PayPal Frustration!

I transact mostly in USD, but live in a non-USD country. Until recently, PayPal was directly crediting Tindie payouts to my PayPal USD Wallet, from which I’d spend in USD on replacement components.

Now, they have started “auto” Currency Converting the Tindie payouts into my local currency Wallet, meaning yet another currency conversion when I then purchase USD replacement components.
This is killing my Tindie store viability with the added unnecessary & unwanted double currency conversion being forced upon me by PayPal.

They have not resolved after repeated requests.

I had already given up on eBay, after they did the same thing when they forced Payoneer on me, with unecesary multiple currency conversions, now meaning that almost half of every eBay sale is now consumed by eBay / Payoneer fees (as I’m not USD based), and I’m now lucky to break even while eBay profits!

It seems that unless you are US based, then sharing your projects via Tindie or eBay is becoming financially unviable. Sad times, driven by eBay and PayPal profiteering greed!

Same issue. Started with September…

Paypal’s help is still saying this:

If you receive a payment in a different currency, it’s automatically accepted in the currency received, and a new currency balance is opened in your PayPal account (excluding Malaysia).

Have you figured something out?

No. Although PayPal were responsive to my support requests, they were unable to explain and did not resolve the issue. Almost like they were unable to explain their own system or make any corrections.

So although the Tindie distribution is in USD, and I have my primary currency wallet set as USD, a Currency Conversion was automatically done to put the funds in my NZD wallet.

Upon buying replacement parts (in USD), I had to accept PayPal “double” Currency Conversion fees!

Really frustrating! Unfortunately we appear to have no alternative to using PayPal.

At the moment I’m unclear what will happen next time, as PayPal support weren’t even able to tell me that, as they couldn’t explain why it happened.

(But, I know it’s simply called profiteering by PayPal!).