Paypal Quietly Adds New Fees to Personal Accounts

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jcollins

I'm confused as to what you are saying there.   You are saying that there's no fee, but you verified on the Paypal site that there's a 2.9% fee as mentioned in the article?  

 

 

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bloodgain

I love when companies refuse to learn from history, good or bad.  Do you know why Visa has been so successful?  Because they don't charge the consumer -- they charge the merchant to be part of their "network".

If you make it more convenient and/or safe for a merchant to receive payments for goods or services, the merchant is willing to give you a small percentage of that sale (hey, that sounds like what Paypal was doing!).  If you charge the customer, he will just stop using your payment method.  You can already see this at places where they try to push all the costs on the consumer by charging 3% or $2.50 for all credit card transactions -- their customers will either bring cash, check, or directions to the nearest competitor.

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Queenof1

deleted because Windows Mail determined that the originating address was suspicious. Funny, I never got that warning with any other true Paypal email message. Going to read the ToS and prolly cancel my account. I dont Ebay anymore either. since now they are the same company, the seller pays several times - to list the item, final value fee, and a percentage of the total amount if being paid via Paypal.

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bandeezee

So, this mean pretty much anything you purchase from a website is going to get charged an extra 2.9%?  What a rip.  The only reason I used Paypal is so I didn't have to type in my credit card number when I bought something.  Now my bank lets me create alternate credit card numbers with limits as to how much can be spent using them and a time limit as well.

I still liked using Paypal because of the convenience, but this NEW fee is just a reason for me to start using my bank more instead of Paypal. I don't think Paypal realizes how much business this will cost them once people start becoming more aware of this fee.

EDIT: Now I"m confused, after visiting their website here: https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside.  It says that purchasing items is free.  It says you are charged 2.9%+.30USD when you make a personal transfer from your credit or debit card or Paypal credit.  So does it charge me 2.9% on new purchases or not???

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PCIV

This isn't a new fee for us Canadians because we've always been ripped off through the exchange rate anyways.

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cigar3tte

So has this always been in existence, or is this in addition to the
2.9% we already pay on goods sold?  Seems now they're charging the
buyer 2.9%, AND the seller 2.9%.  Can someone verify?

 

"Ass so fat that you can see it from the front" -- Mos Def

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jasonc

I didn't receive an email about changing ToS.  Just deleted my paypal account though - credit cards work fine anyway. 2.9% is a ripoff!

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Psybear

"We didn't want to make a huge formal communication out of this pricing
change, because we weren't really adding any fees, and we were hoping
it would be a more useful experience for people," Hill said.

Charlotte Hill is a perfect example of everything that is wrong with American business. Lying, deception and wordspeak will destroy us.

The cover up is usually worse than the mistake.  But nobody learns.

Adios, PayPal

via con diablo

 

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Andrew Perkins

If adding a 2.9% charge isn't a fee... how does it create a more useful experience for customers???

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nekollx

 well my bank account was kinda heavy

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