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Complete rip off with outrageous fees

Person orders product from us. Invoice is $6,128.05. The take 2.9%. Oh but wait, we paid for the ‘privilege’ of a Virtual Terminal. Now we have the honour of paying 3.1% + $0.30. Now since we have 2 paypal accounts and a US Bank account on US Soil, and our paypal accounts have Canadian addresses, we further have the honour of paying another fee. That fee is $201.00 to transfer the funds from our paypal account to our U.S. Bank in New York State. The total of which is 7.2% of the total amount of the Invoice. We work on a very low profit margin. This is unacceptable. We have to now refund the customer the total amount of the invoice since we cannot work for nothing.

I really hope someone cleans paypal. Totally cleans them.

Posted: October 26, 2012 at 2:16 pm

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3 thoughts on “Complete rip off with outrageous fees
  1. Anthony D on

    PayPal may not charge you monthly fee (I think they do when you use the virtual terminal however) but all other fees wit they are outrageous. I don’t know how they calculate conversion rates but it is never of any rate that I am aware of always much higher. Plus you never know when they might limit your account and put a stop to your cash flow.

    Reply
  2. russell on

    I’m a small 1-man consulting business. A client asked me to submit my invoice via PayPal. I went through the hassle of setting up the account and submitted the invoice. The amount exceeded $1000 and so PayPal suspended the account until I provided identification documents. This all took hours of my time and the payment was significantly delayed. Now I’ve just discovered that the paid amount doesn’t match my invoice. I found out that the client’s accounts payable department have instructed contract admin folk NOT TO REVEAL THAT FEES WILL BE PAYABLE IF SERVICE PROVIDERS USE THE PAYPAL OPTION. No additional fees would be payable by me if I simply submitted my standard invoice. The fee was 2.4% This is a very devious practice by PayPal and other large corporations who want the service but not pay their own cost of doing business. Outrageous

    Reply
  3. J on

    This is ridiculous. I managed to redeem two iPod Shuffles with my rewards points. I sold them both on eBay because I have no use for them. The total outcome was $61.99 after fees were subtracted and shipping costs. That is ridiculous, it’s like giving away an iPod Shuffle. I don’t understand why PayPal would charge me a 10% fee to RECEIVE money, when the person who purchased the items buy it for free. No tax, no nothing for them.

    Reply