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Canadian Paypal classaction lawsuit
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Started by CycloneComics,

37 posts in this topic

porcupine48

porcupine48

Posted
Posted
2 minutes ago, lizards2 said:

So when I charge you $40 USD, you get stuck paying $42 USD, and I end up with $36 USD?

Something like that.I have to make sure that the one i'm sending money to gets what currency i'm sending too.Sent US dollars to a UK boardie once and PP changed the money to pounds.Have had US dollars sent to me changed to loonies as well...

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lizards2

lizards2

Posted
Posted
1 minute ago, porcupine48 said:
7 minutes ago, lizards2 said:

So when I charge you $40 USD, you get stuck paying $42 USD, and I end up with $36 USD?

Something like that.I have to make sure that the one i'm sending money to gets what currency i'm sending too.Sent US dollars to a UK boardie once and PP changed the money to pounds.Have had US dollars sent to me changed to loonies as well...

Sounds like I should'a charged you $45....,

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rogue14

rogue14

Posted
Posted (edited)
25 minutes ago, porcupine48 said:

Something like that.I have to make sure that the one i'm sending money to gets what currency i'm sending too.Sent US dollars to a UK boardie once and PP changed the money to pounds.Have had US dollars sent to me changed to loonies as well...

It’s  happened to me before too.

Yea, I think PayPal automatically converts the currency to match the location your sending it to. 

Edited by rogue14
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VintageComics

VintageComics

Posted
Posted (edited)
5 hours ago, porcupine48 said:
5 hours ago, lizards2 said:

So when I charge you $40 USD, you get stuck paying $42 USD, and I end up with $36 USD?

Something like that.I have to make sure that the one i'm sending money to gets what currency i'm sending too.Sent US dollars to a UK boardie once and PP changed the money to pounds.Have had US dollars sent to me changed to loonies as well...

What happens is that if you DO NOT choose the fund the recipient gets, they get what Paypal chooses.

So if you send $10 US and don't choose the outgoing funds, the recipient (in this case Canadian unfortunately ;-p ) gets approx $12.00 CAN (1.20 exchange from US to CAN when it would normally be 1.24 so Paypal takes a few cents on the dollar).

Except they might have wanted $ US and in that case would have received $10 US instead.

Now, if they have $ CAN in their account, they will likely need to pay for their next eBay purchase in $ US and so now they pay with the $ CAN they have and Paypal once again takes an exchange premium so they lose 3-4% in the other direction as well.

Boom. Paypal has double dipped into your wallet...without anyone realizing it.

It used to be that when someone sent $ US I received $ US.  That is no longer the case.

Some executive somewhere realized there was wool to be pulled over people's eyes so they mucked with the exchanges and even had the gall to call it a glitch.

This is apparently the way of doing business in the common age.

Now, if you don't specifically ask for the recipient to receive $ US they don't. And Paypal makes money in all directions.

That used to be called robbery when I was a youngin'

The red circle on the right (the 2nd circle) is the important one:

image.thumb.jpeg.e0d313f8822a61424ee64fbed891506f.jpeg

 

Edited by VintageComics
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rogue14

rogue14

Posted
Posted (edited)
7 hours ago, VintageComics said:

What happens is that if you DO NOT choose the fund the recipient gets, they get what Paypal chooses.

So if you send $10 US and don't choose the outgoing funds, the recipient (in this case Canadian unfortunately ;-p ) gets approx $12.00 CAN (1.20 exchange from US to CAN when it would normally be 1.24 so Paypal takes a few cents on the dollar).

Except they might have wanted $ US and in that case would have received $10 US instead.

Now, if they have $ CAN in their account, they will likely need to pay for their next eBay purchase in $ US and so now they pay with the $ CAN they have and Paypal once again takes an exchange premium so they lose 3-4% in the other direction as well.

Boom. Paypal has double dipped into your wallet...without anyone realizing it.

It used to be that when someone sent $ US I received $ US.  That is no longer the case.

Some executive somewhere realized there was wool to be pulled over people's eyes so they mucked with the exchanges and even had the gall to call it a glitch.

This is apparently the way of doing business in the common age.

Now, if you don't specifically ask for the recipient to receive $ US they don't. And Paypal makes money in all directions.

That used to be called robbery when I was a youngin'

The red circle on the right (the 2nd circle) is the important one:

image.thumb.jpeg.e0d313f8822a61424ee64fbed891506f.jpeg

 

So what your saying is send USD only so the recipient gets USD as well? 

What if the recipients location does not use the USD? PayPal changes it automatically to convert the funds whether it be Canadian dollars, Pounds, Euros, etc.

I thought when purchases are made you had to send the funds in the correct currency to finalize the purchase.

Edited by rogue14
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comicwiz

comicwiz

Posted
Posted

When I setup my PayPal account back in 2000, I set it up to receive USD. I did this because every sale or purchase I made was in USD funds. The only exception was when a boardie here, who I had always sent USD funds to on deals, and even returned a book to him he had accidentally sent to me, reneged on a deal where I'd already sent him USD, but since the Canadian dollar was slightly stronger, refunded me and wanted USD. 

