has epass always had an exchange rate difference - GoFuckYourself.com

nico-t · 04-02-2008, 06:27 PM

... like paypal has? i never looked at it i noticed it a while ago with the echange rate being so shitty and i calculated amounts i cashed in euros against the $ showed in my epass account.
It's about 4 cent to the dollar more than the actual exchange rate, now ?300 is $480
Right now real echange is 1.56 & epass exchange is 1.60
just wondering if it always has been the case

Klen · 04-02-2008, 07:12 PM

Yes it always have different rate then bank.

Yngwie · 04-02-2008, 09:21 PM

I always get at least 3 cents less with epass than I would at a bank. Not sure why there's such a huge gap in the exchange rate.

papill0n · 04-02-2008, 09:29 PM

I thought the exchange rate was set by the bank where you withdraw your funds.

Maybe Michael O will clarify for us....

iMind · 04-02-2008, 10:26 PM

I'm pretty sure there has always been a slight difference.

Dagwolf · 04-02-2008, 10:34 PM

You can't escape it. No matter who you exchange currency with, they always take that bite.

Antonio · 04-02-2008, 10:51 PM

when a bank gives you an exchange rate of say 1:1.60 that means that they sell at 1:63 and buy at 1:58 (just an example), exactly the same thing is happening at the ATMs - the bank whose ATM you are usign is "buying your dollars on the spot" and gives you the currancy you're withdrawing in, it has nothing to do with epassporte (I think)

nico-t · 04-03-2008, 05:13 AM

ah didnt think about the bank

polish_aristocrat · 04-03-2008, 05:16 AM

most ppl use epass to avoid taxes so they dont really care about the exchange rate

Michael O · 04-03-2008, 05:43 AM

Quote:

Originally Posted by nico-t

... like paypal has? i never looked at it i noticed it a while ago with the echange rate being so shitty and i calculated amounts i cashed in euros against the $ showed in my epass account.
It's about 4 cent to the dollar more than the actual exchange rate, now ?300 is $480
Right now real echange is 1.56 & epass exchange is 1.60
just wondering if it always has been the case

We have nothing to do with the exchange rate.
VISA sets the rate, we charge a $2 fee and the ATM owner might charge a fee as well both would be included in the amount deducted from your account.
In the past I have said its our bank that sets the exchange rate but that wasn't correct.

For me personally when I have checked there is less then 1% difference between going into the bank with cash US$ or withdrawing using the ePassporte Electron card.

nico-t · 04-03-2008, 06:18 AM

Quote:

Originally Posted by Michael O

We have nothing to do with the exchange rate.
VISA sets the rate, we charge a $2 fee and the ATM owner might charge a fee as well both would be included in the amount deducted from your account.
In the past I have said its our bank that sets the exchange rate but that wasn't correct.

For me personally when I have checked there is less then 1% difference between going into the bank with cash US$ or withdrawing using the ePassporte Electron card.

thanks for explaining

Nicky · 04-03-2008, 06:33 AM

I have found it being a huge differance if I withdraw $300 or $30 I get a much better exchange rate the more I withdraw, is it the bank that does that?

Michael O · 04-03-2008, 07:20 AM

Quote:

Originally Posted by Nicky

I have found it being a huge differance if I withdraw $300 or $30 I get a much better exchange rate the more I withdraw, is it the bank that does that?

Its because the fee we charge ($2) and any fee the ATM charge is included in the amount deducted from your account.

Oracle Porn · 04-03-2008, 07:23 AM

yes exchange rate is shitty. but its visa.

tranza · 04-03-2008, 07:34 AM

One thing I really don't get is, why do I get charged at a different exchange rate (always worse) from Epass from the one I see on the ATM machines and on my receipt (which is already shitty).

This is the ONLY thing that actually bothers me about Epass.

Michael O · 04-03-2008, 08:04 AM

Quote:

Originally Posted by tranza

One thing I really don't get is, why do I get charged at a different exchange rate (always worse) from Epass from the one I see on the ATM machines and on my receipt (which is already shitty).

This is the ONLY thing that actually bothers me about Epass.

Do you remember to include the $2 and the fee the owner of the ATM charges?

04-02-2008, 06:27 PM	#1
nico-t emperor of my world Join Date: Aug 2004 Location: nethalands Posts: 29,903	has epass always had an exchange rate difference ... like paypal has? i never looked at it i noticed it a while ago with the echange rate being so shitty and i calculated amounts i cashed in euros against the $ showed in my epass account. It's about 4 cent to the dollar more than the actual exchange rate, now ?300 is $480 Right now real echange is 1.56 & epass exchange is 1.60 just wondering if it always has been the case

04-02-2008, 09:21 PM	#3
Yngwie I am an Alien from space Industry Role: Join Date: May 2003 Location: Ontario, Canada Posts: 11,118	I always get at least 3 cents less with epass than I would at a bank. Not sure why there's such a huge gap in the exchange rate. __________________ ICQ: 16544251 - Skype: gator37 @ eastlink.ca - email: yngwie @ isys.ca

04-02-2008, 10:34 PM	#6
Dagwolf President of Canada Join Date: Sep 2003 Location: Leaving Hell, Entering Limbo Posts: 23,141	You can't escape it. No matter who you exchange currency with, they always take that bite. __________________ Sleep well, and dream of large women.

04-03-2008, 05:16 AM	#9
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	most ppl use epass to avoid taxes so they dont really care about the exchange rate __________________ I don't use ICQ anymore.

04-03-2008, 06:33 AM	#12
Nicky Confirmed User Industry Role: Join Date: Mar 2003 Location: Sweden Posts: 30,069	I have found it being a huge differance if I withdraw $300 or $30 I get a much better exchange rate the more I withdraw, is it the bank that does that? __________________ gfynicky @ gmail.com

04-02-2008, 07:12 PM	#2
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	Yes it always have different rate then bank.

04-02-2008, 09:29 PM	#4
papill0n Unregistered Abuser Industry Role: Join Date: Oct 2007 Posts: 15,547	I thought the exchange rate was set by the bank where you withdraw your funds. Maybe Michael O will clarify for us....

04-02-2008, 10:26 PM	#5
iMind Confirmed User Join Date: Nov 2007 Posts: 937	I'm pretty sure there has always been a slight difference.

04-02-2008, 10:51 PM	#7
Antonio Too lazy to set a custom title Join Date: Oct 2001 Location: Spartaaaaaaaaa Posts: 14,136	when a bank gives you an exchange rate of say 1:1.60 that means that they sell at 1:63 and buy at 1:58 (just an example), exactly the same thing is happening at the ATMs - the bank whose ATM you are usign is "buying your dollars on the spot" and gives you the currancy you're withdrawing in, it has nothing to do with epassporte (I think)

04-03-2008, 05:13 AM	#8
nico-t emperor of my world Join Date: Aug 2004 Location: nethalands Posts: 29,903	ah didnt think about the bank

04-03-2008, 07:23 AM	#14
Oracle Porn Affiliate Industry Role: Join Date: Oct 2002 Location: Icq: 94-399-723 Posts: 24,433	yes exchange rate is shitty. but its visa. __________________

04-03-2008, 07:34 AM	#15
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	One thing I really don't get is, why do I get charged at a different exchange rate (always worse) from Epass from the one I see on the ATM machines and on my receipt (which is already shitty). This is the ONLY thing that actually bothers me about Epass. __________________ I'm just a newbie.