posted on May 9, 2001 09:19:26 PM new
I am a Paypal User in Australia.
Not long ago, I registered my bank account to get funds by Electonic Transfer.
Just now I sent in my first transfer - $150.
PAypal deducts a (reasonable) fee of $1.50 - leaving me with $148.50. THEN they apply an exchange rate (according to them - the latest available ) of 1.8284 - which leaves me with $271.51 AU.
HOWEVER at the same time, the XCOM "Universal Currency Convertor Web Site lists the current exchange rate as 1.91010, meaning that I am entitled to $283.65 AU
Damon, exactly where does Paypal get their rates? Aren't you PART of Xcom?
Are you intentionally using lower rate to get more money form International Users?
I would like the extra $12 AU - what are my chances?
There is a difference in the wholesale rates you are viewing and the retail rates we are paying. We are using the converter based on the rate we pay when it does get converted and it is the reason for the discrepancy you are viewing.
I am trying to get a nice little piece to explain this aspect.
posted on May 18, 2001 11:49:02 AM new
Hi Centenary,
Do not feel bad paypal puts it to all international customers. The rate that paypal uses is always 1 or 2 points below the rate billpoint uses on the exact same day.
eBay charges you one rate to list and billpoint transfers to you at a lower rate on the same day.
