AFAIK, if your paypal linked mastercard, the exchange rate is rendered based on mastercard rate regardless the bank issuer. but if linked to visa, it’s based on bank own rate when transaction is posted. CMIIW.
I always use my CC conversion rate, since mine only charges the currency exchange, no conversion fee. It adds up.
From what I noticed with other CC rates, PP was comparable: Conversion plus about 2.5%.
I switched from the PP exchange rate to my CC rate, but noticed the other day my CC company now charges a 2.75% “non-sterling transaction fee” on top of their commission. Might go back to Paypal’s rates.
My credit card (Halifax Clarity) doesnt have a non-sterling transaction fee so I’d like to use that, but I dont see a way of doing it when using Paypal.
When you are in the PP pay stage, there is a “use other exchange rates” option. This takes you to a screen where you can use PP’s rate, or use your CC company rate. Bit difficult to explain - I just changed my setting to buy the O’Pen, and can’t explain properly lol.
Bottom line is you know (in my case) the sterling price you pay without having to wait for the CC bill. tbh, I think it’s six of one, half dozen of the other, but I was just surprised at a very long CC bill the other day, and finding a new line/fee for each PP transaction. Wasn’t like that last month.
Funnily enough I received a new credit card today, and a new set of contractual terms, where I noticed the 2.75% fee. That is on top of another fee, of I think 3%, but since I dumped the terms, I can’t find what it relates to.
Unusual for banks and financial institutions to screw their customers, isn’t it? 0:)
You can check your card company rates at their site usually, but you also need to check with your bank as many banks add % to the conversion, some don’t. PayPal rates are awful I never use them.
And yes Visa uses their own rate as well, all card companies do, doesn’t matter which one you have. Because they handle the transaction, not your bank. So they convert it to your cards currency based on their own rates.
You also need to have money on your card and it takes like 1-2 days for the card company to register that. So if you move money to your account and want to pay, you can’t and have to wait 1-2 days before being able to if you had insufficient money on it before and topped it up.
BLF and CPF works
CPASTE13SPRING works TENOFF does not