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Does PayPal publish it's currency conversion rates? If so, where are they? Thanks.
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Found it. It came in the auto reply to my question.
We receive a wholesale rate quote from our bank twice a day and add 2.5% to determine the retail foreign exchange rate to apply to transactions that involve a currency conversion.
To view the current exchange rate
- On the New PayPal website:
- Log in to your PayPal account.
- Click PayPal balance and then Manage currencies. I
- In the Currency Exchange section, enter your information and click Calculate.
- On the Classic PayPal website:
- Log in to your PayPal account.
- Click Profile near the top of the page.
- Click My money.
- Beside PayPal balance go to more and select Currencies.
- Enter the amount you want to convert under Currency Exchange.
- Select the currency to convert the funds from.
- Select the currency to convert the funds to.
- Click Calculate to see the currency conversion.
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How can they?? Currency conversion rates change on a daily basis worldwide !!
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Kudos / Solution appreciated.
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Rates change constantly. I think I read somewhere that PayPal sets their rate daily. Even so, my bank has a web page that shows their current exchange rates, both cash and credit. Google and Yahoo finance pages show multiple rates. It's obviously not rocket science to display real time data. I realize they take a 2.5% cut so maybe they think it's a better business move to keep their net rate hidden. Regardless, I've emailed them the same question.
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Found it. It came in the auto reply to my question.
We receive a wholesale rate quote from our bank twice a day and add 2.5% to determine the retail foreign exchange rate to apply to transactions that involve a currency conversion.
To view the current exchange rate
- On the New PayPal website:
- Log in to your PayPal account.
- Click PayPal balance and then Manage currencies. I
- In the Currency Exchange section, enter your information and click Calculate.
- On the Classic PayPal website:
- Log in to your PayPal account.
- Click Profile near the top of the page.
- Click My money.
- Beside PayPal balance go to more and select Currencies.
- Enter the amount you want to convert under Currency Exchange.
- Select the currency to convert the funds from.
- Select the currency to convert the funds to.
- Click Calculate to see the currency conversion.
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