PayPal exchange rates?
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  1. #1
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    PayPal exchange rates?

    Excuse me if Iím in the wrong forum, I wasnít quite sure where to post this one.

    I canít find PayPal exchange rates anywhere. Iím in the UK and quite often Iím on sites that have prices in Euros, USD and Yen.
    I can check the exchange rates on the web to give me an idea (Iíd use xe.com or similar), but I never know exactly how much Iím going to pay until the transaction is done.

    Is it possible to find out what the payment would be before the order is placed?

  2. #2
    Member Armchair's Avatar
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    Re: PayPal exchange rates?

    Quote Originally Posted by Stan_G View Post
    Excuse me if I’m in the wrong forum, I wasn’t quite sure where to post this one.

    I can’t find PayPal exchange rates anywhere. I’m in the UK and quite often I’m on sites that have prices in Euros, USD and Yen.
    I can check the exchange rates on the web to give me an idea (I’d use xe.com or similar), but I never know exactly how much I’m going to pay until the transaction is done.

    Is it possible to find out what the payment would be before the order is placed?
    Hi Stan,

    PayPal rates are always much worse than bank rates - it's another way that PayPal make money on top of their fees.

    However, if you fund your transaction using your credit card, you can opt to use the MasterCard or Visa exchange rate. As a rule of thumb, using your CC's rate will save you approx £15-20 on a £500 transaction.
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  3. #3
    Member thehoracle's Avatar
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    Re: PayPal exchange rates?

    Agree with the above post, and some CCs offer no forex transaction fees.


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  5. #4
    Member mleok's Avatar
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    Re: PayPal exchange rates?

    I always link a credit card with no foreign transaction fee to my Paypal account, so that I can get the most favorable FOREX rates when buying something from abroad.


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    Member Gazza74's Avatar
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    Re: PayPal exchange rates?

    Just a point for everyone to note (and I don't know if this is recent).....this morning I bought a watch from Chritopher Ward using their Canadian website as it works out a bit cheaper than the U.S. Site. When checking out, PayPal was using their conversion even though I selected a credit card. I'm not sure if this would apply to other currencies too, but I had to click on where the conversion rate was showing up, and I was able to select an option to let the billing be in Canadian $ and let my credit card company do the conversion. My point is to check and make sure PayPal is not doing the conversion for you and billing your card in USD.
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  7. #6
    Member Glacier's Avatar
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    Re: PayPal exchange rates?

    Oh I read on some random forum (I think it's Whirlpool) that popped up in my google search (about 2 months ago) saying PayPal has better rates than our Australian bank credit cards, which on top of bad rates charges a fee. Maybe it's simply different in different countries?

  8. #7
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    Re: PayPal exchange rates?

    PP adds close to 3% on their exchange rate, then charge another 4% the other party to receive it, total tipoff, they have a box to check "Use your CC conversion rate" before you send the payment but is not very visible, as they obviously want to get you through their own crappy rate.
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  9. #8
    Member arcadelt's Avatar
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    Re: PayPal exchange rates?

    Quote Originally Posted by Stan_G View Post
    Excuse me if Iím in the wrong forum, I wasnít quite sure where to post this one.

    I canít find PayPal exchange rates anywhere. Iím in the UK and quite often Iím on sites that have prices in Euros, USD and Yen.
    I can check the exchange rates on the web to give me an idea (Iíd use xe.com or similar), but I never know exactly how much Iím going to pay until the transaction is done.

    Is it possible to find out what the payment would be before the order is placed?
    Stan_G, I presume PayPal is similar around the world, so I will show you how it is done in Australia, and you can see if it is the same in the UK.

    Open Paypal and you get to this window:

    Name:  Screen Shot 2015-12-28 at 14.41.27 .jpg
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    On the left, under the welcome note, you will see a section titled "PayPal balance". Click that link and it takes you to this window:

    Name:  Screen Shot 2015-12-28 at 14.41.42 .jpg
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Size:  94.1 KB

    On the bottom-left, you will see a link to "Manage currencies". Click that, and it will take you to the next window:

    Name:  Screen Shot 2015-12-28 at 14.42.10 .jpg
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Size:  148.3 KB

    On the right, you will see the form you can complete to determine the value of any Balance conversion and Payment conversion. The one you want to use to see what it will cost to pay is the latter. Fill in the form, selecting the appropriate currencies, and press the continue button to get your answer using the PayPal exchange rate. It will not add in fees, so you will need to work those out yourself, but you can do so by searching on PayPal fees in the PayPal help area. There are different fees and fee arrangements for both sending and receiving payments.

    Hope that helps.
    Last edited by arcadelt; December 28th, 2015 at 04:55.
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  10. #9
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    Re: PayPal exchange rates?

    I do a lot of transactions on ebay and use paypal regularly. The rates are usually 3 1/2 to 4 cents higher than what XE's rate is at. Hope this helps.

  11. #10
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    Re: PayPal exchange rates?

    I used PayPal to pay for my steinhart 500 titanium. PayPal charged 20 something bucks while my bank charged closed to 10 bucks. Then 1 week after I received my watch, fedex charged 21 bucks. Fml

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