Paypal €$ conversion

beanhead

bought some gear off a company called boardersmall.com. they had the shipping listed as $13 t send to me in dublin and a paypal payment process.

after a day or 2, the owner got back to me & asked that if i wanted to proceed with the order, the shipping would actually be $138 not $13, i didn't factor that & was pretty pi$$ed off about a lack of apology or any consideration, so cancelled after some too-fro-ing.

raised a paypal claim against them, they refunded, paypal cancelled the claim but i am about €30+ out of pocket due to euro-dollar conversion.

the funds came from a mastercard card, do i have any recourse seeing as the price(inc shipping) was a misrepresentation?

jor el

I don't think so. That's the risk involved in international purchases, you take the hit on the exchange rate if you get a refund. I know for a fact that Paypal won't do anything as they have refunded the amount that was paid (in $). I don't think the credit card companies will do anything either as it would be the same if the purchase was directly through that.

rubadub

If paypal bothered to think about it it would be in their interest and in your interest to offer you a $ balance in your account. You have paid for $ and should be able to hang onto them for future use. I have mentioned this before and how paypal get 2 exchange fees in this process. People were saying they make very little, but I seriously doubt that, I expect paypal are dealing with more money each day than most countries national banks do.

In future just skip paypal- go direct to the bank and get a chargeback and you get the full amount.

parsi

Aren't chargebacks the same in that you get a refund of the x bucks you paid (converted at todays rate) ?

jester77

rubadub wrote:

If paypal bothered to think about it it would be in their interest and in your interest to offer you a $ balance in your account. You have paid for $ and should be able to hang onto them for future use. I have mentioned this before and how paypal get 2 exchange fees in this process. People were saying they make very little, but I seriously doubt that, I expect paypal are dealing with more money each day than most countries national banks do.

In future just skip paypal- go direct to the bank and get a chargeback and you get the full amount.

Paypal do offer this. You can set it up under Profile-Manage Currency Balances. All the major currencies are offered. You need to click on open balance and then you must set one of the currencies as your primary currency.

Paypal wrote:

he Manage Currency table displays all of the currencies in which you may maintain a balance.

Open Balance
When you select a currency balance and click the Open Balance button, all future payments you receive in this currency will automatically be credited to this balance.

Close Balance
When you select an open currency balance and click the Close Balance button, all future payments you receive in this currency will be accepted, denied, or held as pending (depending on your Payment Receiving Preference for foreign currency payments, which is set in your Profile). If there is a positive amount in the balance you are closing, you will be prompted to convert these funds to an open currency balance.

When you select a currency balance and click the Make Primary button, this currency will become your default currency for sending and requesting payments, and for converting payments you receive in foreign currencies (if you have chosen this option in your Payment Receiving Preferences).

Convert
When you select a currency balance and click Convert, you will be given the option of coverting funds from the balance you've selected to another currency balance.

Home Country Currency
Funds are held in the currency of your home country. When you withdraw or deposit money to a local bank account, it will be done in your home country currency.

You can maintain balances in currencies other than that of your home country, but when withdrawing from your PayPal account, your money will be withdrawn to you in your home country currency. Additionally, you can withdraw your funds in U.S. dollars if your funds are withdrawn to a bank located in the United States.

jor el

jester77 wrote:

Paypal do offer this. You can set it up under Profile-Manage Currency Balances. All the major currencies are offered. You need to click on open balance and then you must set one of the currencies as your primary currency.

But when you pay with a credit card, refunds are applied directly to the card, they're not left in your balance. If you changed your currency to US$ then the original charge to your card would be in $ and also the refund. You'd then be at the mercy of the credit cards exchange rate (and not Paypal's). I'm not sure if it would be any better, they will also charge you currency conversion on both transactions.

Nody

jor el wrote:

But when you pay with a credit card, refunds are applied directly to the card, they're not left in your balance.

This must have changed recently as I've had refunds (no delivery disputes) in US $ on my paypal account where the original charge was made to my credit card.