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Wednesday, July 22, 2009

Paypal NOT Free Anymore: Paypal Charges Fees Already

Paypal is NOT free anymore! I don't know why but I did not change my account status and yet, the receiver is automatically charged a certain amount and as I noticed it, different rates. I still don't understand what's the rate but still, the fact is, they charge the receiver automatically. I have been with paypal for more than a year and never have I experienced being charged any amount! Why is this? I want to clarify this thing if it's really happening to everyone or just some mistake on my account. But NO, wait! See why:

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Why I tell that it is NOT a mistake on my account? The fact is, the screen shot you see above is the account of my aunt from the Philippines. I discovered the charge when I sent her 100 euros and 10 dollars separately. Both were charged but with different rates. If you can see, the $10 was charged with a fee rate of 7.41% (10.00-9.31=0.69; 0.69/9.31=0.07411= 7.41%) from the receiver's side. On the other hand, the 100 euros I sent, my aunt, who's the receiver was charged with a rate of 4.44% (100-95.75=4.25; 4.25/95.75=0.04438 or 4.44%). The thing is, the sender is never charged but the fee comes automatically from the receiver as the automatic deduction.

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My account also received some payment from a writing service that I did and I was sent $15 for this. I was able to receive finally a net amount of $14.11 which is net of $0.89 fee from me as the receiver with a percentage charge of 6.31% (I assume now that you know how this rate came out). The thing is, I can't even understand what the exact rate is. If I am planning to send 200 euros the next few days, I will not know how much my receiver would get?

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I have never been charged in Paypal before that now I am getting confused. I hope everything will be cleared to me soon. I never realized that the receiver is really charged. or was I chargd before and I just did not notice? Strange. I thing I better dig my transactions up with Paypal to understand all about these fees charged. In their site, it's still bragging the fee service but not anymore as the end point is, one of the parties who transacts is being charged!

I plan to contact the customer service of Paypal and see what information I can get and I will be sharing it here to my readers in case someone gets confuse like me. Paypal: Happy Sending, Sad Receiving!

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The details indicate that it is a "Fee"... I need to see other transactions just to make sure. And the results? Yes, various results and one conclusion: They used to be free to send and receive. Oh so bad, I never knew when this charging started but I will discover soon. As promised, I will be posting here if I can contact the customer service of Paypal fro this issue.

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My aunt's account receiving £100.00 from me in 2008 for FREE!


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This is a receipt that I have a few days back without charge as well.. Free! What happened? Now I am getting more confused!

Following is what I search a bit from Paypal caused by this confusion.

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...And quoting the explanation:

** Personal payments: Pay and get paid for expenses such as splitting the cost of dinner bills, rental charges or repay money owed.

*** If your transaction involves a currency conversion, it will be completed at a foreign exchange rate PayPal obtains from a financial institution, which is adjusted regularly based on market conditions. This exchange rate includes a 2.5% processing fee above the exchange rate, and the processing fee is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction

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23 comments:

  1. I agree that it's too bad.We are not getting any interests for the money in paypal.Can't they manage with the money they can get from the interests?

    ReplyDelete
  2. confusing.. if I remembered it correctly, one time I won on a contest and when the sender made his payment, a fee was deducted.. but when I transferred an amount to another user, there was no deduction.. hmm..

    the lady on the photo with Piolo is KC, unflattering nga ung shot nila
    Make or Break

    ReplyDelete
  3. I'm not 100% sure but I think when you initially start-up a personal paypal account you can receive a certain amount of money before they start charging you a fee. I've had a paypal account for about 3 years and they always charge a fee when I receive money. Here is what I found on paypal: (It's irritating but you do get a pretty good service for it.)

    Transaction fees for domestic payments
    It's always free to send money to friends and family when you use your PayPal balance or bank account. Fees apply only if the sender uses a credit or debit card, or if you receive any payment for goods or services. There are also:
    No monthly fees to maintain a PayPal account.
    No setup fees.
    No gateway fees.
    No fees for multiple eBay and merchant tools.
    Does not apply to Website Payments Pro or Virtual Terminal.



    --------------------------------------------------------------------------------

    Fees for receiving purchase payments

    Fees to receive payments for purchases of goods and services vary depending on monthly sales volume.

    Purchase payments received (monthly) Fee per transaction
    $0.00 USD - $3,000.00 USD 2.9% + $0.30 USD
    $3,000.01 USD - $10,000.00 USD 2.5% + $0.30 USD
    $10,000.01 USD - $100,000.00 USD 2.2% + $0.30 USD
    > $100,000.00 USD 1.9% + $0.30 USD

    ReplyDelete
  4. if this is true then its bad

    pls post the further correspondence between yourself and paypal customercare

    ReplyDelete
  5. I think it was just recently that they charge automatically to the receiver. This is suck!
    A friend transferred $5 and the amount I received was $4.50...

    Imagine that? it isn't fair! They already charge us every time we withdraw!sigh!

    ReplyDelete
  6. Actually, the fee is only charged when there is a conversion of currencies. You are not charged if you are sent money based on your default currency. If there is any other currency sent, there is an automatic conversion charge and this has been in place since the beginning.

    ReplyDelete
  7. I agree with you. There is some deduction in my money too.

    ReplyDelete
  8. Now you should go back using Okubo. LOL

    ReplyDelete
  9. I have the same issue with them where every time I received money a part is charged. Since the amount I received is small, I never bothered to try to figure out all the details.

    ReplyDelete
  10. It's not the best system, but since I only occasionally use it, I just deal with it.

    ReplyDelete
  11. Is it?
    This is really bad news for whom that earn money online including me :D

    ReplyDelete
  12. Webbielady,
    I have not used paypal for quite sometime. The last payment I received from the blog review comapy was $11, it seem like free at that time.
    Webbielady, I have the adorable award for you on my site, please take it,thanks.
    Best wishes to you.

    ReplyDelete
  13. webbielady,
    I had received $11 for blog review not long ago, seem like not deduction at that time.
    For me, some deduction is ok thinking that paypal need some income also.
    I have a cute award for you, please take it.
    Have the nice day.

    ReplyDelete
  14. I am still confused about paypal

    ReplyDelete
  15. thank for the info. i will check my account then.

    ReplyDelete
  16. sad to see we only use paypal here. I dun know other option

    ReplyDelete
  17. Thank you everyone for sharing your thoughts. Now that I have mixed and matched your opinions, maybe it's indeed the conversion that causes the reduction but my aunt already inquired to Paypal through a mail and if there is any response, I'd be very glad to share them with you.....

    ReplyDelete
  18. It's not due to conversion, I sent £430 to someone today and they ended up with like £415. Now I have to pay them more money to make it up to £430. Basically, it's cost me £450 to send $430. PayPal are greedy bastards and I won't be using their service again.

    ReplyDelete
  19. Hey guys! Thank you for passing by this post and I am glad to inform you that there is an update about this and it's about avoiding these fees we've been discussing here.

    Just click this sentence to see this new post entitled, "How To Avoid Paypal Charges? How To Use Paypal for Free Always?"

    ReplyDelete
  20. Thanks for the info- I am going to pass it on to all those paypal users I know!

    ReplyDelete
  21. I'll sue Paypal. They owed my money. They are the worst in the world.

    ReplyDelete
  22. Paypal takes 4% of any money we make, it is crazy!

    ReplyDelete

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