Learn more in Community Events. I just had the same experience! They are not even close! If there was an itemization so I knew how they were ripping us off, I would appreciate it, but this is, simply put, clandestine robbery.
PayPal charges a 2. The exchange rate applicable to your transaction is displayed on the "Review Payment" screen before you complete your payment.
Where can I find PayPal's currency exchange rates? You can view the current exchange rate on your Manage Currencies page. I understand PayPal charging conversion fees Feel lucky to be getting European buyers at all, with the Euro down so far versus the Dollar. But it's a good time to buy items priced in Euros with Dollars. My question is a bit different. Only Paypal charged the conversion fee on the recipient side, not on the sender side. I'm wondering why the receiver should have to pay the conversion fee.
I don't mind paying it, and one would think it should be on the sender, not on the receiver. Does anyone have an idea why Paypal does it this way? An option would be to pay the seller in Sterling at which time you the sender would pay the conversion fee. A fee approximately 2. Conversion fees are generally not shown separately.
Actually, PapPal is different from other banks in many ways. In the case of exchange rates and currency conversion fees, the PayPal fee is ridiculously high. Sure, there are other banks that charge high rates like PayPal, but consumers have options and don't have to agree to such ridiculous rates.
The real problem here is that PayPal effectively hides the fee. As one poster notes, PayPal mentions it in the fine print of the account agreement, but it is nowhere to be found in connection with an individual transaction. Instead, PayPal reveals only the alleged exchange rate when processing individual transactions, which includes the outlandish conversion fee deeply buried within it so that the user is under the mistaken impression the exchange rate is a market-based rate.
It would be quite easy for PayPal to automatically reveal the currency conversion fee on each transaction just has it does the exchange rate.
I believe PayPal's refusal to do so confirms it does not want users to know the truth about the outlandish fee it charges. PayPal fooled me once. It won't happen again.
Next time, I will make sure a foreign currency transaction is processed in the local currency. Ask the Community Help the Community. Send Request Business Help Community. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Where do you get the exchange rate? All forum topics Previous Topic Next Topic. Log in to your account. Click the My Account tab. Click Profile at the top of the page. Click Currency Balances under the Financial Information column. Enter the requested information and click Calculate. It would stop the confusion. Privacy Legal Policy updates.More...