How I go with this Paypal transaction

[JesseFrank]

My Paypal account is linked to my European credit card. When buying goods in a foreign currency the exchange is done by the credit card company.

I have now a Chinese eBay seller who has refunded me for goods that are not as described. When I bought the goods they were listed in C$, so he refund me in the same currency.

Since the listing is more than 30 days expired he can not refund but can only send money, and he sent it in 2 batches, the first before I contact eBay to remove the feedback and the second after the removal.

First batch arrived and Paypal sent me an email where I was asked to accept or deny the payment, and they informed me right away that they would cash in on a 7.5% fee. So I accepted the payment, then got the option to store it in my Paypal account in C$ or Euro. I choose C$.

Second batch arrives and get notification again, also about the 7.5% fee again of course, but I get no option to accept or deny this time. Balance in my Paypal account shows in Euro's, which is ofcourse again at an exchange rate 2.5% lower than the official exchange rate.

So if I transfer this to my bank account I lose the 9% fee plus the 2.5% negative exchange fee.

If I buy something that is listed in C$, will they exchange the Euros again to C$, with probably another 2.5% negative exchange rate, or will they use the amount of C$ I received with the 7.5% fee deducted ?

Or what is the best way to spend this money with as less as possible loss ?

I currently am holding of on a purchase which is listed in US$, as I'm afraid that they will exchange the available balance to US$ and than take the difference from my credit card.

[h90]

yes Paypal takes a lot money.....I don't like them.

[Kanata]

You do no have to pay your US$ purchase using your C$ balance. PayPal may suggest that you use your C$ because they will profit on the exchange conversion, but you can override it to another payment option. Just double check before clicking confirm payment.

[JesseFrank]

You do no have to pay your US$ purchase using your C$ balance. PayPal may suggest that you use your C$ because they will profit on the exchange conversion, but you can override it to another payment option. Just double check before clicking confirm payment.

I have it set to the option that it charges my credit card in the currency of the purchased item, but I thought it will always drain you balance available in your Paypal account and just take from the credit card what is short.

So i have received after fees 28.41 C$ but the Payapal account shows a balance of 18.14 Euro since my bank is European, which of course is a lousy exchange rate.

Now if i buy something that costs 28.41 C$, will it exchange the Euros back to C$ or take the 28.41 C$ as i received them ?

If I transfer the Euros to my Euro bank account, will the charge me again a 7.5% fee ?

[Kanata]

You do no have to pay your US$ purchase using your C$ balance. PayPal may suggest that you use your C$ because they will profit on the exchange conversion, but you can override it to another payment option. Just double check before clicking confirm payment.

I have it set to the option that it charges my credit card in the currency of the purchased item, but I thought it will always drain you balance available in your Paypal account and just take from the credit card what is short.

So i have received after fees 28.41 C$ but the Payapal account shows a balance of 18.14 Euro since my bank is European, which of course is a lousy exchange rate.

Now if i buy something that costs 28.41 C$, will it exchange the Euros back to C$ or take the 28.41 C$ as i received them ?

If I transfer the Euros to my Euro bank account, will the charge me again a 7.5% fee ?

Thank you for clarifying your situation. In your case, yes PayPal will convert your Euros to C$ & you will lose on the exchange rate.

My PayPal business account is linked to a bank account & to a credit card account. When I receive money in C$ or any foreign currency, PayPal does no conversion. It will convert only if I use my C$ to pay for a non-C$ purchase or if I want to deposit it to my non-C$ bank account & non-C$ credit card account.

[JesseFrank]

You do no have to pay your US$ purchase using your C$ balance. PayPal may suggest that you use your C$ because they will profit on the exchange conversion, but you can override it to another payment option. Just double check before clicking confirm payment.

I have it set to the option that it charges my credit card in the currency of the purchased item, but I thought it will always drain you balance available in your Paypal account and just take from the credit card what is short.

So i have received after fees 28.41 C$ but the Payapal account shows a balance of 18.14 Euro since my bank is European, which of course is a lousy exchange rate.

Now if i buy something that costs 28.41 C$, will it exchange the Euros back to C$ or take the 28.41 C$ as i received them ?

If I transfer the Euros to my Euro bank account, will the charge me again a 7.5% fee ?

Thank you for clarifying your situation. In your case, yes PayPal will convert your Euros to C$ & you will lose on the exchange rate.

My PayPal business account is linked to a bank account & to a credit card account. When I receive money in C$ or any foreign currency, PayPal does no conversion. It will convert only if I use my C$ to pay for a non-C$ purchase or if I want to deposit it to my non-C$ bank account & non-C$ credit card account.

Maybe I explained myself wrong, but my Paypal account is linked only to a Mastercard, which in return is of course linked to a European bank account, but the Paypal account isn't linked directly to the bank account.

