PPC Submitter : Sunday, May 1, 2011, 21:03
Foreign Transaction Fees Not Disclosed
I bought several books from a UK bookdealer. I understood that I was paying an exchange rate for changing the money from dollars to pounds. What Paypal does not disclose is that since they use foreign banks to do this your credit card comapny will also charge you a fee on top of this, called a foreign transaction fee. This is for Paypal using a bank that is not a US bank for this transaction.
This is not disclosed anywhere on the Paypal site so there is no way to know this in advance. When I called to ask about it the first person just kept repeating herself and telling me what Paypal charged me. It was extremely frustrating. I would have used something else beside Paypal if I knew of this additional fee from my credit card company.
Submitted By:: SLS
Location: Laurel, MD USA
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Ha! Foreign fees are not all they don’t disclose, I can tell you that much. I thought paypal was a user friendly cheap way to accept payment for my business, I was wrong. It turns out not only does paypal charge but eBay puts in their two cents as well. Sure if you want your item to go all the way to the bottom it’s dirt cheap, but they nickel and dime you if you want to add photos, detailed descriptions and so on. At least with a merchant account they are giving you the upfront cost… paypal and eBay just hide everything under glossy headings and fancy footwork.