Exchange Rate Calculator way out of whack

[lindsey2573]

Just purchased a fairly expensive item from the UK. Ebay's estimate of 295GBP was AU $480.94 & the postage of 25GBP was AU$40.76, so that's roughly $521.70 My final price was $547.32. That's a discrepancy of $25.62! Not to be sneezed at.  And then on my purchase list  it show as having paid $534.27 which is incorrect also.  I know there's nothing can be done, but should I really have to look up the exchange rate myself & how can they be so far out?

[phorum_junkie*]

Ebay update their exchange rate daily, Paypal and the banks adjust it continually throughout the day so ebay's is always going to be approx without the extra fees for currency conversion charged by Paypal and/or the banks.

You have no need to constantly check exchange rates because unless you are doing it in Paypal it is never going to give you the actual cost.

You can go into Paypal and find out how much the transaction will cost you in Au$, if you do it the right way it will show you the total cost including the currency exchange fee.

[digital*ghost]

eBay's estimate doesn't include any conversion fees, since to do so would have to assume how the buyer is going to pay (even if PayPal is used, the buyer can opt to allow their credit card / bank to do the conversion, and their rates generally are not the same).

The quickest way I find to get a more accurate approximation of the final cost is to use google's currency converter and add PayPal's conversion fees to it. (US is 3.5%, and I think everywhere else is 4% )

GBP320 currently converts to AUD $524.26, add 4% ($20.97) and you get $545.23 - much closer to the final total and saves having to log into PayPal to use their conversion tools. 

[*tippy*toes*]

The figure in your purchase history will change each day too depending on what the exchange rates are doing. Even after payment, it will still keep changing. The correct price you paid will be in the PayPal transaction.