Paypal's currency exchange rip-off - GoFuckYourself.com

SilentKnight · 05-11-2006, 01:09 PM

As of 12 noon (May 11, 2006) the current exchange rate (quoted from the Federal Reserve Bank of New York) for U.S. to Canadian currency is:

1 U.S. Dollar = 1.0989 Canadian Dollars

As of 12 noon (May 11, 2006) the current exchange rate available on Paypal for U.S. to Canadian currency is:

1 U.S. Dollar = 1.07250 Canadian Dollars

A difference of 2.6 cents on every dollar.

woj · 05-11-2006, 01:49 PM

hardly suprising...

Barefootsies · 05-11-2006, 01:50 PM

Vox · 05-11-2006, 01:54 PM

Quote:

Originally Posted by SilentKnight

As of 12 noon (May 11, 2006) the current exchange rate (quoted from the Federal Reserve Bank of New York) for U.S. to Canadian currency is:

1 U.S. Dollar = 1.0989 Canadian Dollars

As of 12 noon (May 11, 2006) the current exchange rate available on Paypal for U.S. to Canadian currency is:

1 U.S. Dollar = 1.07250 Canadian Dollars

A difference of 2.6 cents on every dollar.

My bank charged me the same rate yesterday of 1.07

For amounts under 10k you usually get shafted by 2 points.

madawgz · 05-11-2006, 01:57 PM

paypal always take a huge cut in everything

Yngwie · 05-11-2006, 02:01 PM

banks take the same or more so either way we get fucked. They don't "buy" your US money at the actually exchange rate. They "buy" it at a cheaper price so they can sell it for more and make a profit.

Doctor Dre · 05-11-2006, 02:02 PM

Old news bud ... look in their tos, they keep a margin of like 2.5 %

SilentKnight · 05-11-2006, 02:14 PM

Quote:

Originally Posted by Doctor Dre

Old news bud ... look in their tos, they keep a margin of like 2.5 %

True...I knew it was nothing new. But I haven't checked their tos for ages, and usually assumed they were closer to the nightly news exchange rates than what they actually are.

These days with the exchange sucking out so bad - we're just taking a second look at all the places we're being shaved. Seeing where we can recoup some of those losses.

05-11-2006, 01:09 PM	#1
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	Paypal's currency exchange rip-off As of 12 noon (May 11, 2006) the current exchange rate (quoted from the Federal Reserve Bank of New York) for U.S. to Canadian currency is: 1 U.S. Dollar = 1.0989 Canadian Dollars As of 12 noon (May 11, 2006) the current exchange rate available on Paypal for U.S. to Canadian currency is: 1 U.S. Dollar = 1.07250 Canadian Dollars A difference of 2.6 cents on every dollar.

05-11-2006, 01:49 PM	#2
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	hardly suprising... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

05-11-2006, 01:50 PM	#3
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	__________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

05-11-2006, 01:57 PM	#5
madawgz 8.8.8.8 Industry Role: Join Date: Mar 2006 Location: Noordermarkt Posts: 30,509	paypal always take a huge cut in everything __________________ TAEMDLRMSKRJIXMRLSMRJ.

05-11-2006, 02:01 PM	#6
Yngwie I am an Alien from space Industry Role: Join Date: May 2003 Location: Ontario, Canada Posts: 11,118	banks take the same or more so either way we get fucked. They don't "buy" your US money at the actually exchange rate. They "buy" it at a cheaper price so they can sell it for more and make a profit. __________________ ICQ: 16544251 - Skype: gator37 @ eastlink.ca - email: yngwie @ isys.ca