Paypal are thieves!

@android (895)
August 6, 2009 6:01am CST
I just received a payment for $10.81 via Paypal which, according to my account, did NOT incur any fees. However, after the balance was added to my account I am now £1.84 worse off! Yep, they've actually lowered my balance by £1.84 instead of crediting it by £5.96. So now each time I receive money by Paypal I'm actually going to be worse off. Anyone got any idea what the hell is going on?
2 people like this
22 responses
@vklancer (135)
• India
6 Aug 09
just check the rules. i think there is a fee for every transaction,yes it is sad but we can do nothing,as they state all that fee particulars in their rules.the fee also depends on what type of membership you have.so just check the terms and conditions once.
1 person likes this
@android (895)
6 Aug 09
No it's a personal account with no limits and it's completely verified. There are no fees. Also, it shows in the transaction details that there are no fees and says I have been credited with the amount of £5.96 - which I haven't. I've actually lost £1.84.
1 person likes this
@benny128 (3615)
6 Aug 09
strange as I have a personal verified account with paypal, and any transactions I have recieved have always incurred a fee as paypal need to make money I suppose.
1 person likes this
• United States
7 Aug 09
I definitely incur fees for every transactions that I do and my paypal account is verified and everything like that.
@amitavroy (4819)
• India
6 Aug 09
yes as far as i know there are charges on trans. but then it is deducted from the person who is sendign the amount and not the person who is rec. the amount. may be you can contact them and get it clarified. they have a very prompt service. i am sure about that.
1 person likes this
@android (895)
8 Aug 09
A lot of people seem to have this opinion, but really Paypal is the most convenient and easiest way of receiving payments online for me.
• Lithuania
7 Aug 09
Well sorry to hear that,but everyone knows that paypal sucks donkey balls...but everyone still uses it you tryed contacting them,if you didin't don't bother i think they will say "we will do everything in our power bla bla bla" trust me they won't do anything :D Their name stands for them couse you're going to pay pal you're gonna pay...
• India
6 Aug 09
I have been using paypal for many years now. I didn't face any problem regarding improper fees. Yours problem may be linked with the source from where your money comes. Site which pays you may incur some fees on paypal which in turn is reflected on your account.
1 person likes this
@android (895)
8 Aug 09
That's what I thought, so I contacted the company but as stated above, the company say that they actually pay all the currency conversion fees for you!
• Canada
6 Aug 09
Won't the exchange rate come into play here? If the USD fell or rose against the pound, then that will have an impact.
1 person likes this
@android (895)
8 Aug 09
Yes, but the conversion fees were paid by the company that made the payment, that's why it's not showing any fees in the details of the transaction.
@dlr297 (5409)
• United States
6 Aug 09
That is exactly what i was thinking TremendousMachine, The exchange rate would factor in to the transaction between the us dollar and the pound.
1 person likes this
• Malaysia
6 Aug 09
I have been using Paypal for two years now, and yes, there is a withdrawal fee incurred should you wish to withdraw some funds. In my country, they will deduct $5.00 from my account. There was one time I was so surprised when I wanted to withdraw some money, they stated the withdrawal fee in our currency, RM16.00. I thought it's the new policy or something, so, I sent them an email. I received their reply within 48 hours and explained everything in detail. It was actually the same amount, but since I have gotten used to see the dollar sign, I have overlooked on the symbol. I thought it was $16.00. So, my advice to you is to contact them directly for further clarification.
1 person likes this
@android (895)
8 Aug 09
I haven't actually withdrawn any money, they only charge me for that if I withdraw less than £50 - anything over then there's no fee. Also the company that made the payment said that they pay the currency conversion fee.
• Malaysia
8 Aug 09
Oh, I see... In that case, go ahead and contact them for clarification. I am sure there is someone who will attend to your case. Good luck!
@fchalida (196)
• Indonesia
6 Aug 09
What i know is, if you have balance in paypal account under US $100 and you want to added to your real account at bank you got fees from bank. So, if your paypal account $10,81 it is very much to lose. So, i guess you should wait until your paypal account at least $100 (i prefer upper then $100)
@android (895)
8 Aug 09
Yep, there's a few for withdrawing less that £50. I haven't actually withdrawn any of the money though, it's still in Paypal.
