Paypal issue for non American (currency conversion) buyer

Perhaps this is well known here but could not find info. in post titles.

I am based in Australia. Purchased an item from ebay in which I communicated with them beforehand to confirm item was exactly as shown in images (packaging included ‘stand’ for item). Ebay seller confirmed & even sent images to back up. Made purchase & then following day had email from seller saying it was not the case (they apologized) & could I please cancel for refund. I did so. Paypal then sent refund information saying amount refunded would be $8.78 oz less (3.2%) than what I had originally paid. Found following info. from Paypal website –

If the original payment involved a currency conversion and the refund is issued:

·[font=Times New Roman]      [/font]within 1 day of the date of the original payment: we will use the transaction exchange rate applicable on the date of the original payment, so that you receive the original amount (including the currency conversion you paid)

·[font=Times New Roman]      [/font]1 day or more after the date of the original payment: we will use the transaction exchange rate applicable at the time of the refund. This means that you may not receive the full amount of your original payment due to the fluctuations in exchange rates.

So for those out there who may make a purchase worth in the hundreds to thousands of dollars, beware of refunds as they may cost you significantly, or you may make a gain.

Thanks! Good to have this detailed information and warning.

Been there, suffered that. In my case, purchasing something from someone in Europe. I just assumed it was the transaction / service fee that PayPal charges that doesn't get refunded because technically, they did provide a service. It sucks because their fees are pretty ridiculous, depending on the value of the item.

I will certainly be avoiding use of Paypal in the future if possible.

My perspective of this is because the seller was wholly responsible for the issue, & was also part of the Paypal transaction, he should bare the full cost of any loss when refund is due to the buyer. That would also encourage sellers to be accurate regarding items they sell. Although not directly related to this issue 2 previous ebay sellers who I approached for this item both showed images of the item with the stand, but when I contacted them regarding that they both indicated the stand was not part of the sale.

I always turn off Paypal currency conversion, before complete my purchase.
It is very expensive service, and my Bank has 0% commission to convert currency.

I will certainly be avoiding use of Paypal in the future if possible.

My perspective of this is because the seller was wholly responsible for the issue, & was also part of the Paypal transaction, he should bare the full cost of any loss when refund is due to the buyer. That would also encourage sellers to be accurate regarding items they sell. Although not directly related to this issue 2 previous ebay sellers who I approached for this item both showed images of the item with the stand, but when I contacted them regarding that they both indicated the stand was not part of the sale.

Absolutely this is on the seller. You also don’t have to be shy here, you can post a link to the morons eBay post scamming people out of reverse currency conversion losses. 

Personally, if I were the seller, I’d be refunding you the conversion loss back, ESPECIALLY when it was my fault telling you something is included when it’s not.  How do people NOT know what they’re selling? The razor has a stand or it doesn’t.  Scam.

Thanks! Good to have this detailed information and warning.

Been there, suffered that. In my case, purchasing something from someone in Europe. I just assumed it was the transaction / service fee that PayPal charges that doesn't get refunded because technically, they did provide a service. It sucks because their fees are pretty ridiculous, depending on the value of the item.

If I read the following article correctly Paypal does in fact charge the seller a fee for refund transactions -



https://www.theverge.com/2019/9/20/20876...ontroversy



Another bit of encouragement for the seller to do their due diligence (or dishonest sellers posting deceptive images of products). Admittedly from current experience this does not appear to be the working .

Just to let you know, I have approached the seller through ebay msg regarding this to see what their response will be. If a positive one, will let you know.

Wow. So seller and buyer both lose out and only PayPal wins. PayPal is the lawyer of financial transactions.

Wow. So seller and buyer both lose out and only PayPal wins. PayPal is the lawyer of financial transactions.

The seller may need to pay 10% of ebay seller fee, if he canceled the purchased.

I always turn off Paypal currency conversion, before complete my purchase.
It is very expensive service, and my Bank has 0% commission to convert currency.

Good tip. I will give this a try and perhaps pass along the findings in other forums. Did a deal with someone in Europe last month, and wasn’t clear as I could have been on the price ($120 / 100 EUR). He put in the EUR amount and it ended up being $6 less than what I expected US dollars. Can’t imagine the bank’s exchange rates would have been so bad.

Wow. So seller and buyer both lose out and only PayPal wins. PayPal is the lawyer of financial transactions.

You say that like it’s a bad thing.... ;-)