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Paypal exchange rates?

  • 12-10-2008 12:45pm
    #1
    ko4jm6y9iwv2lc
    Closed Accounts Posts: 219 ✭✭


    I am just after buying a rather expensive item on eBay. The price for the item was listed in sterling. When I went to pay through paypal their exchange rate was €1=£.76. Being curious I checked the actual exchange rate and found it to be €1=£.79. Normally I wouldn't give this a second though however I'm being charged nearly an extra €30 as a result. Any ideas why this is or how I could get a better exchange rate? Cheers!


Comments

  • #2
    byte
    Moderators, Regional North West Moderators Posts: 19,172 Mod ✭✭✭✭byte
    byte


    You'll be hard pressed to find any way of getting the real exchange rate, as anyone offering to exchange wants a cut. This goes for Credit cards as well as Paypal, etc.


  • #3
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    If you're paying by Paypal, then you've no choice in the matter.

    Paypal give you an exchange rate similar to the banks and credit card operators, none of them will ever give the rate you see on the news or xe.com.


  • #4
    rubadub
    Registered Users, Registered Users 2 Posts: 32,387 ✭✭✭✭rubadub


    Santana Tall Transportation wrote: »
    Any ideas why this is
    This always has, is and will be the case.
    Santana Tall Transportation wrote: »
    I checked the actual exchange rate and found it to be €1=£.79.
    By this I presume you mean XE.com or similar. While in my mine the actual rate is what I would get in the bank, go check your bank next time you are curious, and do not just go looking at the rate on the wall! ask how much IN TOTAL it would cost you to get that money in your hand, after ALL fees, commision etc.
    You probably got it cheaper through paypal.

    If future you can log into paypal and attempt to send money, then enter the amounts and it shows you paypals rates for that day.

    Or else go back to your XE if you insist, but add on ~4%

    Not even the head of the secret society running all the world banks can get the XE rate!:)


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