PayPal foreign exchange fees

[cteno4]

it now looks like paypal is applying a 2-3% foreign exchange fee if you use your paypal funds to pay for an item that is in a different currency than your account is in. You are just charged the foreign amount if you put it on your cc linked to your paypal account. if your cc does not charge a foreign exchange fee then you will save yourself 2-3%.

I had not noticed them putting that much onto paypal foreign fund requests in the past, appears around 1% or so and could have just been how they did the exchange rate, but at 2-3% there must be a fee in there somewhere. trying to suss it out with their user agreement just makes your head hurt... but anyway it was 2-3% less with using the cc at the exchange rate the card gave me (about the same as paypals published account equivalency rate, but not exact thus the spread i gave).

jeff

ps if you want to know what visa mc forgein exchange you will be getting:

 

https://www.mastercard.com/global/currencyconversion/

 

http://usa.visa.com/personal/using_visa/consumer_ex_rates_us.jsp

Edited April 29, 2013 by cteno4

[Guest ___]

This is the only reason why I have kept my Capitalone account.

[cteno4]

Yep few cc companies are not passing along the fee these days. With all the fee restrictions now in the states it might not be much longer till they are all pass it thru.

 

Jeff