Quote:
Originally Posted by daizzzy
So i've attached my local band credit card in $ to my Paxum account to withdraw money. The bank has received the money in local currency and applied some fee to apply them into my $ account. Then there's a difference in currency rates, so i've lost 5-7% on it.
I've contacted Paxum support which told me that they are using USD only and there's my bank issue. My bank showed me their operational docs showing they are receiving the money in local currency.
Last week I've tried my other cc with other bank - the same situation.
Has anyone experienced the same issue with Paxum? Is any way to have it fixed?
Paxum support has been useless for the last month.
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Try to understand how international banking and currency handlings work. Of course there will be differences in currency exchange rates between different institutions,
BECAUSE THEY DO NOT EXCHANGE IT FOR YOU OUT OF GOODNESS OF THEIR HEARTS - THEY DO IT FOR PROFIT
Which is why any bank or money handler will ALWAYS sell you a certain currency at a higher price than they buy it from you for. That spread, is how they make their money.
Especially since you tried your other CC and got the same result, how in the world did you come to the conclusion that this would then somehow, magically be Paxum's fault if a different card produces the same result?
I'm sorry, but you come accross as so stupid that it must really hurt!