Exchange rate

[Pomse2001]

Hi guys when we pay or sell and use paypal to deal with people in other countries what Exchange rate do paypal then use ?

 

[aussiejames]

Paypal's exchange rate is about 3-5% worse than the 'bank'

 

[walkie]

one word .... shite!

I've lost out on some deals upto £30+ when accepting payment in $

 

[Pomse2001]

I lost £25 on a deal today because I used exchange rate from a danish bank today

It could be great to know what paypal use or do they also use the bank and keep the extra money :?

 

[ODB]

Worse still Ebay use one rate and Paypal another (usually much worse) so you win at one price and pay another.

Paypal will probably either have direct access to forex markets or it will all be hedged up.

 

[itfciain]

Daft thing is they have one rate when you are paying and then another when you are transfering into you account - and surprisingly enough both are in their favour.

For smaller deals it is no so relevant but certainly with larger deals then it is worth doing a dry run first rather than going by the Google exchange rates

 

[Pomse2001]

So is there no way to see the days exchange rate on paypal before you pay ? :?

I agree small deals is not so relevant, but when people lose £10, £20, £30 etc. etc. on a deal then I think it is bad :evil:

 

[lee gray]

This is annoyed me as i was happy with the final sum until i paid via paypal and it cost me just over £100 more than expected, glad it has free shipping

 

[Pomse2001]

Sorry Lee to see you paid so much more for the item

I have tried to look on the paypal site to find an exchange rate, but no luck

I think it is bad that the ebay system can't tell us the correct price that we have to pay :evil: