PayPal wrong exchange rate

bpb101

hi everybody , seams pointless but i bought a led keyring from h.k. off ebay
and i paid :
it cost £0.70 and i was charged €0.84 by pay-pal
including postage

by my calculations of 3 sources, XE, windows gadget(msn) and another website the cost would only be €0.82 (at most through the day(including rounding up)
(when i paid for it would only cost €0.81)
so why was i over-charged by 2c , really nothing but if they got 2c off everybody then it would be a lot,

any thoughts
is there some conversion tax

allthedoyles

Yes indeed , there is a conversion fee , ( not a tax ) and in your case it is 2.5 % above the wholesale exchange rate .

Below is extract from your Paypal user agreement where you can find all the fees you will incur using Paypal :

www.paypal.com

If your transaction involves a currency conversion, it will be completed at a foreign exchange rate determined by a financial institution, which is adjusted regularly based on market conditions. The exchange rate is adjusted regularly and may be applied immediately and without notice to you. This exchange rate includes a processing fee expressed as a certain percentage above the wholesale exchange rate at which PayPal obtains foreign currency, and the processing fee is retained by PayPal.

bpb101

thanks

jor el

Seriously? You start a thread over 2c! Paypal can charge whatever rate they want. They show you the rate before you pay, so if you didn't like it, then you shouldn't have paid.