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Another payment processor blunder
7 years ago
My online wallet provider has updated their policies and will put the updates into effect on April 18th, 2018.
But the content of the changes contains some alterations that may rub some people the wrong way. These are:
* The removal of the variable fee on sending money to non-U.S. countries, replacing it with a flat fee depending on the country of residence of the recipient.
** If the money is sent using a credit or debit card, an additional transaction fee will be incurred and calculated based on the total amount sent. This is on top of the fees to convert your money into the currency of the recipient's country.
* They're changing the balance management functionality of the account. If you haven't verified your identity with them, you will not be able to send or receive money. The only thing you may do is transfer your money to or from a linked bank or credit/debit card.
** If your account is verified you can continue to use your account as normal, barring the fees on sending money outside the US.
They're also removing one of their services. Specifically the service that pays the person/vendor after your goods have been delivered.
But the content of the changes contains some alterations that may rub some people the wrong way. These are:
* The removal of the variable fee on sending money to non-U.S. countries, replacing it with a flat fee depending on the country of residence of the recipient.
** If the money is sent using a credit or debit card, an additional transaction fee will be incurred and calculated based on the total amount sent. This is on top of the fees to convert your money into the currency of the recipient's country.
* They're changing the balance management functionality of the account. If you haven't verified your identity with them, you will not be able to send or receive money. The only thing you may do is transfer your money to or from a linked bank or credit/debit card.
** If your account is verified you can continue to use your account as normal, barring the fees on sending money outside the US.
They're also removing one of their services. Specifically the service that pays the person/vendor after your goods have been delivered.
This would make getting art from artists living overseas more costly, and that's something I'm not going to like, given the juggling I have to do on a fixed income.