Rage Against Suburban Zombie-ism
Thursday, August 30, 2012

Paypal is corrupt.

A few months ago, I opened up a USD account through my Canadian account.  The main reason for the US account was to handle Paypal transfers which are primarily in USD currency.

After a few attempts of making a transfer, I always received a "bank account invalid" email.  I've called both my financial institution (5Xs + 1 in-person visit) + Paypal (3Xs) to try and re-confirm my account info, find out WHY this is happening, what the problem is, etc.

TODAY, after the 5th unsuccessful attempt at a transfer, I call Paypal and they tell me that even though I have a US account AND I'm transferring US currency, that the amount will still be subject to currency conversion.  WTF?  

Lemme get this straight:  Paypal USD --> CAD --> then back to USD so that it can be deposited into my USD currency account??  And if that wasn't bad enough, there's a 2.5% transfer fee??

I thought I was horrible at math, but I found someone else who's even worse...Paypal!  However, I guess them being "bad at math" works in their favour 'cause it = lots and lotsa dollar sign$$$.

Again, aside from convenience, I'm not sure why they're still in business.  Oh yeah, that's right, they have a fuckin' monopoly! 

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posted by Stephania at 2:17 pm
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