What is the best time of the day to buy online - for Stering - Euro exchange rates?

another question

I am buying a high cost item on Amazon.co.uk.

Because the item is not ready for dispatch for 3-4, they will only quote me a Sterling price and not the Euro price as they do if the item is ready for immediate dispatch.

I used xe.com this morning and again now and there was a difference of a couple of euros between the two times with now been more expensive than this morning.

Would it be a correct estimation that to purchase in the morning is generally a cheaper options. I don't know anything about how exchange rates work or anything to do with opening and closing markets.

L1011

Amazon use daily rates from memory. You may save more by paying in euro and letting your bank convert.

Xe rates are midmarket and are very different to bank or business rates

sandin

currency market changes up and down depending on a huge number of things - unless its tens of thousands, the difference is quite small on a daily basis, though economic figures released on a particular day can change things by 2% sometimes.

Last week, a good exchange rate was 1.17, this week its about 1.19, next week who knows?

rubadub

MYOB wrote: »

You may save more by paying in euro and letting your bank convert.

I think you meant pay in sterling and let the bank convert. I always pay in sterling and let the bank convert. I have noted what it would have cost in euro on a few items and it was always cheaper to pay in sterling.

XE is not the rate you get, you can check online to see what visa or mastercards current rates are, you have to know your bank charges too.

another question

rubadub wrote: »

I think you meant pay in sterling and let the bank convert. I always pay in sterling and let the bank convert. I have noted what it would have cost in euro on a few items and it was always cheaper to pay in sterling.

XE is not the rate you get, you can check online to see what visa or mastercards current rates are, you have to know your bank charges too.

How to I opt to pay in Sterling though? Anytime I have purchased on Amazon in the past, it always says what the price will be in Euro and that is always exactly what it is. I have never bought something where they haven't shown the euro price before. There are not showing it because there is a restriction on the Amazon Currency Converter for items with estimated dispatch after 14 days.

rubadub

another question wrote: »

How to I opt to pay in Sterling though?

At checkout there should be selection option, a box or something near the displayed price. There is a way to change it in your user account so it shows sterling as the default preferred option so you do not have to select each time.

another question

rubadub wrote: »

At checkout there should be selection option, a box or something near the displayed price. There is a way to change it in your user account so it shows sterling as the default preferred option so you do not have to select each time.

Ok thanks, I'll take a look at that now. If I choose that option, how do I go about estimating the cost in euro then? (by using the mastercard rate and adding the bank charges?)

Also, when I 'place order' how long with it take for my card to be charged seens as it says 'estimated dispatch 3-4 weeks'

MBSnr

I use Oanda and have found it the best converter and an actuate idea of what the banks will charge;
http://www.oanda.com/currency/converter/

Choose the Interbank rate of around 3% to get an idea. Paypal and Amazon tend to be about 4% (as I recall).

another question

rubadub wrote: »

At checkout there should be selection option, a box or something near the displayed price. There is a way to change it in your user account so it shows sterling as the default preferred option so you do not have to select each time.

I couldn't find the select sterling option. The only option I could see was to change my card currency (which is euro) to sterling, is that what you mean?

rubadub

another question wrote: »

I couldn't find the select sterling option. The only option I could see was to change my card currency (which is euro) to sterling, is that what you mean?

I would say thats it.

Heres is paypals current rate
https://www.paypal.com/helpcenter/main.jsp;jsessionid=FsCDKwwLdkDspHhmD0W9VTX2c2n1hsBJPwVJpC1FQw18Kp3XHQl3!66163787?t=solutionTab&ft=homeTab&ps=&solutionId=163394&locale=en_GB&_dyncharset=UTF-8&countrycode=GB&cmd=_help&serverInstance=9006

and visa and mastercard, visa lets you put bank charges in.
http://www.visaeurope.com/en/cardholders/exchange_rates.aspx

https://www.mastercard.com/global/currencyconversion/index.html

note mastercard does not have the additional fees.

L1011

rubadub wrote: »

I think you meant pay in sterling and let the bank convert.

Yes, yes I did.

I've never once found a site (or store/restaurant, tourist traps often do this) that offers to charge in local currency that worked out cheaper than the cards own rate and fees.

MBSnr

Just in case anyone wonders don't choose to pay in GBP if you are buying a multiple number of items that cost a small amount in Amazon.

I decided to pay in GBP instead of Euro as a test as I normally don't bother changing it. It was a Free Super Saver Del order, but unfortunately I was billed separately for a number of the lower cost items, each with a bank charge of around 25c and a Exchange Rate Transaction Fee of 25c. This bumped the final Euro price up a few Euro above the one I was offered on checkout.

