The wonders of PayPal

[rsser]

Just paid for something from the US with PayPal.

The official rate was one buck to their 69-70 c. PP gave 67 c. Grr.

Then they sent me an email:

We are depositing 0.01 AUD into your PayPal account to correct a foreign exchange reversal processing error which has now been resolved.

Your transaction was one of a small number of transactions that was affected.

We sincerely apologise for any inconvenience this may have caused you.

We want to reassure you that PayPal takes great care in ensuring that all transactions occur seamlessly and we regret that on this occasion you were affected. We have credited the amount back to you, plus 7.5%, as a gesture of goodwill.

Big of them.

[Big Shed]

Just paid for something from the US with PayPal.

The official rate was one buck to their 69-70 c. PP gave 67 c. Grr.

Then they sent me an email:

We are depositing 0.01 AUD into your PayPal account to correct a foreign exchange reversal processing error which has now been resolved.

Your transaction was one of a small number of transactions that was affected.

We sincerely apologise for any inconvenience this may have caused you.

We want to reassure you that PayPal takes great care in ensuring that all transactions occur seamlessly and we regret that on this occasion you were affected. We have credited the amount back to you, plus 7.5%, as a gesture of goodwill.

Big of them.

Ern, you will find that you don't get anywhere near that exchange rate from Visa or Mastercard, then on top of that they slug you for a "foreign exchange fee".

The official quoted exchange rate, ie in the daily paper, us poor consumers never get, it is only used between banks.
Try to go in to the bank and buy a foreign currency bank draft and see what they quote you (plus $15-$20 fee) or exchange actual foreign currency

Just as well they rounded your credit UP, otherwise you wouldn't have received anything!

[mjmjm]

I got a five cent refund. Plus 7.5%
Now I'm trying to find something on ebay that costs 5.0375 cents, including postage.

Michael

[Ed Reiss]

This sort of thing works the other way also. Ordered the Nova Sharpening Centre last month (it was on sale). Turns out that it was sent from Tennesse and it arrived quickly. Then I found a $3.00 Foreign Transaction Fee added on to the base cost....last I looked Tennesse was still in the Union...maybe I missed something!!!

[echnidna]

Sounds like they thought it was Tennessee China

[44Ronin]

This sort of thing works the other way also. Ordered the Nova Sharpening Centre last month (it was on sale). Turns out that it was sent from Tennesse and it arrived quickly. Then I found a $3.00 Foreign Transaction Fee added on to the base cost....last I looked Tennesse was still in the Union...maybe I missed something!!!

Payback for secession?

[AlexS]

Bring on the revolution, I say!