Paypal Foriegn Currency Conversions
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Sage Collector
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Post Posted: Fri Feb 24, 2006 9:21 pm 
 

I think someone bought this up a while back...

I've just noted that Paypal offers 2 types of Currency conversions. One through itself were you can see what it is going to cost you straight away using their own conversion. This is set as a defult I believe and one that I have always used (not knowing about method 2 below) I've noticed that this tends to by out by a bit, I know they usually sell and buy under and over the convesion rate usually to make a profit as most banks do, but to me the "gap" between the two is quite a bit...

The other method is to allow your own bank to do the conversion for you. (so you use your own banks conversion price) Using this method means that you are unable to see exactly what it is costing you in your own currency...

Does anyone use the second method? does anyone know for sure if there is a saving to make? I', prob assuming that paypal is making another gouge for your $$ and not really telling you about the alternatives...

Brette:)

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Post Posted: Fri Feb 24, 2006 9:32 pm 
 

When do you get the option to use the bank rate? When you make a payment?

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Post Posted: Sat Feb 25, 2006 1:12 am 
 

Only when you are paying from one currency to another... there is a payments options under the estimated cost in your own currency, click on that and you are given the option...

Brette:)

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