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As a buyer I sent €100 to a seller in Europe. I was charged $113.03 for the euro-USD exchange rate. The seller says they got €100 minus €5.75 netting him €94.25.
Is there any way I can verify what he says? Why was he charged so much by paypal? I thought it was like 2.9% (+$0.30).
Any idea where I can read the actual pricing formula PayPal uses?
And, if I have an agreement with a buyer that I will cover the PayPal fees, how can I independently confirm what those fees actually were?