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Paypal Exchange Rate
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| djbruuen |
I'd appreciate anyones help on this.
I need to make a payment in US funds through paypal (not through ebay , just to a person - its safe so no need for those followup wiring money comments)
anyways, the paypal exchange rate sucks in comparison to the real exchange rate - since its a sizeable amount of money, i'm wondering if theres anyway I can get around this so I can pay the real (or at least closer to the real) exchange rate when making the transaction. |
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| chinamon |
as long as you're going through paypal then there is no way around it.
depending on the amount, might be cheaper to just get an international money order from the post office and send it with xpresspost. |
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| SniFFleS |
Open a US bank account and transfer funds to it. Then link that to your paypal account.
That may take longer than you want it to though. |
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| DigiNut |
You can get a USD credit card here, doesn't have to be a U.S. bank account. But it sounds like you're looking for a quick fix, in which case no, there really isn't any way around it.
But you won't get the "real" exchange rate from the banks, either. I've never found PayPal's rate to be that much worse than the banks themselves, it's usually about the same.
Posted exchange rates are like Bank of Canada Prime rates or securities trading prices; you almost never get the posted rate, unless you're an insider of some kind. |
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| italarmo |
| I just booked a flight in Euros on Paypal and got raped with the exchange rate... never again. |
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| djbruuen |
| The US bank account actually sounds like a decent idea since I do have several dealing a year in US funds. Any further info on the best means to go about doing this? |
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| chinamon |
| quote: | Originally posted by djbruuen
The US bank account actually sounds like a decent idea since I do have several dealing a year in US funds. Any further info on the best means to go about doing this? |
just go to any major bank and ask for a US Bank Account. i have one with CIBC. |
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| Skipper |
| The posted exchange rate, the ones you see in the paper and on the news, is an intrabank rate for large volumes of cash. |
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| FunkyCrew |
| quote: | Originally posted by djbruuen
The US bank account actually sounds like a decent idea since I do have several dealing a year in US funds. Any further info on the best means to go about doing this? |
yup Jay is right - all banks have a US account option |
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