[Langsuan Man]

If you are going to continue this then you should get yourself a Thai PayPal account which will use either any Thai Credit card or a Bangkok Bank ATM card to cover purchases. They will allow you to use your foreign credit card while your account is being approved but after that when you purchase from an Ebay seller you will be asked which PayPal account you want to use

I only got the Thai PayPal account because some sellers will only ship to a verified PayPal address which in Thailand can only be done via a Thai PayPal account

[JesseFrank]

If you are going to continue this then you should get yourself a Thai PayPal account which will use either any Thai Credit card or a Bangkok Bank ATM card to cover purchases. They will allow you to use your foreign credit card while your account is being approved but after that when you purchase from an Ebay seller you will be asked which PayPal account you want to use

I only got the Thai PayPal account because some sellers will only ship to a verified PayPal address which in Thailand can only be done via a Thai PayPal account

I have had a lengthy discussion about this with Paypal a few months ago and they allow only 1 Paypal account per email address.

Paypal confirmed to me that there is no need to open a Thai paypal account since my Thai address is registered in my European Paypal account.

Having a Thai paypal account would not clear up the issue, as then they would exchange to Thai Baht instead of Euro, which is same same but different from the issue this thread is about.

[Kanata]

JesseFrank, I apologize if I'm not helping & perhaps frustrating the matter.

I will try want one more time to understand your issue. If you want to use your 18.14 Euro to pay for goods in another currency, such as USD, then PayPal will convert the Euro to USD. It will not convert from 28.41 C$ to USD.

Because PayPal gives bad exchange rates, I don't let it convert the money when I receive or when I pay.

With regards to addresses, I have four addresses that I use for eBay purchases. Only one address is linked to my credit card & is verified. Yet, eBay & PayPal have not stopped me from using the other three, even when one is in another country. I guess I have been been lucky, or perhaps they see that I have positive feedback from sellers.

[JesseFrank]

I have emailed Paypal and they told me that if I make a purchase I will be able to choose to pay in C$ or Euro, So I assume that if the purchase is in another currency as C$ I can just leave the balance in the account and withdraw the funds from my credit card, but for all safety have I mailed them again with that question.

As for the addresses, I was told that you can have only 1 verified address, the one that is on your bank account or credit card, but you can have several registered shipping addresses.

You can choose in the settings which is your primary shipping address. There is even an option for a gift address.

[Langsuan Man]

You can have one verified address per PayPal account. And you can have as many PayPal accounts as you have email addresses.

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[JesseFrank]

You can have one verified address per PayPal account. And you can have as many PayPal accounts as you have email addresses.

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

Reread my post, you can have one verified address which is the address that is on your bank account or credit card.

You can have several registered shipping addresses, you have to set yourself which one is your primary shipping address .

You can have indeed several email addresses each linked to another paypal account, but you need a different bank account or credit card for each one of them. A bank account can not be linked to 2 paypal accounts, nor can a paypal account be linked to 2 bank accounts.

Edited April 20, 2014 by JesseFrank

[JesseFrank]

I have emailed Paypal and they told me that if I make a purchase I will be able to choose to pay in C$ or Euro, So I assume that if the purchase is in another currency as C$ I can just leave the balance in the account and withdraw the funds from my credit card, but for all safety have I mailed them again with that question.

So I mailed Paypal again with my question, and within an hour they answered me that it would be no problem to leave the balance in my Paypal account and pay with my credit card

This was my question

Thanks for you response.

When I make a purchase do I have the choice to leave the CAD in the account and make the payment from my credit card ?

And this was their answer

Thank you for contacting PayPal regarding making a payment.

When you make a purchase you will be able to indicate whith which payment method you want to pay, there you can choose for the cerdit card.

It is my pleasure to assist you. Thank you for choosing PayPal.

So today I tried to make a purchase which was charged in AU$, so obvious I want to leave the CA$ in my account and pay with my credit card.Since I know that banks are thieves and liars, I double check before I confirm the payment, and surprise surprise I get the following pop up from Paypal.

Edited April 23, 2014 by JesseFrank

[CharlieH]

Its 60 days for a refund not just 30.

Never trust a seller who wants to ransom the feedback, you should have reported that.

Paypal states you are allowed 2 accounts, 1 business 1 personal, although they dont police it.

They will always draw from available balance before a card. I would suggest you have two accounts, one for spending from the card, the other for receiving, then you have no problem as there is never a balance for them to use on the spending acoount.

[JesseFrank]

Its 60 days for a refund not just 30.

Never trust a seller who wants to ransom the feedback, you should have reported that.

Paypal states you are allowed 2 accounts, 1 business 1 personal, although they dont police it.

They will always draw from available balance before a card. I would suggest you have two accounts, one for spending from the card, the other for receiving, then you have no problem as there is never a balance for them to use on the spending acoount.

It will probably have exceeded the 60 day period since I paid for the item, but also more than 30 days after I received the goods.

I'm actually quite happy with the seller, as I had filed a claim with Ebay and was entitled to a refund, but had to pay for the return shipping which I refused as it would be higher than the cost of the item.

In exchange I had rewarded the seller with some negative feedback, which he wanted removed, and therefor he offered me a full refund with me keeping the items. I also forced him to make up for the receiving fee Paypal charges, so this far I haven't lost any money yet.

I didn't know about the double account, wil have to check that out asap, but it is actually a thieving practice from Paypal to give me false information that I can leave the balance in my account.

If I hadn't double checked I would now have been out of 5% exchange rate, as I'm sure they will also convert to AU$ from the Euros on which I lose 2.5% exchange rate already.

Anyone to claim that banks are here for our convenience ?