Because of the way my account was setup, including having a US based bank to transfer, and linked to my Canadian based USD account to avoid conversion, I believe I avoided a lot of the nonsense Canadians experienced with PayPal. 

That said, more recently, I have been forced to transfer using PayPal's conversion, which is always a higher exchanged rate than banks. 

I'm interested to see what happens with this case.

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TheRealVenom

TheRealVenom

Posted
Posted

It does suck. I'd like to get in on this as well.

I have my paypal account set up to receive american money and canadian money.

When an american buyer pays me (Which isnt often) With the friends and family option, then i receive american funds, no problem. But when an american buyer pays an invoice iv'e sent the money I receive transfers into canadian funds and whatever paypal's insane conversion rate is. I end up always losing money even after having to charge my buyers a 4% paypal fee.

You think this is bad? you should really check out what a giant turd of a rip off USPS is.

I have a friend who lives in Arizona, we constantly buy sell and trade to eachother.  The cost of for him to send me 2 slabs via usps priority mail is around 50$ us funds or around 65 canadian. The cost for me to send him 2 slabs via canada post priority is roughly 28$ canadian funds. Someone needs to explain that one to me lol

Not to mention the complete and total joke Canada boarder services is. Seems like every package I receive from the USA is flagged for customs these days. even if its only a 30$ slab. I get hit with tax (HST) and a good ole $9.95 handling fee (Aka we slapped a bill on here and charged you 10 bucks for looking at a box)

all in all it's almost impossible for me to buy from the states anymore.  Your $50 price tag on any given slab ends up costing me double usually but i'm getting off topic...

They paypal thing is what it is, I understand they need to make money too but feel this past update was a shady way to skim more out of me... 

sorry for the rant!

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VintageComics

VintageComics

Posted
Posted
3 hours ago, rogue14 said:

So what your saying is send USD only so the recipient gets USD as well? 

What if the recipients location does not use the USD? PayPal changes it automatically to convert the funds whether it be Canadian dollars, Pounds, Euros, etc.

I thought when purchases are made you had to send the funds in the correct currency to finalize the purchase.

Most Canadians like to receive $US because most of our purchases and sales are done that way.

I can't speak for everyone.

Just like @comicwiz, I was set up to receive $US but now it only arrives as such if the $US buyer does the extra step by choosing $US as the funds the recipient receives.

Paypal has added that extra step to hoodwink people in an effort to skim a little extra from unknowing sellers.

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Timmay

Timmay

Posted
Posted
16 hours ago, porcupine48 said:

Oh,it gets the buyer! too.

Yes.

The eBay estimated cost in US $$ is based on current US to Canadian exchange rates.

PayPal charges about 3% more than that.

The difference adds up quickly on bigger ticket items.

F:censored:ers

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lizards2

lizards2

Posted
Posted
37 minutes ago, Timmay said:

Yes.

The eBay estimated cost in US $$ is based on current US to Canadian exchange rates.

PayPal charges about 3% more than that.

The difference adds up quickly on bigger ticket items.

F:censored:ers

It almost makes me think paypal is run by Canadians, as I thought they are the ones that like to screw over Canadians the most. 9_9

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rogue14

rogue14

Posted
Posted
2 hours ago, VintageComics said:

Most Canadians like to receive $US because most of our purchases and sales are done that way.

I can't speak for everyone.

Just like @comicwiz, I was set up to receive $US but now it only arrives as such if the $US buyer does the extra step by choosing $US as the funds the recipient receives.

Paypal has added that extra step to hoodwink people in an effort to skim a little extra from unknowing sellers.

Interesting. Makes sense.

I’ll have to keep that in mind. I’m always told to convert by the seller. Guess they don’t know about the extra charges.

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jhutton2

jhutton2

Posted
Posted
6 hours ago, VintageComics said:

Most Canadians like to receive $US because most of our purchases and sales are done that way.

I can't speak for everyone.

Just like @comicwiz, I was set up to receive $US but now it only arrives as such if the $US buyer does the extra step by choosing $US as the funds the recipient receives.

Paypal has added that extra step to hoodwink people in an effort to skim a little extra from unknowing sellers.

This 

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Fantastic Thor

Fantastic Thor

Posted
Posted (edited)

I hope this goes through

Paypal has fees on top of their fees..

My favourite is they charge you a poor exchange rate, then charge you a fee for converting your funds..

Now the banks charge you a point... But Paypal charges you 2 points + then a fee to change the currency PLUS whatever fees for selling etc.. But they "claim" to use the prime rate on currency .. but forget to mention the amazing fees.

What they are doing is close to illegal and their hidden fees are in  38 page Canadian fee document which is their "get out of jail free card"

https://www.paypalobjects.com/webstatic/en_CA/ua/pdf/ua.pdf

 

Feel free to read on a sunday ... Fees on top of fees ...

 

Oh and adjustments may be made without notification .... How convenient.

 

 

 

 

 

 

Capture.PNG

Edited by Fantastic Thor
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