Is the foreign currency conversion rate for buying really that bad? I just got charged 5%.
Summary: mas6666 expressed concern about being charged a 5% fee for foreign currency conversion when making a purchase and questioned if this rate is typical. davewil1964 did not provide further details or responses on the issue.
In aus, just bought something from the us. The stated currency conversion rate was pretty low, but i didn't know it was THAT bad.. it turned out to be 5% of my transaction.
You can prove this very easily.. ebay took as payment 157$, but when i opened up the invoice, the amount was $150 (left out the cents). So they just took extra money because they could and to rub it in are even accounting for the amount without their conversion fee.
It doesn't feel good. Well, i guess luckily i don't buy items from overseas that often. Yuk.
davewil1964
·1 year agoeBay's conversion rate is roughly what banks charge and is calculated at the time of the transaction.