So in the case of multiple small cost items, I'll be choosing to pay in Euro next time....

pleasant Co.

MBSnr wrote: »

Just in case anyone wonders don't choose to pay in GBP if you are buying a multiple number of items that cost a small amount in Amazon.

I decided to pay in GBP instead of Euro as a test as I normally don't bother changing it. It was a Free Super Saver Del order, but unfortunately I was billed separately for a number of the lower cost items, each with a bank charge of around 25c and a Exchange Rate Transaction Fee of 25c. This bumped the final Euro price up a few Euro above the one I was offered on checkout.

So in the case of multiple small cost items, I'll be choosing to pay in Euro next time....

If you choose to send your items in one load you won't have to pay that fee for each item, but of course if you choose to have them sent separately then you'll be charged each time.

MBSnr

pleasant Co. wrote: »

If you choose to send your items in one load you won't have to pay that fee for each item, but of course if you choose to have them sent separately then you'll be charged each time.

No, you're incorrect. All the items arrived in one box, grouped together as a super saver delivery. However (for some reason, probably the type of item) Amazon processed the payment individually from the order and charged those separately against my debit card. Therefore I paid a bank and transaction fee for each billed item in GBP, even though it was one complete order.

Looking back on my older Amazon orders I found a previous one in GBP. I see separate item billing occurred on that as well. Seems to be only on orders placed in GBP.

Hope that makes sense.

pleasant Co.

That's really odd MBSnr, I've placed many (various types of) orders with amazon and have always been changed in one payment, per order, in GBP. Clearly this is a question for amazon to answer, perhaps they made an error or if not perhaps they can explain why you were charged per item on a complete order.

3DataModem

MYOB wrote: »

Yes, yes I did.

I've never once found a site (or store/restaurant, tourist traps often do this) that offers to charge in local currency that worked out cheaper than the cards own rate and fees.

I've seen a few, but not in Ireland. AIB and BOI are pretty cheap for credit card FX.

MBSnr

That's really odd MBSnr, I've placed many (various types of) orders with amazon and have always been changed in one payment, per order, in GBP. Clearly this is a question for amazon to answer, perhaps they made an error or if not perhaps they can explain why you were charged per item on a complete order.

You're right, perhaps I should ask them.
The individual items billed separately were kids pencils, some office stationary and sunglasses....
The other items were all lumped together as one charge.

rubadub

MBSnr wrote: »

The individual items billed separately were kids pencils, some office stationary and sunglasses...

Were these all from amazon themselves, and not third party people fulfilled by amazon?

I always wondered if the "fulfilled by amazon" items would come altogether.

MBSnr

rubadub wrote: »

Were these all from amazon themselves, and not third party people fulfilled by amazon?

I always wondered if the "fulfilled by amazon" items would come altogether.

Yes all from Amazon themselves - on the item page it says
Dispatched from and sold by Amazon.
and on the order
Sold by: Amazon EU S.a.r.L.
All arrived in one box obv. dispatched from the same depot. Other times an item has arrived separately due to it being held in another Amazon depot.

I have one item on a much older order that was billed separately but that was understandable as it was is listed as
Sold by Home & Travel and Fulfilled by Amazon.

I know it's trivial amounts but as I mentioned previously, I think regarding small multiple items you should pay in Euro at checkout.

Here's an example. Item was £3.30. Euro checkout on Amazon uses 0.82p/Euro - cost is €4.02 billed directly to card.

But I let the bank do the conversion and they used a rate of 0.85 giving €3.88. But I was then charged 50c overall fee on top - €4.38.

Just to add further - I had to get a refund in GBP for an item and the refund was subject to a bank charge and a conversion fee as well! Again it's only cent we are talking about but worth knowing.

pleasant Co.

rubadub wrote: »

I always wondered if the "fulfilled by amazon" items would come altogether.

They do, one of my recent orders was a mix of products from amazon themselves and a marketplace seller operating under the "fulfilled by amazon" scheme.

The Glass Key

Took a note of my last purchase price in Euros for amazon.co.uk and it was €49.70 (£40.86) and changed back to the sterling price and paid by my normal Irish credit card in pounds. Just checked my CC bill now and was charged €48.72. So on those figures its was 2% cheaper to pay in pounds and not use amazons euro prices.

The Glass Key

The Glass Key wrote: »

Took a note of my last purchase price in Euros for amazon.co.uk and it was €49.70 (£40.86) and changed back to the sterling price and paid by my normal Irish credit card in pounds. Just checked my CC bill now and was charged €48.72. So on those figures its was 2% cheaper to pay in pounds and not use amazons euro prices.

but amazon also charge cross border tax of 88p for video game also