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Archive 2016 · Foriegn Exchange Fee -PayPal System Bug
  
 
Mike1.6
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p.1 #1 · p.1 #1 · Foriegn Exchange Fee -PayPal System Bug


I recently re-instated my Buy & Sell membership here. The cost of the yearly membership is $29.00. I paid through Paypal using my Visa Charge card. My Paypal summary says that I paid $29.00 but there is an item about the Brazil Real exchange rate and my banks credit summary says that I actually paid $29.78 and there is an additional charge of $0.89 for a foreign exchange fee.

What is going on here?

Edited on Nov 14, 2016 at 08:42 PM · View previous versions



Nov 14, 2016 at 06:33 PM
Mike1.6
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p.1 #2 · p.1 #2 · Foriegn Exchange Fee -PayPal System Bug


Evidently PayPal is having an issue with some of their customer accounts. The bug is automatically converting payments to the Brazilian Real. Paypal then charges a conversion fee and usually your bank will charge a foreign exchange fee. In my case, the FM Buy & Sell subscription fee of $29.00 was converted to the Brazilian Real (added $0.79) which went to my credit card and then my bank added $0.89 exchange fee.

In any case, the Paypal service rep told me that I should have seen the added charge at the time I was initiating the transaction. I didn't notice them but I may have just pencil whipped the thing since I've done it before.

Be aware, this bug is affecting other PayPal users. They are working on the problem but you can avoid having to call to get the charges removed by noticing what charges are being added when you send the payment through.



Nov 14, 2016 at 07:17 PM







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