Paypal Currency Exchange WTF ??
 

If i transfer $1 CA to $US i get $0.97 But if i transfer $1us i get $0.96 CA WTF ? am i missing something here ??

Paypal currency exchange always comes with an exchange fee of 2% or if it was 2.5%. Plus they also set their own currency exchange rate, so they follow the avista rates, but with their own modifications. Usually their rate is one or two cents off from the current avista rate, and that's why you are seeing those numbers.

Add to that their currency exchange fee and multiply that with the amount of transactions they do. Then you see why they are such a profitable company and why Ebay gladly bought them a few years ago.

Thats how they make money!

Simple...

Thanks for the heads up, :thumbsup dind't know they were charging % fee on this also...

just made a $ to € payment today, they charged me $16.40 to convert $788 so a 2% fee is about right

Paypal User agreement, chapter 8, Fees:
https://cms.paypal.com/us/cgi-bin/?c...full#8.%20Fees.

I quote from there:

exchange fee, crossborder fee, pp fee... it adds up :)

2.5% + 3.9% fee + usual bid/ask spread = you get fucked hard on any currency exchange deals...