XE vs. eBay vs. PayPal Conversion Rates

[canofwhoopass_87]

This is a tad off topic - but I was thinking of setting up a mastercard debit card just so I can pay for items instantly through paypal. Currently, paypal withdraws funds direct from my bank account but obviously this takes up to a week each time.

This may or may not sound stupid but I was wondering, with a debit account attached to my paypal - how will it work? Will paypal ask me how I want to pay for an item each time? If I pay using my debit, will I have to load it up first with enough funds to pay for the item before completing the paypal transaction? Will the conversion rates be any different?

[jaydisc]

If you are talking about a Visa or Mastercard debit card, to PayPal, that's seen and treated completely like a credit card.

Paypal will always default to your bank account. You have to change this for every transaction. You need to manually choose to use your Credit Card (which we know is a debit card ), and then you still have the choice of whether PayPal or your debit card does the currency conversion. You have to look at your debit card documentation to see their currency surcharge (typically the same 2.5% as PayPal nowadays).

However, just like a credit card, if you choose to have your debit card due the conversion, you won't be assessed the rate at the day of the transaction. Rather, the 1-3 business days later when the money is actually taken out of your account. It's up to you to know when/how to use this to your advantage.

[canofwhoopass_87]

Ah good to know. I'll go ahead and set up the debit tomorrow - sick of those damn weeklong waiting times.

Thanks jay.

[Skyfire]

For those who are looking at overseas purchases through PayPal and want to compare how different countries stack up, I found PayPal's currency converter.