Jezz, but Paypal is expensive lately

Drifter

Honorary Master
Joined
Dec 19, 2012
Messages
22,825
Bought some goods from UK. They charged me R18.40 per pound. :wtf::wtf:
 

geezer

Expert Member
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May 12, 2006
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4,255
Sounds about correct to me. The current excange rate is 1 GBP = 17.82 ZAR
 

VG008

Senior Member
Joined
Dec 9, 2010
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797
Bought some goods from UK. They charged me R18.40 per pound. :wtf::wtf:

Yes, they make money from converting the currency, same like how VISA/MasterCard makes money for the currency conversion.
With paypal, you have an option to let PayPal convert the currency or your bank (MasterCard/VISA).

I'm not sure if South Africa banks pass on this fee to the client.
 

zamicro

Expert Member
Joined
Oct 22, 2007
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3,823
I also realized it. Did 2 transactions the other day, one with paypal conversion and one without. Worked out about the same rate. Paypal used to be a lot cheaper.
 

xrapidx

Honorary Master
Joined
Feb 16, 2007
Messages
40,309
Investec is cheaper than paypal. But - if you get refunded, you get refunded on the current exchange rate, so could go either way. Afaik, if you get refunded with paypal doing the conversion, they use the same rate as the day you purchased.
 
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