What is going on with the FX rates

[BH-123]

As of mid Oct the dollar is getting .83 british pounds. Paypal has been using a rate of .78 for the past month. It hasn't been that weak in 2 years. A hidden fee of 6%. This has cost me over $200 in a month. I assumed the applied rate WOULD BE CLOSE to the real rate. This is fraud. They are skimming millions from customers. People don't even know they are getting ripped off.

[kernowlass]

@BH-123 

Well the 'rate to rate' comparison is never used by firms.

When I purchase a currency to take on holiday from the bank or post office I never get the rate to rate amount as the company I purchase from charges to convert the currency for you. Paypal do the same.

[BH-123]

yep 6%, and it's HIDDEN. They don't tell you. That's why it's fraud.

[kernowlass]

@BH-123 

Not hidden, its clearly shown in the currency conversion option in your paypal account.