Could anyone give me advice on what is cheaper to use when buying online, paypal or debit card? I think my bank has a conversion rate charge and what i can gather paypal has lousy conversion rate on the AU dollar. I think every cent counts, especially when paying a few hundred dollars on an item. Thanks.
What should I use, Paypal or Debit card?
Ltelby on 24/07/2013 - 23:02
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28 degree MasterCard
that's a credit card :)
for debit, use citibank plus visa debit with zero fees including zero forex fee - better rates than paypal forex
Thanks for the info. I use a Visa direct debit card and my bank charges 3% of the converted Australian Dollar transaction amount.
check if it's an international transaction fee (so applicable to overseas aud transactions) or actual forex fee - paypal forex is ~2.5%
in any case, sign up for http://www.citibank.com.au/plus3 :)
If using PayPal credit card transactions, banks will always take a cut:
AUD transaction to overseas merchant attracts a bank fee (usually about 1%)
Foreign currency converted to AUD (via PP) attracts the same fee + PP currency conversion marginPaying directly with your credit card will attract whatever the banks fees are plus the Visa/MC conversion margin.
This method gives you direct protection for fraudulent activity and non-supply, plus whatever add-on features your particular card gives.PayPal adds product protection for 6 months - if the goods don't live up to claims they will reimburse postage to send the goods back to the merchant and get/give you a refund if the merchant isn't playing ball.
What is your bank's conversion charge?