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Thread: Paypal Exchange Rates

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    Default Paypal Exchange Rates

    If somone sends me 10$ how much does it actually come to once in my UK account? Anyone know where to find Paypal's exchange rate (seems to be different from my normal exhange rate site)?

    I can only find the £ to $ one and not the $ to £ one.

    Thanks

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    Default Re: Paypal Exchange Rates

    Just take the rate for £ to $ and instead of multiply, just divide to get the approximate rate from $ to £. It won't be exact because the rates change slightly when buying vs selling currency, but it will be close.

    Ie, if the £ to $ is 1.5, then instead of multiply 10 x 1.5 to get the amount in £ to $, just divide 10 / 1.5 to get the amount from $ to £.

    So, $10 / 1.5 = £6.67 approximately.

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    Default Re: Paypal Exchange Rates

    yea thats what i hate about paypal, they dont use the normal exchange rate, which is always higher than what they end up doing. I called them and asked, they gave me the name of what they use to get the exchange rate, they said its a common tool that banks and businesses use, but its not made available for "regular ppl" So we have no way of checking and verifying bc we cant google the name an see or anything

    and to top it off, they also said on top of the exchange rate they add an extra 2.5% fee they take out for exchanging the money.

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    Default Re: Paypal Exchange Rates

    Worked it out to 5% they take if I have a USD payment to my GB account then I sent it back out to a US account. They hide their numbers really well and really know how to stick the knife in!

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    Default Re: Paypal Exchange Rates

    ^Yes they do make it extremely difficult to find the details on a lot of things. I hate paypal. Shady shady shady.

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