New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.
Aaaand... I'm switching wallets
You were using them as a wallet provider? That's seriously not a good idea because even though they might be legit now they could be shut down by government or just go scam one day and claim that they are hacked.
i mean they are one of the most trusted platforms out there for p2p trading and probably the most popular one as well. But considering the same could be said about Cryptsy and Mt Gox and now, poloniex for their side of the crypto world, i think it is clear that if you don't hold your priv keys, you don't own the coins.
This new rule is going to mainly affect small buyers, and will benefit sellers. Right now sellers are eating all the fees, the 1% escrow fee as well as blockchain fees. buyers are paying 0. Although I do think that buyers should pay some of this as well, $2 is just riduculous. They are basically charging the blockchain fees twice, and pocketing the change
A better model would be to have escrow fees paid 50/50.