Paypal Access Card and foreign currencies
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I have both pounds sterling and Euros in my Paypal account. If I use my Access card for a transaction in Euros, will I be charged a "foreign transaction fee"? Will the funds be taken from my Euro balance, or converted from my pounds sterling balance?
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I don't know why I'm bothering to answer my own question when this forum seems pretty much inactive, however...
I rang Paypal and was informed that despite having a Euro balance in my account, any transaction in Euros that is made with the Access Card will still be converted to Pounds Sterling and will still incur a foreign transaction fee.
My whole reason for getting the card was to use abroad so it's completely useless to me now. I really can't see any benefit to this card whatsoever.
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There's no benefit to you, but there's a big benefit to Paypal. They get to charge you 2.5% currency conversion fee even though the market rate is more like 1 to 1.5%.
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Open a PayPal account in somebody's name in that country you want to take the money to.
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when going to different country's try changing your primary currency and it might use that first instead of your normal currency.
I have yet to try this though.
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I don't use the PP Card when abroad because of the fees...There are much better cards to use e.g. Halifax Clarity Credit Card...no fees + the FX is at the commerical rate and not the tourist rate.
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