Misleading Currency Conversion!

[itzenterprises]

Am I the only one frustrated by eBay's misleading currency conversion?

Most of the time its not a lot of money but as I purchase more expensive items from overseas it becomes a bigger concern, particularly in USD.

Considering eBay owns Paypal there should be a lot better fluency,

Ill give you an example below;

One item i ordered was listed

US $131.96
AU $127.77

+ US $39.99
   AU $38.72

   postage

So thats $171.95 USD
and $166.49 AUD according to eBay.

As for the Paypal transaction
$171.95 US turns into $172.15 AUD

Now forgetting what the actual exchange rate is at the moment and how little amount that example shows, it feels misleading, you go off eBays conversion only to find your paying more by Paypal, even when Paypal is owned by eBay.  It should be more universal, fluid.

Im about to buy a much more expensive item of eBay from the US, but all im concerned about is how much more Paypal is actually going to charge me! 

Anyone else share this concern?

[putney32]

As far as i know all sellers have to have a Paypal account  - so ebay isnt forcing people to use it but not far from it. If Paypal is the preferred payment method i think the listing should state:

errrr NO all sellers do not have to have a paypal account. Aussie sellers must have PayPal or PayMate or offer C/card facilities

USA sellers must offer an ON LINE payment method

German Sellers can insist on bank transfer,

all eBay sites have different payment methods, NONE of which has paypal COMPULSORY.

[phorum_junkie*]

Ebay is not a bank or a payment facility, they look at the exchange rate for the day and lock that in.

Paypal constantly monitor and change the exchange rate several times a day as do the banks.

I am sure ebay could employ people to check and change the exchange rate, in hundreds of different currencies, several times a day but do you really want to pay a lot more for your items when they have to up seller's fees to pay for it all?

I use Paypal to transfer money between my UK and Au banks as it costs me less in fees plus I get a better exchange rate than if I do a CHAPS transfer!

[paddygee_123]

I just bought  a  guitar. Paypal's  exchange rate  was  $49 (aud)   dearer  than XE  world  currency  exchange. On top of  a   hike in sellers  fees ( $92   to sell a  guitar ).  I dont think   i'll be selling   anymore.

[***super_nova***]

I just bought  a  guitar. Paypal's  exchange rate  was  $49 (aud)   dearer  than XE  world  currency  exchange. On top of  a   hike in sellers  fees ( $92   to sell a  guitar ).  I dont think   i'll be selling   anymore.

when you find  cheaper way to sell internationally, please let us know 🙂

[dylan11235813]

Ebay is not a bank or a payment facility, they look at the exchange rate for the day and lock that in.

Paypal constantly monitor and change the exchange rate several times a day as do the banks.

I am sure ebay could employ people to check and change the exchange rate, in hundreds of different currencies, several times a day but do you really want to pay a lot more for your items when they have to up seller's fees to pay for it all?

I use Paypal to transfer money between my UK and Au banks as it costs me less in fees plus I get a better exchange rate than if I do a CHAPS transfer!

I think it is misleading. IMO they should be factoring in the paypal conversion cost as well, they are basically the same entity.

[phorum_junkie*]

How can ebay factor in the charges for using Paypal? When you go to pay unless you are paying with existing funds you have the option to let Paypal or your bank do the exchange, how do you think ebay are meant to know which option you will choose or what your bank's rates or charges are?

Ebay clearly say it is an approximation and it is usually pretty near the exe mid rate.

Ebay and Paypal may be owned by the same parent company but they operate totally independently and Paypal run in the same way, with exactly the same fees and exchange rate policies as they did when they were not owned by ebay.

[dylan11235813]

How can ebay factor in the charges for using Paypal? When you go to pay unless you are paying with existing funds you have the option to let Paypal or your bank do the exchange, how do you think ebay are meant to know which option you will choose or what your bank's rates or charges are?

Ebay clearly say it is an approximation and it is usually pretty near the exe mid rate.

Ebay and Paypal may be owned by the same parent company but they operate totally independently and Paypal run in the same way, with exactly the same fees and exchange rate policies as they did when they were not owned by ebay.

At most they would be over estimating the cost rather then under estimating it (whats the problem) Like you say it's the mid range or whatever. I don't think they clearly show that there is the extra exchange rate.  I totally disagree that they operate totally independently (I may be wronge though) and i find it rather amusing that you think they do.

JMO I find it misleading.

[lyndal1838]

Dylan, I find it amusing that you do not think that ebay and paypal operate independently.

I have been using paypal since before it was even called paypal and it was certainly not owned by ebay.  I was not even an ebay member back then.

The only thing that has changed since those days is the buyer protection for ebay buyers.

I still use paypal for a lot of other transactions totally unrelated to ebay....it is used extensively by family members in Canada and the USA to transfer funds and they all have access to plenty of other methods of transferring funds, but we all find paypal is the cheapest and quickest.

[dylan11235813]

Dylan, I find it amusing that you do not think that ebay and paypal operate independently.

I have been using paypal since before it was even called paypal and it was certainly not owned by ebay.  I was not even an ebay member back then.

The only thing that has changed since those days is the buyer protection for ebay buyers.

I still use paypal for a lot of other transactions totally unrelated to ebay....it is used extensively by family members in Canada and the USA to transfer funds and they all have access to plenty of other methods of transferring funds, but we all find paypal is the cheapest and quickest.

What was it called before paypal? You surely can not sit there typing telling me that information is not passed between ebay and paypal on a higher scale than just the transfer of money. That is why I find it funny, you are rather quick at taking a jab at me, which seems strange also.

I only have a problem with companies acting illegally and/or unethical (immoral)

[drz250k]

If they can't get the conversion rate right in the listing then they shouldn't include it. The correct conversion rate will show in Paypal when you go to pay for it or if you are enquiring on the rate.

Ebay/PayPal take great joy in making things as difficult and as frustrating as they possibly can, you only have to look at the continual repeat posts for the same problems which pop up here on a regular basis.