Avoid The Great Paypal Exchange Rate Rip Off

[mladen76]

Regardes all
I was not shoure in what part of forum I put this so if I made mistake I am sory...
In short I will just copy something I found on int. about this topic couse I belive many like me have never looked how mutch they where paying for PayPal Exchange Rate and if you are buying small maybe not so big mistake but if you are buying a lot big mistake

Paying for anything with Paypal in anything but your own currency will incur a Paypal exchange rate fee through their poor exchange rate. This isn't shown at checkout anywhere as Paypal just do the conversion and take a cut - about 3% - from any transaction payment conversion they do. Visa's exchange rate fee is 0- likely your bank's thus is BUT DO CHECK!

The trick is to make Paypal bill you in the original sale's currency and let your bank handle the conversion at market rate. To do this, go to https://www.paypal.com/uk/cgi-bin/webscr...&buyer_hub and click 'Conversion Options' next to your funding source. On the next page, change the selected option to 'Bill me in the currency listed on the seller's invoice' - don't worry about Paypal's scaremongering text about this, your bank/credit card likely handles this at market rates and doesn't add a further few percent for profit. Then just make your purchases knowing you'll be getting billed the exact market rate and not lining Paypal's pockets. Do make sure to check your bank's rate if any above the daily date.

Found via http://lifehacker.com/5957808/avoid-payp...tle-option

Visa exchange rate: "Currencies fluctuate every day. The rate shown applies to transactions processed by Visa Europe on 31 August 2013 with a currency conversion fee of 0.00%."

***Do check your bank's fees***

[paul_12345]

banks conversion rates can be worse than paypals!

[mladen76]

I asume it can, dependes what bank but I wonted for people to save money couse in many cases they can and in the end of my post clearly says - ***Do check your bank's fees***
Just an option to check whit warning to be carefull ether way..

[paul_12345]

well in the UK at least I'm sure they all charge and lloydstsb used to hide the fee also untill not long ago, so I'd rather just use paypal then at least you know the exact money and not have to check your banks fine print and re-check every time theres any appendments to their t&c's, although maybe of use to some.

[easybaba]

informative