Currency Conversion in paypal

vastare

O.G.
Feb 14, 2007
553
411
New York
I searched the forum but could not find answer. I am planning to buy an item from Australia. The seller has listed in AUD. At the bottom is says approximately in USD$$$. If I pay via paypal will I be charged an additional conversion commision or just paid whatever the exact conversion of AUD is but in USD.....Am I making sense?
Please anyone has any idea about this?
 

stylefly

Shopportunist
O.G.
Apr 22, 2006
4,470
1
Canada Eh
www.constylement.com
Paypal will do the conversion on your behalf and their conversion rate is brutal- they make money off of conversions like all banks and CC companies. There's really no way to avoid it, though...
 

pukasonqo

goddess of suburbia
O.G.
Dec 20, 2006
7,480
3,237
0z
thanks for the info. i saw this thread but had no idea of how to help the OP, plus it also clarified things for me. i knew their rate was awful!
 

vastare

O.G.
Feb 14, 2007
553
411
New York
Thank you so much! After hearing that I might have to pay customs duty and this conversion and the bag is no deal...at the end of all this bag is working out higher than brand new so maybe I will let it go. Thanks so much.

Paypal will do the conversion on your behalf and their conversion rate is brutal- they make money off of conversions like all banks and CC companies. There's really no way to avoid it, though...
 

mmmsc

O.G.
Feb 1, 2007
9,367
27
USA
I searched the forum but could not find answer. I am planning to buy an item from Australia. The seller has listed in AUD. At the bottom is says approximately in USD$$$. If I pay via paypal will I be charged an additional conversion commision or just paid whatever the exact conversion of AUD is but in USD.....Am I making sense?
Please anyone has any idea about this?
If you put it in your watched items, the price converted to US$ will show up there.
 

MiuMiow

O.G.
May 6, 2008
527
0
^^^ ITA


Just accept the transfer in the original currency and have the transfer to your account also done in the original currency. As said before, your own bank then does the conversion and you save money. The paypal rate is a shocker, added to the percentage they take it is a loss you'll want to avoid.
 

the-chus

CONTENTED
O.G.
Aug 13, 2007
1,895
0
As per my experiences, do not rely on the quoted amount showing in the auction page. it would not be the final exchanged amount as the exchange rate changes every a few hours. You would only get the exact amount when you proceed to check out and pay.

Also, as per my experiences, although it is awful enough, paypal's exchange rate is still slightly better than my credit cards' considering all the related fees.
 

the-chus

CONTENTED
O.G.
Aug 13, 2007
1,895
0
And you can never tell whether the next day's exchange rate is better or worse. So if you chose your bank to do the conversion, the actual money conversion would be posted like 1 or 2 days later, what if you get a worse exchange rate on the posted day? You can't really say that you could "save money" using the bank.

So I always use paypal to do the conversion right away although it sucks.
 

Ellie Mae

Peace B with U
May 24, 2008
10,677
3
Usually XE.com will quote you a monetary conversion amount very close to what PP converts. I use this site to look up conversions.
And it does change DAILY. And yes a 2.5% fee on top.