Nope dipmicro - you got it wrong. PayPal is neither a bank or trust company and certainly not a financial institution. Nor are exchange services in Canada guided by the Ministry of Finance as you suggest. Banks are free to charge what they want and are only guided by market pressures and public outcry. They are not regulated. Do you watch the news? Do you recall even a couple of months back when Canada's Finance minister contacted the banks and "asked" them to reconsider their high service charges? He did not tell them to reconsider - he asked them.
All companies are well within their rights to charge a reasonable amount for services. PayPal charges are well within what might be considered reasonable even if many Canadian sellers disagree. It is higher than banks but is actually quite close to what Canada Post charges.
Perhaps the Ministry of Finance will come down on Canada Post as well. ;-)
All companies are well within their rights to charge a reasonable amount for services. PayPal charges are well within what might be considered reasonable even if many Canadian sellers disagree. It is higher than banks but is actually quite close to what Canada Post charges.
Perhaps the Ministry of Finance will come down on Canada Post as well. ;-)
Bill
treasure-pot
Co-Author of
Most financial transactions are regulated in some way if it be a bank or trust company and the voices saying "PayPal can do anything market allows" are wrong.
Are these not your words in post 15? How have I misinterpreted them?
Are these not your words in post 15? How have I misinterpreted them?
Bill
treasure-pot
Co-Author of
Not a case of winning, dipmacro - just wondered how you had determined that everyone else was wrong.
Bill
treasure-pot
Co-Author of
Even to meet the absolute lowest standard for a Powerseller, you have to have $12,000 in annual sales. At the absolute minimum, you are giving PayPal an additional .5 cents on every dollar to have them convert the money for you, which is at least $60 per year. If you also incur expenses in US dollars, and convert your money to Canadian dollars first, then you are giving another 5% of every dollar you spend in US dollars to your bank.
It's 2.5 points not 5 (actually I think PayPal are at 2.3%), even for large amounts exchanged via someone like xe.com there will be a spread of 3/4 of a basis point.
"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915
- answering Trolls is voluntary, my policy is not to participate.
It's 2.5 points not 5 (actually I think PayPal are at 2.3%), even for large amounts exchanged via someone like xe.com there will be a spread of 3/4 of a basis point.
"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915
- answering Trolls is voluntary, my policy is not to participate.
Hey Glenda... no "stipple" is correct... well it is after I've had three. lol
Bill
treasure-pot
Co-Author of
Glenda, it does get interesting from time to time, doesn't it?
Bill
treasure-pot
Co-Author of
Good to hear it... nothing a daiquiri couldn't fix... lol
Bill
treasure-pot
Co-Author of
By the way Monique, in case you were wondering, I got bumped by that provincial minister talking about the Caledonia difficulties. Supposedly I'm on track for this weekend.
Bill
treasure-pot
Co-Author of
