ANOTHER FEE TO ADD TO THE LIST

[spinyeel]

when did banks start charging what they are calling a foeign transaction fee when purchasing an ebay item from overseas and paying thru paypal.

cash or credit card doesnt matter, my bank started about 7 weeks ago but I only just noticed.

i assume its based on a percentage of the amount spent, $43.54 received a fee of $1.31 doesnt sound like much but thats nearly $10.00 in 7 weeks...

[lyndal1838]

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@spinyeel wrote:

when did banks start charging what they are calling a foeign transaction fee when purchasing an ebay item from overseas and paying thru paypal.

cash or credit card doesnt matter, my bank started about 7 weeks ago but I only just noticed.

i assume its based on a percentage of the amount spent, $43.54 received a fee of $1.31 doesnt sound like much but thats nearly $10.00 in 7 weeks...

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My bank has been charging it for years.

I don't mind paying it on transactions in foreign currencies but I do feel ripped off when I have to pay it on payments made to Aussie sellers in Aussie $ just because I paid with paypal (an overseas company).

These days I use a debit card that does not charge it for CC payments via paypal

[pennyforum14]

It depends on the specific card used to fund the purchase, I believe, and is particularly relevant to those "low rate, no annual fee" cards offered by some banks (pays to read the fine print).  Some credit cards (but thankfully not all) count ANY international purchase as an overseas transaction and apply overseas transaction fees, even if invoiced and paid in AU$.  It might be a good idea to talk to your bank and tell them you want to switch to a card that treats Paypal Australia payments in AU$ as local purchases.