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Author Topic: Paypal exchange rates  (Read 1380 times)
AniceInovation
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December 08, 2011, 06:09:06 PM
 #1

Made a purchase with paypal yesterday.
They valued 1 euro as 0.82 british pounds, although euro isn't and never got that low:
http://www.x-rates.com/d/GBP/EUR/graph120.html
Where 1 euro was arround 0.855 british pounds

I ended up paying some more euros than i should.
Should i complain? Has anyone ever noticed this kind of behavior from them?

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teflone
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December 08, 2011, 07:56:10 PM
 #2

Sorry, this is kinda funny..

But this is also why paypal sucks.. thats biz as usual for them, them rape you on exchange fees..

Contact your local MP, or Senator..   Cheesy

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December 08, 2011, 08:08:11 PM
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I'm fortunate my local banks have a 5-6% exchange spread.  Australia major banks are 10% and I've seen airport (Travelex) running 30% spreads on AUD/USD.

If you're losing less than 5%, you can gripe, but it's not the worst.  (Tried it on your credit card lately?)
notme
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December 08, 2011, 08:16:32 PM
 #4

From:
https://cms.paypal.com/cgi-bin/marketingweb?cmd=_render-content&content_ID=merchant/merchant_fees
1.0% cross-border fee and/or 2.5% currency conversion fee


0.855*0.965
0.825075

Sounds like you got a slightly worse rate than 0.855, or they truncated instead of rounding.

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Meni Rosenfeld
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December 08, 2011, 08:21:37 PM
 #5

For me they always take about 3.3% currency conversion fee.

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AniceInovation
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December 08, 2011, 10:13:56 PM
 #6

I really don't mind their exchange fees, if they where exchange fees.
They reported a low exchange rate, that's why i found it dubious.
They should be clear, stating the correct exchange rate and then applying the fee separately.
If they did, this kind of questions wound's appear this often.

Anyway emailed them with my complain, can't loose anything. The worse it could happen is i just won't see the 25 euros overcharged.

I would LOVE to pay in bitcoin, unfortunately it's eBay!

EDIT:
I really think those fees posted by notme refer to sellers, not buyers.

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December 08, 2011, 11:30:49 PM
 #7

The link in general yes.  But the quoted fees are for all international transactions.  I guess GBP/EUR might not fall in that category though I would expect the 2.5% conversion fee to apply.

https://www.bitcoin.org/bitcoin.pdf
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