PayPal isn't following the current exchange rate

@glitch (188)
Philippines
September 20, 2008 9:21am CST
I always resort to Xe.com in checking the exchange rate and I'm happy to see exchange from USD to PHP (Philippine Pesos) is higher. But, PayPal uses a lower exchange rate. Any international users have this problem when cashing in their cash to their local currency? I plan on asking support.
1 person likes this
3 responses
zweeb82
@zweeb82 (5653)
• Malaysia
4 Oct 08
If you read carefully, there's an extra 2.5% charge on foreign currency if I remember correctly. Just be careful when using PayPal anyway. They're good until you have a problem
glitch
@glitch (188)
• Philippines
4 Oct 08
Thanks! I guess that explains it. And thanks for adding me as well. I'll look into that 2.5%
1 person likes this
zweeb82
@zweeb82 (5653)
• Malaysia
5 Oct 08
No probs. Glad could help
suspenseful
@suspenseful (40193)
• Canada
20 Sep 08
I find that Paypal is quite fair in the exchange rate. The difference is that they use the exchange rate when you make the transaction or when you want to transfer your paypal money to your bank account. So if the rate went up higher or lower during the five days after you requested the transfer, Paypal will not lower or raise it. It makes it much easier because then I can see what will be in my bank account. I have not checked it recently though.
Sir_bobby88
@Sir_bobby88 (8231)
• Singapore
20 Sep 08
I do think that paypal exchange rate is fair enough , not much different for my currency , you can't really expect they give the best service without charging you anything isn't it .Just treat the different of rate exchange as a tips for them yea .
glitch
@glitch (188)
• Philippines
20 Sep 08
Yeah I was thinking that, but they give charges already for transfer and they have no indication of this "hidden charge". But, thanks for the feedback.