- Impact
- 7,664
PayPal is famous because it is easy, handy and instant but their charges are really bothering a lot for small traders. PayPal is like a Cancer, we have to live with it unless and until a formidable alternative or competitor is born afresh. PayPal deducts nearly 5.5% as their commission, then our bankers add their own charges plus if we use the Credit Cards, the card issuer charges at their Selling rate and we receive the funds in our bank account, the banker credits the funds at their Buying rate only. Thereby we lost nearly 10% just to receive funds from one account to another. Horrible indeed, but the tragedy is no one is there to question their excessive charges. There is general feelings among the PayPal users that the commission rate should be reduced.