PayPal cheats on exchange rates – hidden fee!!
Every time I make an online purchase priced in USD (I’m Canadian) PayPal pads the exchange rate by 2.5% – EVERY TIME. This likely applies to all non-USA PayPal users. One user in Thailand reported that PayPal increased his purchase cost by padding the exchange rate 14%!! (the true rate was 65 Baht per sterling Pound, but they credited him only 56 Baht)
So in addition to all their fees to the seller, PayPal DOES also charge the buyer despite claims to the contrary.
Submitted By:: Paul
Posted: February 20, 2012 at 6:57 pm