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International Commerce question

by ZihuaRob ⌂ @, Zihuatanejo, México, Wednesday, September 04, 2019, 20:07 (41 days ago)

Need to pick your brain if anyone can help with a dilemma I'm not finding any easy solutions for.

I've used PayPal for over 15 years to accept and make payments, mostly from and in the USA. What has been a major attraction to use them is that I can just leave payments in my PayPal account instead of transferring them to my bank. But as of the 25th of this month they are going to automatically transfer all payments directly to users' bank accounts where I don't need or want it because it will cause me to lose TWICE on the friggin exchange rate because I use PayPal almost exclusively to pay bills in the U.S.

I don't mind paying taxes, but I do mind getting screwed by exchange rates and having to register my Mexican bank account with online services where larger amounts of cash are vulnerable to thieves than using my PayPal account where I usually only keep a few hundred dollars for paying bills in dollars. PayPal has been a safety feature as well as extremely convenient. Also, some U.S. services I use don't accept foreign bank accounts, and PayPal has been a go-around for that problem.

Unfortunately while there are plenty of online payment services, that isn't my problem. My problem is avoiding getting screwed by having payments converted to pesos and then converting them back to dollars when I pay for things like domain names, one of my regular and major expenses for my clients. I've done a bit of searching and all I come up with are services that will accept payments online but then want to transfer them to my bank account.

I never imagined that PayPal would risk losing so much business by doing something like this. Not sure why they're essentially cancelling one of the most useful parts of their service.

Anyone use a service that I could use as a substitute for PayPal?


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