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Posted by: medali at February 28, 2002, 12:58 pm

Topic: PayPal... OH... MY... GOD...!!! Internatinonal accounts. Forum: Winner Online

Gaijinsan:

Paypal is providing you with a service - transferring money from you to whoever you want to pay. If they didn't charge for their service how could they afford to stay in business?

Why is it more expensive for Paypal to transfer money for people living outside the U.S.? I haven't got a clue. All I know is, no matter who you're dealing with, if you want to purchase goods and services from outside of your own country you have to expect to pay a premium for it. That rule applies whether you're dealing with Paypal, a credit card, or a bank. Sorry, that's just the way it works. (Unless you live in the U.S., in which case more people are willing to cater to you.) If you don't like it, go to your local bar and play the VLT's instead of playing online.

If what Paypal is doing could be considered fraud, then Visa would also be guilty. When a credit card company converts currency for you, they also charge you a transaction fee on top of the conversion rate. You just don't get a breakdown of it on your credit card statement, so it's not as obvious. If you want to minimize costs it is possible by familiarizing yourself with the amounts that different institutions charge you for foreign currency transactions. If you're dealing with big money you can save yourself a lot.

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