Small companies are in no position to argue the toss with banks about cancellation fees , They can only look for a better service provider .
I think the banks should stop charging , not like it costs them anything
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its paypal and judging by the size of the fee its not a simple payment process fee its a forex fee because pimax choose to list their prices in dollars but get paid in yuan - its because of a choice on pimaxās end, they could have a dollar paypal account set up but then theyād pay exchange fees for withdrawing and not be able to tie that directly to each transaction (so they know how much to penalise a customer for for cancelling)
Paypal only recently in the last few months decided to start charging fees on refunds , in uk anyway
Pimax would not have anticipated this paypal move when taking pre orders
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I believe that @twack3r wrote already that he paid by the credit card directly (and not by paypal).
Those responsible for fees are not the banks, but the ātransaction platformsā, e.g. Mastercard, VISA etc. They control the clearing of the funds and they guarantee the service to both the businesses and the banks.
Technically the business has a contract with e.g. VISA (basically the licence to accept the VISA cards), and then most likely uses a 3rd party āpay gateā, i.e. an IT solution to collect the info about the payments and pass them to VISA.
If VISA authorizes the transaction (based on the contract it has with the business) it passes it to the creditorās bank (which issued the card). The bank confirms (or denies) it based on the funds and/or other conditions, passes it back to VISA and VISA passes it to the merchant.
The banks have some say, but I doubt they really control the transaction fees (or even apply some).
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Pimax arent in UK and paypal have never refunded forex charges anyway - choosing not to a dollar account but charge in dollars is a concsious decision and they would have been aware of the fees as soon as they took the first payment even if they didnt read the T&C
Fact remains that every company should know with whom they are doing business with, such as 3rd parties and their conditions.
And if this is ultimately relevant to the customer it needs to be explicitly stated in any contract in advance if money needs to be substracted.
Simple as that imho.
And in not doing so we can agree that it is at least very poor practice and should not be put on the customers account as he was fully unaware.
It is also comprehensible that the customer feels cheated if those costs are being thrown at him by surprise.
I get there is a fine line in terms of accusations but i urge for understanding.
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Doesnāt look like Iāll be placing a bid at the running auction price lol
unless I get a severe bang on the head or something
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https://www.ebay.co.uk/itm/283959699797
Another option? Also geffvader is planning to sell his backer 8kx
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Iām currently winning bidder on that one
not for long I expect
I slipped and banged my hairy lid
onāt ebay website did I bid
I clicked and bought an 8KX
now wife says thereās no more sex
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Itās really not acceptable to charge people for the processing fees for undelivered and unsent items unless you make such things clear (in which case, most people wonāt order if it says thereās a 3% cancellation fee, as soon as you order). First off, Stripe charges 2.9% + 30c per transaction. They do not charge on a refund, but keep the original fee if it was already charged.
Secondly, itās important to note that the reason 95% of companies authorize and donāt charge your card until the item is shipped, is that you can cancel at any point until the item is shipped, and as the money isnāt taken, no fees apply, so 100% refund (as in no charge happens, just the pending/hold on your cc). Stripe works the same way. Pimax bucked that trend, collected pre-order and backorder money at the time of order instead of when items ship, and didnāt note or mention any transaction fees or charges for cancellation. They should be eating those charges.
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They were holding on someone elseās money, so technically they could collect an interest and then used it to pay the fee 
.
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Well at least 2 bidders with deep pockets want this 8kx , so Iām out
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the last one we heard the price on was 2000 euros cash, for those of us wanting to sell this is good news that they are still going high lol
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Right now one 8k X is selling on eBay . Seems like it will sell for 2000ā¬ (
)
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Iāll be keeping mine. Iāve waited too long to not play with my new toy! 
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Could buy one in the store now for $1000 plus delivery plus $220 taxes
so about Ā£1000 giving up the stretch goals
But I guess if you want it now , then pay up
Only takes 2 resolute buyers
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Only looks like a few buyers battling it out though , next highest bidder was yourās truly
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The colours are worth 300ā¬ on this hmd not 2000ā¬ 
I think I will stick to the wireless vive pro gear mod / Reverb G2 combo ??
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Ye I think its the best for now hands down. 
