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PAYPAL currency conversions BEWARE.

  • 15-02-2012 10:30pm
    #1
    Greenman
    Registered Users, Registered Users 2 Posts: 2,962 ✭✭✭


    Just my 2 cents on PAYPAL.

    I like them and have used them for over 8 years. I buy bits and pieces from mainly Ebay in the BUY IT NOW section and never thought much on the currency conversion rate.

    Last week I wanted something in UK on a reputable cycling wedsite advertised €330 delivered, when I went to pay with PAYPAL it had shot up to €342. I checked the sterling conversion rate on xe.com and sure enough it was €330.

    It seems PAYPAL has their own conversion rate tilted upwards. I'm happy for them but when you see and item €330 delivered and PAYPAL want more I feel its not totally honest.

    Anyway rant over. :confused::confused::confused:


Comments

  • #2
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Can you not choose to decline the Paypal rate and take the rate from your credit card provider?

    Better suited to Online Buying & Auctions

    dudara


  • #3
    MOH
    Registered Users, Registered Users 2 Posts: 6,465 ✭✭✭MOH


    You'll never get the xe.com rate in any FX transaction, it's always be a few cents extra.
    You should be comparing it against the daily rate of your credit card provider.

    The figures you've quoted don't seem that excessive.


  • #4
    pixbyjohn
    Registered Users, Registered Users 2 Posts: 6,250 ✭✭✭pixbyjohn


    Greenman wrote: »
    Just my 2 cents on PAYPAL.

    Last week I wanted something in UK on a reputable cycling wedsite advertised €330 delivered, when I went to pay with PAYPAL it had shot up to €342. I checked the sterling conversion rate on xe.com and sure enough it was €330.
    Anyway rant over. :confused::confused::confused:
    What was the rate of exchange stated on the email that Paypal sent to you ?
    They always let you know the exchange rate they charge. XE currency website is never accurate as per your local bank.


  • #5
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    This is the first time you noticed this in 8 years?!? Did you really think you'd get the xe.com mid-rate?
    Paypal don't hide their charges or fees.


  • #6
    elaicah
    Registered Users, Registered Users 2 Posts: 50 ✭✭elaicah


    Greenman wrote: »
    ..on a reputable cycling wedsite advertised €330 delivered
    Greenman wrote: »
    ..I checked the sterling conversion rate on xe.com and sure enough it was €330.

    If the item was advertised for €330 on the website, you should have the option of paying in Euro instead of UK£


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  • #7
    sandin
    Closed Accounts Posts: 1,594 ✭✭✭sandin


    Paypal are a little higher than the credit cards, but the difference is quite small especially with the convenience factor added in.
    The site obviously has an xe.com auto converter on the site which is misleading. If you had paid by mastercard or visa you would have paid 338.25


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