20
molaram
38d

So I have this side gig where I do some part-time consulting for some clients and some of them use Paypal to send me amounts between $500 and $10k. It's no fortune but still sums up to about $80-100k each year.

Now Paypal advertise "lower rates" for my volume yet always get charged 5% "cross-border" fees like it's this huge effort moving the bits outside of whatever country the client is from?

Then here's the nice part: I have EUR, GBP, USD and AUD bank accounts, all added under Paypal, as well as EUR, USD and GBP cards. Whatever currency I try to pull money with, it always changes to another, eg:
I try to pull USD from my USD Paypal balance to an USD card, it converts to EUR.
I try to pull EUR from my EUR Paypal balance to my EUR account, it converts to USD.
I try to pull GBP from my GBP Paypal balance to my GBP bank account, it converts to EUR.
There is absolutely no way to choose what currency to use. Sometimes it will first attempt to convert to a currency then if you switch your source balance to that currency, it just tries to convert to another.
And Paypal's exchange rates are absolutely disgusting, basically you pay between 2.5% up to 7% depending on currency.

So bottom line is I work my ass off and Paypal take a huge 10-12% chunk of my cash basically for sitting on their asses and doing nothing. Because make no mistake, when you try to contact customer support there is no phone number to call, no email address, just a bunch of text ("help center"), a community forum that gives no fucks whatsoever about users, and a "support chat" that's basically accepting your messages only between 10AM and 4PM but you get replies 2-3 days later usually from some indian or pakistani guy who has no clue what's going on and just gives you a canned reply based on random keywords in your message.

Now given all the above I just wanna say, from the bottom of my heart, FUCK YOU PAYPAL FUCK YOU MOTHERFUCKING MONEYGRABBING THIEVES AND ASSHOLES, FUCK ALL OF YOU BACK TO THE STONE AGE, SUCK MY FUCKING COCK AND GO DIE IN A FUCKING FLAME.

Comments
  • 13
    Years ago paypal got caught doing really shitty things. If you can use something else then do. They are, like you say, thieves.
  • 3
    That's really nasty business practice... Do you have other ways of getting paid? Like Stripe or so?
  • 9
    Do a fast Stripe checkout and let your clients pay with credit card there. Cmon it depends on you bro
  • 5
    Definitely closing my account ASAP. Just got some money left to clear out, it's conveniently "on hold" for 24 hours but they will have to release it eventually, 5 seconds later will be closing the account and fuck whoever asks me for Paypal email from that moment on.
  • 4
    It's not for nothing that they're called "Painpal".
  • 0
    I always used Transferwise for payments between EU and US. Worth checking them out
  • 1
    @justamuslimguy I tried it.

    All these money apps advertise hassle free transfers yet the moment you go over 5-10k you get holds, delays and have to start producing paperwork. Besides for that kind of transfer I can just use banks. TW is not so popular in the US yet, at least not as popular as Paypal is.
  • 0
    @molaram Interesting. I transferred over the amount you are discussing without any hitches and it was cheaper than any other method due to better conversion rates but to each his own.

    The benefit for me was having the EU bank account for my client to deposit into. It resulted in no fee for them. Previously I had tried to accept a bank transfer overseas but the fees were huge and conversion rate poor (my bank is small, they don't handle such overseas transfers frequently).

    Hope you find what works for you!
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