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Which has the better exchange rate?

  • 15-01-2009 11:09am
    #1
    Alter-Ego
    Registered Users, Registered Users 2 Posts: 2,324 ✭✭✭


    Howdy folks.

    So I'm planning to buy something online in sterling for £104.99 and I have the option to either pay direct with my mastercard or with paypal. Today the pay pal exchange rate for £104.99 is €119.82. Will paying direct by credit card give me a better rate after the ~2% conversion fee.

    Where do mastercard/aib get their rates from?


Comments

  • #2
    Bluetonic
    Registered Users, Registered Users 2 Posts: 7,588 ✭✭✭Bluetonic


    The difference is so irrelevant it's not really worth answering your question ;)


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


    Banks and card operators set their own rates, just like Paypal, which will be based on the international rate at any particular time, but with a little more added. None of the banks seem to make it very easy to check the rate (probably because it changes all the time), but you could ring them and see if they'll tell you anything.

    For £105, the difference will be pennies.


  • #4
    Sandraf
    Registered Users, Registered Users 2 Posts: 118 ✭✭Sandraf


    Hiya

    That rate seems high.
    I bought stuff on Amazon.co.uk which arrived yesterday. It cost me Stg£57.00 which translated to €59.00 !. Not bad I thought !


  • #5
    rubadub
    Registered Users, Registered Users 2 Posts: 32,386 ✭✭✭✭rubadub


    There is a visa thing which shows the current rate, then you can enter your bank fees in the calcualtor too.

    With paypal you can log in and attempt to send money to find the rate.

    Visa is a fraction cheaper than paypal in nearly all cases I tested. You are talking cent, it might be worth it when going with bigger payments.

    I always go CC since it means the company gets the full amount, otherwise paypal are getting 4%. I would rather the business get this money than paypal. Especailly business I will return to, means they make more profit and can continue to offer good deals.


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