that is why im been charged over . i checked with the bank . bank advise not to convert through paypal instead buy in origin currency . thnks mate
Thanks for the tip! I wouldn't have thought to look at the conversion rate.
Did you contact PayPal? I would and l ask them why their conversion was off. Happy stacking!
how can i know their rate before sending the money?
that's right sir they took 16 usd from me after converting 500 euro
Yep, just had my 'get-screwed-by-paypal' experience. I wonder why they post on their page that they use the latest exchange rate. I do like the service of paypal but really dislike the fact that they're shifty snakes about it. I'll try to find another way. I sure don't want to put free money in their pockets. What slithering little, thieving, snakes. So pissed about this.
Paypal lately hasn't been letting me use my credit card currency rate... I'm wondering if my settings suddenly changed??
but hey I got some cool bars on the way lesson learned tho
wish I seen this before I ordered my 8 half ounce Atlantis mints I did the math and ended up paying 37 per ounce when you factor in m6 shipping with exchange rate
I hate fucking PayPal I work as a freelancer and get paid in USD using PayPal regularly. When I switch to my local currency so I can withdraw the money to my bank account I lose about 5% every time.
i get charged an extra $5 per $100 i spend when i use paypal and i always thought the currency converter i use must be wrong! :/
Good information. Thanks a lot mate will be more careful in the future.
Slacker, you cite an exchange rate of .8000(etc.) vs. .836?? and it added up to $100 added to your charge? That must have been a VERY large purchase price like maybe thousands of dollars?
They charge a 2.5% commission on currency conversions I believe. It's not 'sneaky', contrary to what someone else said in their comments. You can go to the manage currencies page and find out exactly how much you will get before making a transaction. Why would you expect them to do it for free? Go to your local bank and have a look at the spreads on their foreign exchange desk - I bet many of them are just as wide, if not worse than 2.5%.
Thanks, im having same problem. Its Euro on ebay when I pay, its pounds changed into Euro and good bit more Euro
You also have to be careful about using a credit card in another currency if you return the item. For instance let's say you bought a $2500 AUD coin from the Perth Mint. If you return the coin you'll get a $2500 AUD refund. If the USD is stronger when they process the return you'll lose money which could also be $100. So I think Paypal is protecting themselves from this possibility by charging 3% more on conversions.
Very informative video! Luckily I have never purchased an item from Ebay that is in foreign currency. But i will most certainly check now if i ever do. I typically stay away from purchases outside the US because many of them charge insane amounts for shipping like 20 to $40. I have made a few purchases from foreign countries but the price was in dollars and free shipping. Ebay is greedy they already charge us an arm and a leg for listing and paypal. To add insult to injury they try to stiff us on the exchange rate just bad business.
Great. I watched this video to late. I don't even want to know how much they just charged me.😞