Paypal exchange rates!!!

[Half-Saint]

I just need to get this off my chest...

Just decided to withdraw 330 USD only to find out that I'll be receiving 290€. What?! I quickly checked to see, if US Dollar suddenly lost value but no. It's just PayPal and their stinking rip-off exchange rates! According to PayPal 1 U.S. Dollar = 0.8876 Euros! Bloody daylight robbery! The local banks have an exchange rate of 1 to 0.925 which means I basically lost 13.5€ to PayPal on top of their standard 2€ withdrawal fee. Greedy bastards...

Unfortunately, I don't have an option of withdrawing US Dollars without the conversion. I wish someone could step on their toes.[TABLE="width: 100%, align: center"]
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[-Acid-]

If you have this balance through selling items you should instruct buyers to pay you in your own currency and then you will avoid these problems. If it's unavoidable to be paid in dollars then you just have to grin and bare it.

 

[RED IMPACT]

Have buyers pay you in your local currency?

 

[Half-Saint]

Have buyers pay you in your local currency?

How do you do that?

Sent from my XT1032 using Tapatalk

 

[khimru]

I was sure everyone knows how to do that…

1. Open the PayPal.com and log into it with your credentials.
2. Open your account settings (gear icon at the top right).
3. Find “Preapproved payments” at the bottom right pane (under “Payments”, naturally). Click it (even if you don't plan to add any pre-approved payments!).
4. Find “Set Available Funding Sources” and click it (no, we'll not plan to pay anything regularly!).
5. You'll see the list of “Available Funding Sources” there.
6. Near the card you want to use there's “Conversion Options” link. Click it.
7. Now, finally, you have a selection you need: switch from default “Use PayPal's conversion process to complete my transaction using my card's currency” to “Bill me in the currency listed on the seller's invoice”. Make your choice and save it.

Note that rules of the bank could be different and it could be cheaper sometimes to “Use PayPal's conversion process” (for example banks may incur fixed cost for each transaction).

 

[Half-Saint]

Would listing an item on eBay.de and checking "International visibility" be a good alternative?

 

[RED IMPACT]

I was sure everyone knows how to do that…

1. Open the PayPal.com and log into it with your credentials.
2. Open your account settings (gear icon at the top right).
3. Find “Preapproved payments” at the bottom right pane (under “Payments”, naturally). Click it (even if you don't plan to add any pre-approved payments!).
4. Find “Set Available Funding Sources” and click it (no, we'll not plan to pay anything regularly!).
5. You'll see the list of “Available Funding Sources” there.
6. Near the card you want to use there's “Conversion Options” link. Click it.
7. Now, finally, you have a selection you need: switch from default “Use PayPal's conversion process to complete my transaction using my card's currency” to “Bill me in the currency listed on the seller's invoice”. Make your choice and save it.

Note that rules of the bank could be different and it could be cheaper sometimes to “Use PayPal's conversion process” (for example banks may incur fixed cost for each transaction).

^ what he said!

 

[Half-Saint]

I was sure everyone knows how to do that…

1. Open the PayPal.com and log into it with your credentials.
2. Open your account settings (gear icon at the top right).
3. Find “Preapproved payments” at the bottom right pane (under “Payments”, naturally). Click it (even if you don't plan to add any pre-approved payments!).
4. Find “Set Available Funding Sources” and click it (no, we'll not plan to pay anything regularly!).
5. You'll see the list of “Available Funding Sources” there.
6. Near the card you want to use there's “Conversion Options” link. Click it.
7. Now, finally, you have a selection you need: switch from default “Use PayPal's conversion process to complete my transaction using my card's currency” to “Bill me in the currency listed on the seller's invoice”. Make your choice and save it.

Note that rules of the bank could be different and it could be cheaper sometimes to “Use PayPal's conversion process” (for example banks may incur fixed cost for each transaction).

^ what he said!

I did all that and I'm not sure it changed anything. When I wanted to withdraw from my GBP balance, the amount still got converted to Euros before the withdrawal.

 

[khimru]

I did all that and I'm not sure it changed anything. When I wanted to withdraw from my GBP balance, the amount still got converted to Euros before the withdrawal.

Uhm... That was answer to a different question, I'm afraid.

That was instruction for the BUYERS: how to pay you in your local currency. If you want to withdraw Euro then THEY must pay in Euro (as in the instruction cited above). When funds will be withdrawn from their account in bank bank would convert them, not PayPal.

If funds are on your account in GBP and you don't have an account in GBP in bank then it's already too late.

 

[Deleted member 14264]

Have buyers pay you in your local currency?

How do you do that?

I can't believe I'm reading this!

Tell your buyers "I will only accept (my local currency) as a form of payment."

I had people send my Australian dollars a few times. I refunded them and sent them an e-mail saying "Please send US dollars or Euros only".

 

[Arnie]

Have buyers pay you in your local currency?

How do you do that?

I can't believe I'm reading this!

Tell your buyers "I will only accept (my local currency) as a form of payment."

I had people send my Australian dollars a few times. I refunded them and sent them an e-mail saying "Please send US dollars or Euros only".

Yep, I agree, had someone from the States send me Euros. Refused payment and asked for GBP(£)