Euro

Discussion in 'Motorhome Chat' started by Griffs, Jul 20, 2015.

  1. Griffs

    Griffs Funster

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    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.
     
  2. John Laidler

    John Laidler Funster

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  3. tonka

    tonka Funster Life Member

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    "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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  4. John Laidler

    John Laidler Funster

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    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.
     
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  5. berni109

    berni109 Funster

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    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£.
     
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  6. TheDentons

    TheDentons Funster

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  7. big map

    big map Funster Life Member

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    Asda are doing 1.44.
     
  8. John Laidler

    John Laidler Funster

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    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!
     
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  9. NickNic

    NickNic Funster Life Member

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    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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  10. berni109

    berni109 Funster

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    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.
     
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  11. zac

    zac Funster Life Member

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    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.
     
  12. berni109

    berni109 Funster

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

    Judge Mental Funster Deceased RIP

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    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.
     
  14. Griffs

    Griffs Funster

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    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.
     
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  15. John Laidler

    John Laidler Funster

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    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.
     
  16. Peter & Elaine

    Peter & Elaine Funster

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    Just checked this with tesco


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

    TheDentons Funster

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    1.39. This morning
     
  18. Judge Mental

    Judge Mental Funster Deceased RIP

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    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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