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PayPal Premium: Feel ripped off...
Thread poster: Marketing-Lang.
Marketing-Lang.  Identity Verified
Germany
Local time: 02:55
English to German
+ ...
Nov 12, 2004

Hi,
I'm in two minds about psoting this because it's basically down to my own stupidity...

I opened a PayPal account because you can send money overseas for FREE, receive money from overseas for FREE, do this for FREE and that for FREE !!!

Well, I just got clobbered for 4% of a multi-thousand Euro transfer. Why? Because I didn't read the small print

I upgraded from a Basic account to Premium. BIG MISTAKE!

Whereas everything is FREE with a basic account, the Premium account hits transfers from overseas with a 4% fee!

Why do I fee ripped off? Because the offer to upgrade to Premium does not *sufficiently* warn of these disadvantages, in my view.

ALWAYS READ THE SMALL PRINT.
Should know better at my age
Frustrated,
-M-


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Henry Dotterer
Local time: 20:55
SITE FOUNDER
There is a way to get rates down, too Nov 13, 2004

Paypal does a pretty good job of hiding the option, but if you look hard enough you will find a way to apply for a reduced rate (2% or so?), provided you receive a certain minimum of payments ($1500?) per month. For businesses, this makes PayPal competitive with traditional merchant accounts.

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Marketing-Lang.  Identity Verified
Germany
Local time: 02:55
English to German
+ ...
TOPIC STARTER
What's good about PayPal is... Nov 13, 2004

@Henry; you're quite right, Paypal does have its advantages.
I have now reverted to a "Basic" account that lets me receive up to USD 1000 or Euro 850 per month for free.
True to the motto "Horses for courses", Paypal is great for international Ebayers and smaller amounts of money.
Not for setting larger amounts, though. That's when the 4 % crops up (ouch...).
-M-


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Vittorio Preite  Identity Verified
United Kingdom
Local time: 01:55
English to Italian
+ ...
You get done anyway. Nov 14, 2004

My English bank has just charged me £ 35 for a payment coming from Italy of £285. Net into account £ 250. Hurray for the banking system!
I have just joined PayPal. Will it be any better?


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Lindsay Sabadosa  Identity Verified
United States
Local time: 20:55
Member (2004)
Italian to English
+ ...
Not so sure. Nov 17, 2004

While I can't speak for the UK, I know my bank here doesn't charnge fees to send money. I love my bank!! I'm not so sure about Paypal though. The fees drive me nuts. The best thing in the world is a good old-fashioned check! (That doesn't bounce of course ...!)


-Vittorio- wrote:

My English bank has just charged me £ 35 for a payment coming from Italy of £285. Net into account £ 250. Hurray for the banking system!
I have just joined PayPal. Will it be any better?


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Nazim Aziz Gokdemir  Identity Verified
Local time: 20:55
English to Turkish
+ ...
Would love to get the name of your bank... Nov 18, 2004

LSabadosa wrote:
While I can't speak for the UK, I know my bank here doesn't charnge fees to send money. I love my bank!! I'm not so sure about Paypal though. The fees drive me nuts. The best thing in the world is a good old-fashioned check! (That doesn't bounce of course ...!)


...if you don't mind. Especially if they have an online banking operation.

Aziz


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Marketing-Lang.  Identity Verified
Germany
Local time: 02:55
English to German
+ ...
TOPIC STARTER
moneybookers.com Nov 18, 2004

These guys seem to offer an interesting alternative to Paypal.
International transfers cost just 1% but a maximum of Euro 0,50. Withdrawing money from your virtual account to a proper account does cost Euro 1,80, though. It seems that the sender also has to pay something. I still have to get stuck into the small print, though...
-M-


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Samuel Murray  Identity Verified
Netherlands
Local time: 02:55
Member (2006)
English to Afrikaans
+ ...
Read the forums about moneybookers Nov 19, 2004

Mike Hodshon wrote:
These guys seem to offer an interesting alternative to Paypal.
International transfers cost just 1% but a maximum of Euro 0,50. Withdrawing money from your virtual account to a proper account does cost Euro 1,80, though. It seems that the sender also has to pay something. I still have to get stuck into the small print, though...


The thing with moneybookers is not in the small print. I have unsuccessfully tried to register myself for sending money. No go. Search the forums for other comments. Moneybookers does deal with more countries, but there are snags nonetheless (just know them).


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Sonya Gerisch  Identity Verified
Local time: 20:55
Member (2004)
German to English
My Paypal experience Dec 1, 2004

Hello all,
I was hit with a major fee for getting a Paypal payment in Euros after upgrading as well.
I decided to open another basic account for smaller amounts and for larger amounts I tell my customer to just send me a check in Euros. It is a bit of a hassle because I have to physically take the check to the bank and then wait for the funds, but it is a lot better than the hefty fees charged by Paypal.
I use a credit union and they don't charge me anything for foreign checks other than the bit I am sure they take off the exchange rate. The customer is happy as well, because then he doesn't have the large fee on his end for sending a wire transfer.
With Paypal, they are creaming off the exchange rate and charging an outrageous fee on top off it.
Paypal is convenient when paying for things I have ordered however.
My two cents.


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xxxHirschmann  Identity Verified
Local time: 02:55
English to German
+ ...
I use ... Dec 1, 2004

Samuel Murray-Smit wrote:

The thing with moneybookers is not in the small print. I have unsuccessfully tried to register myself for sending money. No go. Search the forums for other comments. Moneybookers does deal with more countries, but there are snags nonetheless (just know them).

... www.moneybookers.com (cheap) and www.paypal.com (expensive) without any problem.


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