Paxum and Paypal withdraw expences. - GoFuckYourself.com

Feng-PD · 10-04-2012, 02:59 AM

I've withdrew money with paypal to my bank account and found out that the difference in valuta exchange cost me 50euro on a 1500euro withdraw... i was like WTF

Then i went and tested it with paxum... and to my astonishment it costed even more! Paxum went and took 61euro.

Is this normal?

Denny · 10-04-2012, 03:52 AM

Yep, it is....

topsiteking · 10-04-2012, 03:58 AM

Quote:

Originally Posted by fengwu83

I've withdrew money with paypal to my bank account and found out that the difference in valuta exchange cost me 50euro on a 1500euro withdraw... i was like WTF

Then i went and tested it with paxum... and to my astonishment it costed even more! Paxum went and took 61euro.

Is this normal?

You did both the same day?

Feng-PD · 10-04-2012, 04:02 AM

no i didnt do it on the same day... prolly 2 or 3 days apart...

faxxaff · 10-04-2012, 04:05 AM

Foreign exchange is the biggest business in the world. Banks make more money with those transactions in one day than all interest payments combined of an entire year.

You got away with 3%. That's pretty cheap. Sometimes they do charge up to 5% in spread.

Feng-PD · 10-04-2012, 04:11 AM

Quote:

Originally Posted by faxxaff

Foreign exchange is the biggest business in the world. Banks make more money with those transactions in one day than all interest payments combined of an entire year.

You got away with 3%. That's pretty cheap. Sometimes they do charge up to 5% in spread.

bastards.... hard earned moneys... and they take it in 1 sec.

Adraco · 10-04-2012, 05:55 AM

And how come you didn't know this from before???

Paypal are pretty clear about they only let you withdraw in the currency of that country where your account is registered. And Paypal will never give you the market price of any currency exchange. First they will force you to use their currency exchange prices and then on top of that comes a fixed percentage "for their troubles".

Paxum has something similar,, not sure if they exchange it for you or if they send out USD and then you get hit with your own bank'¨s exchange fees, receiving fees and stuff.

Because of this, if you have earnings in USD, you want to have your expenses in USD too. And first pay off as many expenses as possible and first then withdraw the remaining profit.

It's very, very stupid to withdraw any income, pay currency exchange fees and then exchange them into USD again and pay yet again new currency exchange fees.

bluebook18 · 10-04-2012, 06:03 AM

charge of experienced dude so don't get mad

10-04-2012, 02:59 AM	#1
Feng-PD www.PornDeals.com Industry Role: Join Date: Jul 2011 Location: Netherlands Posts: 3,964	Paxum and Paypal withdraw expences. I've withdrew money with paypal to my bank account and found out that the difference in valuta exchange cost me 50euro on a 1500euro withdraw... i was like WTF Then i went and tested it with paxum... and to my astonishment it costed even more! Paxum went and took 61euro. Is this normal? __________________ PornDeals.com - WebcamDeals.com - GayDeals.com - PornCoupons.comnew! Skype : fengwu83 Email : feng{atter}porndeals{dotter}com

10-04-2012, 03:52 AM	#2
Denny Too lazy to set a custom title Industry Role: Join Date: Feb 2005 Posts: 17,301	Yep, it is.... __________________

10-04-2012, 04:02 AM	#4
Feng-PD www.PornDeals.com Industry Role: Join Date: Jul 2011 Location: Netherlands Posts: 3,964	no i didnt do it on the same day... prolly 2 or 3 days apart... __________________ PornDeals.com - WebcamDeals.com - GayDeals.com - PornCoupons.comnew! Skype : fengwu83 Email : feng{atter}porndeals{dotter}com

10-04-2012, 04:05 AM	#5
faxxaff Confirmed User Industry Role: Join Date: Dec 2002 Location: Marina Hemingway Posts: 2,134	Foreign exchange is the biggest business in the world. Banks make more money with those transactions in one day than all interest payments combined of an entire year. You got away with 3%. That's pretty cheap. Sometimes they do charge up to 5% in spread. __________________ Asian Babes

10-04-2012, 05:55 AM	#7
Adraco Confirmed User Industry Role: Join Date: May 2009 Location: Onboard an airplane around the globe Posts: 3,737	And how come you didn't know this from before??? Paypal are pretty clear about they only let you withdraw in the currency of that country where your account is registered. And Paypal will never give you the market price of any currency exchange. First they will force you to use their currency exchange prices and then on top of that comes a fixed percentage "for their troubles". Paxum has something similar,, not sure if they exchange it for you or if they send out USD and then you get hit with your own bank'¨s exchange fees, receiving fees and stuff. Because of this, if you have earnings in USD, you want to have your expenses in USD too. And first pay off as many expenses as possible and first then withdraw the remaining profit. It's very, very stupid to withdraw any income, pay currency exchange fees and then exchange them into USD again and pay yet again new currency exchange fees. __________________ ---------------------------------------------------------------------------------- The truth is not affected by the beliefs, or doubts, of the majority.

10-04-2012, 06:03 AM	#8
bluebook18 Confirmed User Industry Role: Join Date: Mar 2012 Location: Soon On Mars Posts: 4,082	charge of experienced dude so don't get mad