Foreign Transactions Fee

Jerlene · 05-10-2007

for PayPal ATM/Debit Card and PayPal Virtual Debit Card Usage

Notice Date: March 8, 2007
Effective Date: April 12, 2007
The Fees section in the PayPal user agreement will be amended to include the following fee: 1% Foreign Transaction Fee for cross border PayPal ATM/Debit Card payments or cash withdrawals, or Virtual Debit Card payments. This fee will apply even if the transaction does not require PayPal to make a currency conversion.

More fees. Good for PayPal, bad for us.

Was this really necessary? I didn't really notice this when it happened. Just noticed that PayPal was different today and saw that they updated their policy so I gave it a look.

Laettner14 · 05-28-2007

I think it is ridiculous to charge a fee if Paypal doesn't have to exchange currency. Even if they do exchange currency you are usually getting a poor exchange rate to boot.

computer.man · 05-28-2007

Paypal is famous for its high fees.What more can you expect from it. If paypal lowers its fees ,it will become more famous

tonydnut · 05-28-2007

The fees are charged as a security measure against those wanting to abuse the system.

Jerlene · 05-29-2007

Right but is it a reasonable amount?

ichkoguy · 06-06-2007

it is obvious that paypal charges more. More other sites should be available which will not only help us in getting more money managers like this but also due to stiff competition they will reduce the charge and also will be more efficient.

cashtaker · 06-06-2007

It's too bad, Paypal is charging more from the users. They should reconsider the fee. It will help them to keep their strong foot on internet in their department. These type of actions by paypal will give a way to other competitors like moneybookers, e-gold, ... etc.

rts47 · 06-20-2007

Because of the so many scammers they charge some money for credit card or debit card payments.Blame the scammers not paypal for these high rates.