Re: [OM] PayNotSoPal

[Brian Swale]

Ian wrote
> Hi all
> Just got a shock on PP, sold an OM4Ti for US$480, the buyer
> has paid PP and on checking, PP has slugged me US$40 for
> the transaction ! About 8% !
> Think I can find any info on the charges ? No.
> So between what eBay and PP slug, its a thriving business for
> them.
> Cheers
> Ian B Manners
Moving money around internationally costs more money unfortunately.

I sold one of my fern CDROMs to a buyer in Oregon State and that cost me  much more than I expected.

The total price (CD + P&P) in NZ dollar terms was $73.80.
Using an on-line currency converter I have found to be reliable 
<> this converted to USD 34.50 at that time.

First, exchange rate. Instead of the current rate that I have available to me,
they use another one which cost me dearly.
Instead of 1USD : 2.13588$NZ, they used 1USD : 2.0248$NZ.
That adds up. Then they charge a fee of $NZ 3.50 for the transaction. I don't 
mind that.
So this is how they presented the data to me.

>From This Balance: U.S. Dollar Balance Amount: $32.85
Exchange Rate: 1 U.S. Dollar = 2.02490 New Zealand Dollars
Gross Amount: NZ $66.51
Withdrawal Fee: -NZ $3.50
Amount to Bank Account: NZ $63.01
So it cost me 10 0nstead of the 5% that it might have.

They can be contacted at   service@xxxxxxxxxx and



or <webform@xxxxxxxxxx>

They also wrote 
> Within the PayPal system, all funds are in U.S. Dollars.  When you send 
> money through your credit card, the funds are first converted to U.S. 
> Dollars, and then transferred to the recipient's PayPal Account.  As a 
> recipient, all funds you receive will be in U.S. Dollars. 
> 
> When you withdraw funds, it will be converted to your local currency prior to
> being transferred to your bank account that you have registered to your PayPal
> Account.  If your local bank account is not supported by PayPal, then you will
> only be able to register a U.S. bank account from a branch located within the
> United States.  Then your funds will be transferred to the bank in U.S. Dollars.
> 
> Thank you for contacting PayPal.
> 
> The International Transaction Fee of 2.6% + $.30 will no longer be charged to
> International customers who use a credit card to send a payment.  International
> Premier/Business customers who receive a payment from an account holder of
> another country will be charged a 1ross-border fee.  
> 
> This fee will be in place for all payment types, Web Accept and Instant
> Purchase. 
> 
> This fee will be in addition to the fees already in place for payments 
> received by Business/Premier Account holders. 
> 
> If you have any further questions, please feel free to contact us again.
.................................
I recently wanted to send about USD20 overseas, and looked at the various  costs of doing so. Here's what I found. (1$US = 2$NZ approx). Values in $NZ

Buy USD paper currency; $5 per transaction and the exchange rate is about  the same as on <http://www.xe.com/ucc/> if I go to Thomas Cook as money  changer. Then I have to post it, Registered mail in NZ is $10  per envelope  and it is not supposed to contain valuables or cash !! (What do they think  people want the service for ??)  Total cost = $15 per transaction includes  postage.

International Money order from my commercial bank
$25 for electronic transfer
$15 for bank draft (and that takes a month to clear as the draft has to be  sent to the recipient who takes it to his/her bank which then sends it back to  my bank for verification)

Western Union
Did not get exact details but the teller said it was more than the above and I  would have to pay postage of $3 as well

Direct payment into the recipient's bank account.
I used this 18 months ago for a lens I bought from a company in Copenhagen  and it cost me $15, and was done within 10 minutes right before my eyes at  the international counter of my commercial bank.

I now use this whenever possible when I sell my CDROMs as it also means  the buyer pays the cost and I don't have to figure out what extras they have  to pay and tell them the bad news..

Brian

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