PayPal is an international e-commerce giant who is
providing service to different countries and millions of people from around the
world. It is good to have a payment gateway like
PayPal to reduce other complications in receiving payments in my Country.
Payments will be directly transferred to Bank account, it reduced the payment
complication I used to face here in India.
Due to these problems I was searching for an
alternative and came to know about the second payment option which the website
is having. So I did some research about PayPal and I started using it couple of
years back to receive my payments. I completed my PayPal account verification
fast and informed the website customer care to send the payment to my PayPal
email id. It was simple and easy to use to receive payment from any
website.
Drawbacks Which I Faced
The Reasons Why I Joined PayPal
I had been working for different online survey
websites. One website had sent me 15$ check after I completed a survey
successfully. I was so happy and approached my back to submit the check in my account.
But when I was talking to the Bank officer he informed me that the 15$ check
might get rejected because the minimum amount needed is 100$ in the case of
foreign checks. But he said we will try to submit and I submitted the check in
my Bank account but couple of weeks later I had got the notifications saying
form the Bank saying that the check got rejected due fewer amounts. I need
minimum of 100$ if I want to do a foreign check transaction. So I had to send
the check back to the website’s office which is situated at Miami and I
informed them to hold my payment until it reached 100$. But I didn’t want to
wait for a longer time to receive my payment from them.
Drawbacks Which I Faced
- Processing Fee: PayPal is deducting 5% processing fee when I receive an e-check. Two months back I started using &bubblews and they will be sending their payment as e-check. So when I receive 53.75$ they will deduct 5% processing fee from it. That means I will be receiving around 50.25$ only.
- Exchange Rate Variations: This is one of the other big problem which I'm facing. In India the exchange rate will be showing 61.35 INR for one dollar. But PayPal will be pay paying only 59.45+ INR for one dollar. Once I questioned it and they said they are not a financial institute to pay may the exact exchange.
Conclusion
As far as I'm concerned, PayPal should have changed their
policies to avoid these kind of allegations. There is no other accepted
payment gateway like PayPal and I felt that they are exploiting the users
because of this monopoly in the industry.
Thank You
Ribu Roby @riburoby
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