Sending english pounds to USA & convert to dollars

[greenishgray]

Hello - paypal is just NOT clear. If I want to send $100 (ie I want the recipent to recieve $100). If I use AMEX card (registered in sterling) - it then gives me a total charge on Amex of $100 on the SEND MONEY page and thats it.  It says I will be charged $100. But if I look at terms & condits it says in clause 8.2 that there is a conversion fee (not mentioned on the above page), and then as Amex charges 2.99% of any foreign currecy transaction who is right - will amex take a fee OR will  Clause 8.2 come in "you consent to and authorise PayPal to convert the currency in place of your Credit or Debit card issuer."  ie will Amex charge me 2.99% on top or not ?

Can I believe paypal when they say YOUR WILL BE CHARGED $100 ??? and that the conversion rate is 1.47864 ie £63.63 - is that all ?

Why when I say use Amex does it say I will be charged $ and when I use by bank does it say I will be charged £ ? Both are in £

[PayPal_Arda]

Hi greenishgray,

Welcome to our community page. 🙂

This is a great question. I am happy to help you with that. If you make an international payment using PayPal, we calculate the conversion rate. If you use your credit or debit card, you can choose to use your card issuer’s conversion rate instead of ours.

Here’s how to change your conversion rate when you’re making a payment:

1.    Click ‘Other Conversion Options’ under ‘Payment Method’ on the ‘Review your payment and send’ page.
2.    Choose ‘Use PayPal's conversion process’ or ‘Bill me in the currency listed.’
3.    Click ‘Submit.’

You can see our conversion rate under ‘Payment Method’ on the ‘Review your payment and send’ page.

If you choose 'Invoice me in the currency listed,' your card issuer determines the foreign exchange rate that applies to this payment. We will not be able to advise you of the rate at the time of payment but you will be able to find it on your credit card statement next to the purchase.

Here's how we set our exchange rate:

•    We receive a wholesale rate quote from our bank twice a day to determine the retail foreign exchange rate to apply to transactions that involve a currency conversion.
•    Our currency exchange rates are competitive with conversion rates used by banks and by currency exchanges. (Please keep in mind that some of the rates quoted in the newspapers or online are the inter-bank rates that are available only to the largest international banks purchasing currencies in large quantities. A more applicable comparison for consumers is the exchange rates quoted at airports or other consumer currency exchange shops.)

The total cost through PayPal is usually less than many international multi-currency bank transfers.
Here's how to view the current exchange rate:

1.    Go to www.paypal.com/uk and log in to your account.
2.    On your 'Summary' page, click PayPal balance.
3.    Click Manage currencies.
4.    Under 'Currency Exchange' (in the left panel) enter the amount you want to convert.
5.    Select the currency to convert the funds from.
6.    Select the currency to convert the funds to.
7.    Click Calculate to see the currency conversion.

If you wish to complete the currency conversion:

1.    Click Continue to review the transfer.
2.    Click Exchange Currency to confirm the transfer.

I am sorry for the inconvenience this may have caused.

Thanks for posting.
Arda