#1 Thu, Jul 28, 2011 - 12:26pm
was importing some silver via ebay and went to pay...
then realised that the conversion rate looked pretty bad.
I was aked to pay £597.25 for $950.
Rang my bank, todays rate with them is £535 +£2 transaction fee!
that means paypal is trying to make £60 just off conversion scamming!
Thought i'd warn you all and show you how to avoid it!
when you go to pay just before you confirm the amount you can see the local currency amount(after paypals exchange)
underneath that is "other conversion options"
and then select the option
"bill me in the currency listed on the seller's invoice.
I will not know which foreign exchange rate has been applied to this transaction until I receive my card statement from my card issuer. I acknowledge that by choosing this option, my card issuer will determine the foreign exchange rate to apply to this transaction, and that I will not be informed of the foreign exchange rate or any additional foreign exchange fees applied until I am billed by my card..." Then you get the bank rate instead!
I'd check with your bank first their rate tho(you never know when those crafty bar stuards will be corrupt)
Edited by: matthenue on Nov 8, 2014 - 5:27am