Currency Exchange and Paypal

Discussion in 'PayPal' started by 8everything, Jun 5, 2007.

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  1. #1
    How often does paypal update their currency exchange rate? Do they do it daily (or faster?). Just wondering because I need this done :)

    Thanks!
     
    8everything, Jun 5, 2007 IP
  2. anthonyn

    anthonyn Well-Known Member

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    #2
    Currency exchange rates can vary on a daily basis.Paypal will always give you an update version always.Having said this, I would also like to state that you need not depend on paypal only.There are other ways of checking currency exchange rates too.
     
    anthonyn, Jun 5, 2007 IP
  3. E-IndiaWeb

    E-IndiaWeb Well-Known Member

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    #3
    daily bases but in .00x
     
    E-IndiaWeb, Jun 6, 2007 IP
  4. ajsa52

    ajsa52 Well-Known Member

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    #4
    I guess the exchange rate is updated daily, but they are applying an inflated exchange rate (aprox 4% worst).
    For checking Dolar/Euro currency exchange, I usually look at this page: http://finance.yahoo.com/q/bc?s=EURUSD=X&t=3m
     
    ajsa52, Jun 6, 2007 IP
  5. 8everything

    8everything Peon

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    #5
    Thank you:)

    I have been checking the rates via xe.com and then comparing them to paypal's.. they haven't budged much, I think the round it off.. regardless there's still a 50% conversion rate fee.. :(
     
    8everything, Jun 6, 2007 IP
  6. inworx

    inworx Peon

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    #6
    They do it daily.

    Also, they do keep 2.5% as their fees :(
     
    inworx, Jun 7, 2007 IP
  7. 8everything

    8everything Peon

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    #7
    Of the total amount being converted? Because the conversion rate is about 6% but they only give me a rate of 3% meaning they take 50% :eek:
     
    8everything, Jun 7, 2007 IP
  8. ajsa52

    ajsa52 Well-Known Member

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    #8
    On May/30 I made a currency exchange from dollars to euros.
    The official exchange rate (as seen on se.com) that day was 0.7452353032
    and PayPal made the conversion using this rate: 0.726218
    That was their 2.5% commision.

    Hope this help.
     
    ajsa52, Jun 8, 2007 IP