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x change rates

  • 28-03-2010 3:45pm
    #1
    metrovelvet
    Closed Accounts Posts: 9,376 ✭✭✭


    When you purchase something online from an overseas retailer, either UK or US or whatever, who sets the rate - the retailer or the bankcard you are using and how can you tell what that translates to euro before you buy?


Comments

  • #2
    ttm
    Closed Accounts Posts: 2,045 ✭✭✭ttm


    If you are paying by credit card it will be the exchange rate AT THE TIME the seller takes the money from the card. By that I mean some better online retailers don't debit the card untill the goods are packed and ready to go which may be a day or so after you put in your order others debit the card straight away so if you notice its a good euro rate for the pound one day and order something from the UK in sterling then you might not get the best rate if the seller waits till he has the item ready to post the following day when the rate may have changed. Ocassionally you'll get a better rate.


  • #3
    metrovelvet
    Closed Accounts Posts: 9,376 ✭✭✭metrovelvet


    I usually use xe.com for figuring out prices. However, I had noticed about a 10 euro price difference on the exchange amazon.co.uk used and what xe.com uses for a E 50 item. Seemed rather stark.


  • #4
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    metrovelvet wrote: »
    I usually use xe.com for figuring out prices. However, I had noticed about a 10 euro price difference on the exchange amazon.co.uk used and what xe.com uses for a E 50 item. Seemed rather stark.
    You will never, in your life, get XE.com rates for anything involving purchase. It will give you a indication but add +2 to 5% to come closer to actual. Also keep in mind that some cards charge extra for non EUR currencies.


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


    metrovelvet wrote: »
    I had noticed about a 10 euro price difference on the exchange amazon.co.uk used and what xe.com uses for a E 50 item. Seemed rather stark.
    Stick 2-3% on XE as mentioned. In this amazon case I suspect you saw the sterling price and then went to checkout and you were charged Irish VAT on the item, on top of the exchange rate this could be the 10% you say. Retailers who do over a certain amount of business here are obliged to pay Irish VAT, e.g. amazon or pixmania or any of the big boys.

    With paypal you can log in and attempt to send money but do not confirm payment, this shows the days rate. t
    There is also a visa site which shows their rate and you can enter your own banks % on top of that if they have one, I can't find the link to the visa site though.


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