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Jeez they are bandits. Just bought something in US dollars and get less than parity. Turn on the tele and the AU$ is at $1.03.46.
PayPal currency conversion
Lshaybisc on 26/07/2012 - 18:55
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I'm going to shock you here, t c, by revealing that the Commonwealth rate is the absolute worst, bottom of the league. There is a site that gives you a comparison of all the banks' conversion rate but I can't remember it right now.
Yea, PayPal conversion is a rip, but they are monopoly in overseas payment, so they can charge what they want, and add a fee on top of that to the receiver.
Time to get a 28degrees mastercard.
No conversion fees/credit card fees. Just keep payment in foreign currency and you will usually get a very good rate.I Use it for all travelling and internet purchases.I've got a Citibank Plus debit card. I've continued to use Paypal for eBay purchases in foreign currency, in the (probably deluded) belief that I'm getting more protection. Plus it's easier.
I will have to check my beliefs out.
paypal are taking about 4% at the moment. i will put off buying what i wanted for a while.
I bought a gadget for $0.01 US (inc postage) the other day and paid by paypal and after conversion paid $0.02 AUD what a rip !!!
$0.01 gadget?
Can we have a link to what you bought?
www.bestexchangerates.net.au is the site… Watch out as some of the providers rates don't change with the market but when you call them they try to rip you off…
no worse than the banks I believe, commonwealth rate is listed as sell US @ 0.9901 and buying @ 1.0777
thats a 8 cent spread
plus everytime I bank transfered to overseas there was like a $15-20 fee.