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Paypal Currency transfer rate

  • 13-12-2006 4:53pm
    #1
    JoeySully
    Registered Users, Registered Users 2 Posts: 1,276 ✭✭✭


    i HAVE JUST MADE A PURCHASE ON EBAY HOWEVER I addded up the price of product and P&P came to 70GBP checked it on xe.com and came to €103.97 but when i went to paypal it was €106.59 EUR below is what i copied from the Paypal website. it seems that you can choose to take paypals currency conversion rate or your credit card companies transfer rate.
    this is obvioulsly dependant on you creditit card company but which do you think would have a better rate?

    Conversion Options




    PayPal offers two ways to convert currency when you purchase from a seller who uses a different currency than yours.

    The PayPal currency conversion process
    The MasterCard and Visa currency conversion process
    Please select your option below:

    Use PayPal's conversion process to complete my transaction using my card's currency.
    Both the original transaction currency and the converted amount that I will be charged are disclosed for my convenience. I understand that MasterCard and Visa have a currency conversion process. I have chosen not to use the MasterCard and Visa currency conversion process, and I will have no recourse against MasterCard and Visa with respect to any matter related to this conversion.

    Bill me in the currency listed on the seller's invoice.
    I will not know which foreign exchange rate has been applied to this transaction until I receive my card statement from my card issuer. I acknowledge that by choosing this option, my card issuer will determine the foreign exchange rate to apply to this transaction, and that I will not be informed of the foreign exchange rate or any additional foreign exchange fees applied until I am billed by my card issuer.


    Select an option above, then click Submit to complete the currency conversion process.


Comments

  • #2
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Bare in mind that most credit cards will charge a fee of about 1.5% for currency conversion so you may end up paying as much.

    In your case above there's only €2.50 in the difference so I don't think it really matters. No bank or credit card provider will give you the rate listed on xe.com anyway, theirs will always be slightly worse.


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