PayPal
Diamond Purchase Dispute, $350 Kept, and Currency Exchange Fees
- 10-28-2010
- 34
PayPal allows fraudulent sellers to rip off customers and does not back up the customers who pay the costs. I made what I consider a major diamond purchase using PayPal. When the item arrived, I had it appraised and found that it was several grades lower than advertised. I sent it back to the company with the appraisal, asking for my money back. They kept $350, and PayPal refused to do anything, claiming that if I had used eBay they would have treated it differently. PayPal participates in the fraud because this particular company does a lot of business through PayPal.
PayPal also rips me off with currency exchange. I have a US dollar account, and PayPal refuses to allow me to use US dollars to send to my US dollar account in Canada. They take the exchange fees to convert to Canadian dollars, and then my bank refuses the funds because it is a US dollar account, so the money goes back to PayPal, but in Canadian dollars. I am then charged an exchange fee to convert back to US dollars for my purchases. Ripoff.
PayPal is ripping millions off of everyone. They hold funds in limbo for several days during transactions, using their clients' money to earn interest for their own benefit. Ripoff.
Company: PayPal
Country: USA
Site: paypal.com