splcrazy

i went to order something from DDM Last night and was about to pay by paypal when i see the conversion rate they believe was at aussie 89cents lol when its was supposed to be 91cents cos i checked at the same time online what the current aussie dollar was supposed to be , and its not just that everytime i pay by paypal i always end up paying higher than what its supposed to be . i think paypal is ripping people off and setting the conversion rate at whatever the hell they want

ThunderbirdJunkie

My Feedback: (3)

If you don't like it, don't use it.
Easy enough.

sheograth

Not sure how Paypal deals with currency conversion since I've only used it in USD. Paypal in general is very safe trustworthy, quite a great resource to have.

splcrazy

i do like it , but why the hell do i have to pay an extra $40 at their bogus fake conversion rates

ThunderbirdJunkie

My Feedback: (3)

$40 would be a lot with 4 cents on the dollar.

The point is....not everybody can keep automated systems up-to-the-second on exchange rates since they change so frequently, and always have.

Again, if you don't like it, don't use it.

splcrazy

lol sounds like you work at paypal

Dirty_Vinylpusher

Interesting.

My parents are visiting from overseas at the moment and when they looked at their credit card statement they said the same thing.
It seemed that purchases in different shops came through at different exchange rates.

Foxy

Between charges and conversion, I lost 40 euros (about $55) on a 1000E ($1250) transaction. I was disappointed. But like someone else said, it's not a bank, it's not free, they're in it to make money and the service they provide is invaluable, the reduced risk of not having to enter your cc details on every transaction you make is technically priceless.

splcrazy

so do they charge a fee on every purchase ? thats what im trying to work out cos evertime im paying way more than what it should be

Foxy

Yes, 3% on EVERYTHING.

Dirty_Vinylpusher

3%?

That's fair enough I suppose.

Anomie

I also consider it fair for the service they provide. Some things such as e-checks and some credit card linked payments may have a higher fee, but still not bad considering security.

mini-dude

I had no idea you were making so many $1,300.00+ orders

Foxy

Why not, he's into large scale cars. I just received some $1300 myself for one transaction. This is small change in our side of the hobby.

Foxy

That's the surcharge. God only knows how they work out the conversion, it's true though, they do stiff you on conversion. It's all to do with charges which in all honesty, are probably fair and reasonable.

Anomie

At least you do not need to pay something like a 9.75% sales tax [:'(]

Foxy

No, we (and the Australians) pay 18% VAT instead!!!!!!!!

Anomie

Okay! Never mind, then [&:]

Either one makes the Paypal fee miniscule.

kyleandtavion

My Feedback: (64)

I think it is a rip off but then again I am a trustworthy person who wouldnt shaft anyone. If anybody ever wants to use it on my stuff for sale it is on there coin.

tony0707

hi paypal fee's for the seller are 3.8% plus .30 cents- no charge to the buyer -out of USA rates are higher-i feel it is worth it to have instant money avaiable in your account to reinvest and the buyer protection that they extendif you get bad merchandise-let the seller pay the return shipping to himself-so yes some time is lost and time is money in biss-but thats the best you can do-with many computer transactionsmost people have a need to be HONESTTHANK THE LORD !!!

tony0707

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Jester966

I have also noticed the same thing, when paying from Canada.
Of course they need to make money, that is why they charge the 3% fee. But that fee is charged to the seller - as the buyer, I should not be paying anything extra.
I understand their exchange rate can't always be accurate, but it is interesting that it always works out in their favour, not ours...

My purchases are usually not very large anyway, so I will continue using paypal even if they are scamming me out of a few cents.

rotorbroke

I'll bet using PAYPAL overseas is sort of just like using your credit card overseas where you get apped with a transaction fee, and the worst conversion rate possible. Probably something similiar to exchanging your money at the airport. Just some of my personal experiences. You have to figure out if the convenience is worth it to you. And I would never use a credit card that charges an annual fee and does not provide a rebate or frequent flyer miles... imo

splcrazy

well i mean if you trust the site then take the risk not using paypal , i stopped using paypal long ago and saved heaps not paying the stupid fees

Sandmann_AU

When you use Paypal there's an option to use their (stated) conversion rate, or to bill you in US$ and have you use the your bank's conversion rate. Remember the rate you see on the news is not the same as the buy & sell rates. When the stock exchange tells you the conversion rate is currently AU$1=US$0.91 the banks will be buying US$ at a lower rate, and selling them at a higher one - it's not a straight swap, every currency conversion makes money for somebody and the buyer (you) pays for the privilege. There's often (almost always) a conversion charge on top of that too from the banks - paypal doesn't charge one.