Difficulties with Paypal - Advice please

Full Member
mgs2
Posts: 33
Joined: 07 Nov 06
Karma: 
25 Apr 07 05:16:38 am
I sell on eBay and have started selling overseas throughout Europe and North America. The vast majority of overseas buyers pay via paypal, thus my Paypal account receives GBP, Euro and USD.

My Paypal account is setup in Australia, and there are additional fees to accept foreign currency. Basically the fees to accept foreign currency, as opposed to AUD, almost double. So generally I'm pay about 2-2.5% to receive AUD to my paypal account, so to receive these other currencies I'm paying something like 4-5%. Then I'm slapped with another 2.5% currency conversion fee to convert the foreign currency into AUD, to withdraw to my Australian bank account.

These fees are just all to much, and are hurting my business. Paypal's rule is that you can only have one paypal account per person. Does anyone have any ideas what I could do to help sort out this problem? All replies are geatly appreciated, thank you.

Full Member
mgs2
Posts: 33
Joined: 07 Nov 06
Karma: 
25 Apr 07 06:58:34 am
One thing I can do, is to list to these countries, exclusively in AUD. This put the obligation on the buyer, to pay the 2.5% currency conversion fee, and thus the AUD flows into my account, at the normal lower fee rate.

The only problem with this is the possibility some buyers might avoid buying from a seller who lists in foreign currency. I wouldn't be integrating with the county's market so well. But possibly this isn't all the important, and as long as I have good feedback, buyers will be ok with buying. Any thoughts on this?

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