any of you hit with ftf using paypal with hk?

[KTP]

So I just noticed a $10 charge labeled as a foreign transaction fee on my cc statement along with the hk charge that I was expecting.

I paid for my hk order using paypal funded via my credit card.

Isn't this a bit strange? I mean I paid paypal with my cc and then they turned around and paid hk (and probably charged hk a fee). Isn't paypal an american company?

Do you think there is any chance of getting this $$$ back from my cc? (I have made several more hk purchases and have incurred more than just the one $10 charge)

 

[mwkeefer]

It's a charge from the CC company.. paying from your balance (paypal balance) won't incur the same fees (I think).
-Mike

 

[KTP]

I know it was a charge from the CC company, I was just trying to figure out how they could charge you a foreign transaction when you were making a payment to a US company (Paypal).

I guess small guy vs big bank, the bank is going to win every time. Probably not worth me trying to get the cc to credit me back.

I'll just swallow the $30 and use bank transfer with paypal from now on..

 

[mwkeefer]

Safest method is to fund your paypal account first from your bank, then pay from there.

Instant transfers are convenient but subject to other forms of regulation and fee structures.

I've never been hit with those fees using my FIA visa or Amex cards so I think it's either BRAND NEW (in which case I will find out later tonight when I place an order) or it's just your CC bank, doing what they do best... did you say you were with F.U.? LOL

-Mike

 

[johnrobholmes]

I would give them a ring and see why you were charged when they were paying paypal.

 

[mwkeefer]

JRH - Paypal notifies or transacts against the bank in such a way that they know where the funds are being routed, they had to participate in this due to new Fed laws a while back... there was a paypal policy notice that went along with it (TOS updates) but I can't recall where.

-Mike

 

[johnrobholmes]

Come to think of it, I got charged last time too. I used my paypal debit card instead of just using paypal. Charged me 1% of the transaction.

 

[mwkeefer]

Now if that isn't the cat chasing it's own tail, I don't know what is
-Mike

 

[johnrobholmes]

I get 1% back on everything when I use my card, so indeed it was just a round about chase!

 

[mwkeefer]

JRH, I get ya - I meant more:

1.) Paypal charges their 50c + 2.3% to the merchant
2.) Paypal encourages you to use their debit card as cash
3.) Paypal assesses an additional 1% to your transaction, on their own debit card (in addition to the other fees)
4.) *And they give you 1% back?

It's kinda funny, like self bootstrapping laws or jurisdictions.

-Mike

 

[Ypedal]

I just got a brain cramp....

 

[MitchJi]

Hi,

Safest method is to fund your paypal account first from your bank, then pay from there.

-Mike

Safest in terms of avoiding fees but paying with a CC is safer in terms of rip-off prevention.

 

[John in CR]

...I guess small guy vs big bank, the bank is going to win every time...

When it comes to fees not really, don't spend too much time with the first person on the phone, get to a supervisor quickly. Better yet, handle it next time you go to the bank in person. Banks have lots of fee waivers, and supervisory people are given a good amount of leeway. That what makes going a bit overboard with fees so profitable to them. Most just take it like the sheep that they are, and when they waive fees it makes for a much more loyal and happy customer, so it's win/win for the bank, especially when the cost to the bank was little or nothing for the item in question.

John