Difference between advertised PayPal currency exchange rate and actual rate during payment
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Hello,
I am looking to pay an article online and the site offers payment in USD. Coming from Europe, I chose to pay in Euro.
But the price in Euro seemed high so I checked and when paying the offered exchange rate is 1 EUR = 1,13234 USD whereas the exchange rate displayed by the currency calculator available in the "My Wallet" menu is 1 EUR = 1,1441 USD.
Why is there such a stark difference between the advertised rate and the one that is applied during payment?
- Labels:
-
Making a payment
-
Payment methods
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
PayPal uses a different exchange rate for balance transfers and for payments. If you convert money as a balance transfer within your PayPal account, you can get a better exchange rate, because the markup added by PayPal is smaller. Its just Paypals mark up (fee)
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If you used PayPal’s currency calculator, the rate given there may not be the actual one used and could differ from the moment of transaction. You get a close estimate, not the exact rate with the calculator.
Kudos & Solved are greatly appreciated. 🙂
Haven't Found your Answer?
It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.
- Different exchange rate in Payments Archives
- How could PayPal Take Advantage from a Declined Withdrawal?! in My Money Archives
- US purchase with GBP - pay pal have different exchange rates in PayPal Basics Archives
- Less Money in Payments Archives
- Paypal is taking money that is not theirs in Disputes and Limitations Archives