How I lost $45 at PayPal

Another paypal s** Story.

I had requested withdrawal on 10th December 2006 of amount 1k . Normally paypal issues check within 4-6 days. But even after 10 days my status was showing "Processing" and I mailed them. They replied me but there was no relation between my problem and their answer. I keep mailing them and got same reply.

After 47 days, Today they refunded amount to my account. It was full refund but I lost $45 just for exchange rate difference.

Cost of one and half months Waiting = -$45

Paypal s**

 

Another event that sucks

Hope it does not happen again to you

 

Now here more info how paypal s** and make us fool.

When they refunded they shows transcation rate:

Exchange Rate: 1 Indian Rupee = 0.0220379 U.S. Dollars

That is equal to INR 45.37637434 = 1 U.S. Dollars

Here is 100s of Indian PayPal user. One question to them: Have you ever got exchange rate of 45.37637434 even 44.xx

 

That's why paypal sucks. I wish money bookers and egold ripp their .... off. So that paypal learn something. Sorry to hear that YIAM. Paypal should seriously consider WTF they are doing with their users.

 

Well, I have requested another withdrawal just within 2 hours of their refund and now look at the exchange rate:

Exchange Rate: 1 U.S. Dollar = 43.1357 Indian Rupees

The exchange rate difference in 5%. And no such thing happend in this world that exchange rate will change by 5% in two hours.

They are earning 5% just from exchange rates?

 

Paypal sure do suck, but if you are a frequent ebayer, people there only accept Paypal 99% of the time, so in a way we're forced to use it.

Just out of interest, what other decent alternatives do we have?

 

Well that sounds like paypal is stealing your money. Isn't it?

 

That's what I am feeling.

I can't forget those one months..

 

Do not withdraw over about $1000 on one go

Withdraw in $500

After I got my first check I never withdrew via paypal

All my payments have been routed to Xoom

 

How do you route your paypal payments to xoom?

 

First of all u did a mistake... its lately happening that processing status are taking time to change. But they do change if not after 10 days but for sure after 20 days.

One needs to wait when you know all/most of indian pp users are facing this problems.

 

Not, 10, 20, 30 or 40 days, its 47 days. I got check which was requested on 27th December.

I think they have some technical problem and check was not issued at all.

But what will you say about their transaction rate???

5% difference in two hours

Have you ever get transaction rate like Rs 45.xx/USD

 

What is Xoom and how you routed it? It is the better way then I'll sure join you.

 

I got my check after 45-50days too. We can't help it. Regarding the transaction rate difference, I am shocked to see this.

 

PayPal has so many fraudsters that it hurts. Unfortunately, their API is soooo easy to use that it makes good business sense for us to use it in the short term until our coders get our online merchant account into the mix. Sigh... I love chargebacks...

 

TWO shocking things for me.

 

If you see the Fees page at http://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside which was something you agreed upon when you used Paypal, it states that they will tag on a 2.5% fees to the exchange rate as part of the cross border transactions.

As to why your request for check payment was rejected, it is difficult to determine from your information, you might want to check with Paypal as to why it was not accepted.

 

What is strange and sad is we can do nothing about it nor go legal against it.
Is paypal not bound by any laws?

Lately even I have started feeling very very unsure about using paypal.

Your experience just added to my shock.

Hope everything settles down soon for you.

 

Yeah I think paypal has a hard time with non-american clients for some reason. Either that or they find those people easier to scam.

 

To clarify:
Xoom doesn't work anymore, it used to but it doesn't any more. They don't process intra-india transactions & they check your paypal account's country (this is how they find out). Remit2india is a cheap & fast way to get paypal funds if you know someone in the US who is willing to let you use their identity & ssn.