• Philippines
7 Aug 09
The best thing that you can do is open a dispute about it so they will study your case. I haven't experience such with Paypal since I started using it. From what I know there is difference with personal accounts and business accounts, so I would like to ask what account do you have with them? If you have business account that's most likely the reason, it has fee for every transaction made. If its personal account then there's no reason to cut any fees on your sent money. Only the best thing you can do is contact them or open a dispute
@android (895)
8 Aug 09
No it's a personal account. The only fees are for currency conversion (which were paid by the sender) and a charge if I withdraw less than £50 (which I haven't). I have done as you suggest and opened a dispute. Haven't heard anything yet though. I'm sure I'll get on top of it in the end, I know Paypal went down a few days ago and nobody could use the service due to a glitch, maybe that's got something to do with it.
• India
6 Aug 09
I know its really annoying, its better you look through the FAQ section this might help or else you contact the company which payed you that amount. They might be knowing it. Or else try searching in some forums there you might get the answer for your questions.
1 person likes this
@sarojInc (570)
• India
6 Aug 09
Its really a bad thing,I've never heard such sorta thing.you must look oout for the reason for this deduction .You must always check their policy regarding countries and cash transfer to.Hope it will be solved quickly. local bank
1 person likes this
@android (895)
6 Aug 09
I doubt it will ever be sorted, which is a shame because I was planning on drawing out a few hundred pounds this week to put towards buying a car - obviously they're just going to steal it, so now I have no way of drawing the money out. I doubt it will ever get resolved, big organizations generally get away with petty theft - there's not much I can do except warn everyone of what they are up to and recommend that everyone stays well away.
1 person likes this
@sunny68 (1327)
• India
8 Aug 09
there is always a fees involved. either you have to pay or the one who had sent you has to pay the fee. in such case it is possible that the amount was sent after deducting the fee. maybe there were other transactions in your account check your transaction history. you can also raise a 'payment dispute' issue, resolving of which will take some time. generally paypal is foolproof and mistake on part of paypal is somewhat unlikely. but you never know.
• United States
7 Aug 09
Wow that pretty strange I don't know what to say friend.
• Pakistan
6 Aug 09
Open a account in alert pay. Service and Fee for personal account is Free. https://www.alertpay.com/EarnMoney.aspx# Regards Iftikhar
1 person likes this
@grundmang (112)
• Israel
6 Aug 09
mail the paypal support theyll fix it or explain it
1 person likes this
• United States
6 Aug 09
PayPal has its fees. You can log in and find it. The best bet is to watch where your money is comming. For example if someone pays you with a credit card, there is a fee. But from what I know, if someone pays you with a paypal balance , there is no fee. Read up on it.
1 person likes this
@subha12 (18441)
• India
7 Aug 09
I am using it since two years. In my case they only take charges, when I transfer balance to my bank account. I am not sure why you had this deduction. ask the customercare.
@jlamela (4898)
• Philippines
7 Aug 09
So far I did not experience that. My transaction with paypal is a smooth one, paypal currency converter is not the same as in the bank or in moneychanger, they have their own rating, then another amount is being deducted to your earnings after the conversion, a processing fee, then your bank will also deduct.
• United States
7 Aug 09
First of all, do you have a Paypal debit card? And second, do you order items online? The problem may be that you've ordered something online recently and that company that you ordered from is taking out fees from your paypal account. Remember that your paypal account is linked to your regular bank account. If you used your regular account on a purchase and did not have the complete funds for that purchase on that account, paypal fills the remainder. I suggest that you call paypal at 1-866-888-6080 and speak to a customer service rep. Good Luck!
• Boston, Massachusetts
7 Aug 09
i am just new to mylot and this news scares me. i am from the philippines and a friend of mine is about to reach her goal to receive mylot payment... i just hope this will be attended to.
• United States
7 Aug 09
Depending on what type of transction happens, they do charge a fee. Maybe with conversion of money they take out more? Good luck. Hope you get this settled.
• Cebu, Philippines
7 Aug 09
It is FREE to send money but there is a fee if you RECEIVE money with PayPal. Maybe you missed reading the TOS.