 3%+ exchange rate differentials on credit and debit card transactions in currencies other than the "home" currency. Understand that banks, and likewise Visa, MC, Amex etc. have been in this racket since the beginning. Its why credit and debit cards are SO profitiable for banks, not just the 18%+ interest rates. I was at a retailer today, and he said to reverse a credit or debit transaction, his bank charges him 5%!!! My answer, own bank stocks, just not the flaky US kind, they lend to anyone with a pulse, or used to and as a result F&%$Ked up the entire banking system. Oh, I worked in the banking industry at an executive level for 30 Yrs. so I know what I am talkin' about. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.