Euro (1 Viewer)

[Griffs]

I would like to purchase an item of clothing from Ireland in euros via pay-pal.

Does anyone know if I would get the same rate of exchange or are there any charges that would

take away a very good deal.

Thanks.

Clive.

 

[DBK]

Good question and I don't know the answer but with the exchange rate at 1.44 you could indeed get a bargain.

Edit. Here's the answer. https://www.paypal.com/gb/webapps/helpcenter/helphub/article/?solutionId=FAQ1835&topicID=&m=ARA

 

[tonka]

"How does PayPal calculate currency conversion/ exchange rate?
Print

If a currency conversion is needed for your payment, we'll use a retail exchange rate. The retail exchange rate (set by an outside financial institution) is our wholesale cost of foreign currency plus a currency conversion fee. This fee depends on the currency you are converting into. See the 'Additional Fees' section of the User Agreement for details.

Keep in mind that some of the rates quoted in the media are the inter-bank rates that are available only to the largest international banks, which purchase currencies in quantities of US $1,000,000 or more. A more applicable comparison for consumers is the exchange rates quoted at airports or other consumer currency exchange shops."

Somewhere on your paypal account it tells you the rate,, Not sure where it is..

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[DBK]

After a lot of screen tapping, as the instructions given do not work on mobile PayPal account, I could apparently convert £10 into €13.98. Which is a good exchange rate and I guess if you were spending more it could be better.

But, and a big but, I don't trust them not to have some hidden fee or fine print which takes the shine off it! I'm a cycnic and can't help it. . I've sold a few things through eBay and always amazed how much the pair of them cream off.

 

[berni109]

As long as you pay in euros and the charge setup with pp is to charge u‘r credit card then u will pay what the CC Co normally charge u for foreign transactions. Which in my case is a card with no fees and commercial exchange rate.
If u have money on deposit with pp then they will use that and give u a cra* rate Plus a transaction charge I think. Same applies if u choose to pay in£.

 

[TheDentons]

Good question and I don't know the answer but with the exchange rate at 1.44 you could indeed get a bargain.

Edit. Here's the answer. https://www.paypal.com/gb/webapps/helpcenter/helphub/article/?solutionId=FAQ1835&topicID=&m=ARA

Hi where are you getting 1.44 exchange rate ?

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[big map]

Asda are doing 1.44.

 

[DBK]

Hi where are you getting 1.44 exchange rate ?

1.44 is the rate on the money markets, you won't get that yourself, but you might get within a few percent of it with the right card.
http://markets.ft.com/research/Markets/Currencies

Don't know about Asda, seems odd if they are quoting such a high rate. They've either made a mistake or have decided to start giving money away!

 

[Deleted member 29692]

Asda aren't quoting 1.44. They are quoting 1.4073.

As DBK says 1.44 is the current market rate which retail customers don't get. Anything around 1.40 is as good as you can expect. Ukash are 1.41 at the moment.

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[berni109]

To buy currency in the uk either on line or over the counter u are always going to loose a minimum of about 3 cents on the commercial rate. Some places will be significantly more( as they say) and don't use a credit card.
Using the right credit card abroad for a purchase of goods can get u the commercial rate on that day but watch out for cash advance fees on ATM transactions. Some debit cards even avoid that charge.

 

[zac]

paypal have always given poor exchange rates when purchasing items in either euros or dollars, best to use a credit card that do not charge for transactions abroad. moneysavingexpert.com has a lot of info on these. I use a Nationwide Select Credit Card as no fee, also I believe Halifax do a similar card.

 

[berni109]

On pp u have the option to pay in the currency of the seller if you look closely the avoiding pp doing a conversion.

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[Judge Mental]

I remember a few years ago I bought an ebike for german ebay and was far from happy with the PP exchange rate!...caution is the word.

 

[Griffs]

Thank you all for the replies, the jacket I wanted to buy worked out at 1.38 euros to the pound via p/p ,

Then my youngest son looked on amazon and hey presto the same price.

Clive.

 

[DBK]

Thank you all for the replies, the jacket I wanted to buy worked out at 1.38 euros to the pound via p/p ,

Then my youngest son looked on amazon and hey presto the same price.

Clive.

The Post Office is giving around 1.39 today on a £1000 so the PP rate isn't bad given I guess you spent less, although there was probably a delivery charge from IE to add.

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[Peter & Elaine]

Just checked this with tesco


Cash: 1,410.00 EUR £1,002.70
Rate applied: 1.4062
Commission: Free
Order total: £1,002.70

 

[TheDentons]

1.39. This morning

 

[Judge Mental]

I got just under 2000€ for £1400 this week at a rate of1.4140

Victoria currency exchange (insured and delivered)

I never go to store for cash as my niece had an attempted snatch just after she got some currency out at a branch

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