Paypal exchange rate ?

[cygnus]

Hi, does anyone know where can i find the details of the current Paypal exchange rate? Thanks.

[iceburn]

You could simply do a send money trial...type someone's email address, an amount, currency type and try it out BUT DON'T click PAY :P

[STL]

I hate that ambiguity too. I normally minus 2.5 cents on the US, and 1.5 pence on the GBP official exchange rates (the two I most commonly use) and that's pretty accurate with paypal exchange rates

Or you can do what Daniel suggests but that's a massive pain

[Adzma]

Alternatively there's always XE.com (http://www.xe.com/) which provides an extremely up-to-date (refreshed each minute) exchange rate. Unfortunately PayPal's isn't quite as advanced, meaning sometimes you pay less and sometimes you pay more then XE's given price.

[iceburn]

mine would be the most accurate but yes, agree with STL its a painful method

[cygnus]

thanks iceburn but thats really troublesome (thu at last i m still stick with this method)

I don't really understand STL's method by how just adding cents and pounds ???

have to pay a huge amount for me, so now keep checking when s the best time. :D

[jaydisc]

I'm fairly certain that PayPal uses the standard rate but tacks on an additional 1-2% conversion fee. I'm also fairly certain that the additional amount they add on is documented on their site.

[cygnus]

I'm fairly certain that PayPal uses the standard rate but tacks on an additional 1-2% conversion fee. I'm also fairly certain that the additional amount they add on is documented on their site.

i know about the conversion fee..
but have no idea their rate is a fixed rate? ??
What if the real rate is close to 1:1 then?
That will cause huge lost to buyer/seller while just benefits paypal itself.

[jaydisc]

They use the standard wholesale rate (you can get from oanda.com) and add 2.5% on top of that to cover themselves. A standard credit card adds about 1.5% so that's not too bad.

You could always just use PayPal's public currency converter ;-)

https://www.paypal.com/au/cgi-bin/webscr?cmd=_convert-currency-generic

[cygnus]

it helps . Thanks (damn...just found that i overprized~!!! :eek:)

[Tiby]

Just remember PayPal is there for PayPal. Being an eBay company it is simply another way for eBay to make money.

As a seller, it automatically puts PayPal as preferred and you can't change it. I have to put BIG LETTERS in the auction to say no PayPal for Australian buyers - the costs to the seller are even worse than the costs to the buyer.

[TheDirtyDigger]

Yeah and the bastards have just made rules about that Tiby.
Conditions of auction are now that if you list Paypal as an accepted form of payment you are not allowed to discourage buyers from using that under any circumstances.
I've just bit the bullet and accept Paypal now.....:mad:

[Rampage]

Yeah and the bastards have just made rules about that Tiby.
Conditions of auction are now that if you list Paypal as an accepted form of payment you are not allowed to discourage buyers from using that under any circumstances.
I've just bit the bullet and accept Paypal now.....:mad:

i just add a few bucks to the shipping price to cover the paypal fees if u pay by bank deposit i don't charge you the extra couple of dollars on the invoice

[Tiby]

Rampage, the rules can bust you for that too. At the moment I am willing to take my chances with the disclaimer in my auction. After all, a contract is between buyer and seller. eBay is not an escrow facility, just a listing medium.

[Borgeman]

well i had a look on paypal - you can choose their own conversion rate, OR you can choose for your card issuer to handle the exchange rate.

Now, my card is from Comm bank, and their online exchange calc said that the AUD was ~USD92.xx

i learnt from GE Finance (my new work :)) that mastercard use xe.com for currency exchange rates.

so as a comparison today at the time of this post:

AUD$1.00 gives us
paypal rate: ~85.xx US cents
xe.com rate: 89.9968 US cents
comm bank rate: 92.47 US cents

so, if the comm bank use their own converter or xe.com, it is still much better than paypal's rate. paypal stipulates that the conversion by the bank may be a couple of days after the transaction. but unless the dollar drops significantly over 2 days, the rate you end up with will still be better than that at paypal.

George

[STL]

Curious, I was having a look at that conversion issue today too. Very peeved. I need to pay for something big but the exchange rate paypal is quoting me is 0.8681.

Going by current exchange rates it is 0.8996. Minus paypal's 2.5c, the exchange rate should be 0.8746.

I've been refreshing for two odd days now but they won't change the exchange rate from 0.8681. I'm really cut b/c that's a lot of money I'm losing on the transaction since it's such a high amount.

I'm really tempted to convert to the other (visa conversion) method. Has anyone tried that? Would they recommend it?

[Borgeman]

well i did it just before i posted above - so i shall let you know what my final exchange rate is ( i wont know until it appears on my card statement online)

George

[cygnus]

never realize my post is still here..

hey, as I m one who don't have credit cards.
Is anyone willing to help me through?
since I ve to pay US$237 something ,
I really want to get rid of the paypal rate which cut me off so much.

*dang*

I also did what rampage does, to put a few bucks more in the auction as to cover charge, but some bastard just say the buyer shouldn't take the cost and refused to pay at all. (So why is he bidding on my stuff if all price is listed?)

[STL]

Well, as a buyer, I don't like the extra charge but I can understand it. So as long as the seller is upfront about it to me, I have no problems. That way, I'm paying with the knowledge of the costs in front of me and not after.

I once tried to add the paypal fee in my item description and was notified by eBay that it was a "inappropriate listing" b/c I said something along the lines of "Paypal charges me as the seller an extra fee so I'm going to pass on that onto the buyer if they choose to pay via that method."

Not many ways to get around the system. I don't mind paying a bit extra for that as long as seller lets me know or incorporates it in the item price.

[cygnus]

oh...wat i actually do is just add more in the postage and put the whole cost as "shipping cost" in the auction.
but it only works on small amount. (nothing more than $5/$6..)

So the point i concern is, why people still bargain after winning the auction?
The cost can actually be Ebay non-related, like if u treat seller as a company, there are things like "management cost".

But if the auction clearly stated out all the budgets, why people just don't think they have the responsibility to their bids as a valid contract which agrees on all the terms?

Anyway, actually so far I only met 1 bad ebayer;
all guyz are normally great and offer lots of help.

[Borgeman]

ok i got my transaction in my bank acc - it was $120.24 + $1.80 intl transaction fee :/

anywho thats $122.04 all up, from $106.60US thats a rate of 0.8735
right now xe.com has it at 0.8814

my last post showed:
AUD$1.00 gives us
paypal rate: ~85.xx US cents
xe.com rate: 89.9968 US cents
comm bank rate: 92.47 US cents

so at the end of the day, i still better than paypal, and had the dollar not dropped, i probably would have saved a bit more.

only thing i didnt know abt was that fee for overseas payment....

George

[jaydisc]

I just completed a transaction at PayPal using my credit card's conversion rate. PayPal claimed that if I was to let them convert, my US$125 purchase would have been 146.09 (I noticed this fluctuate from 145ish just from going forward and back in my browser). The actual transaction when converted by Bendigo came to $145.53... so in my case, a minimal difference.