punch does that include the fee for overseas buying?

Yep 🙂

I did a little research on it earlier this year. I noted the paypal conversion rate and then paid with my credit card. 4 or 5 transactions and I think I saved about $30 all up.

I did the same test a few years ago when the dollar was low and had the same result, although I only saved a few cents then on a lower value transaction.

I'd love to know which bank, I have tried it with ANZ and Suncorp as well as 2 UK bank accounts and it cost more. The only way I can get close to the same value as Paypal is to use one of my UK credit cards that does not have any charges for using it overseas.

I actually use Paypal to transfer money between my UK and Au bank accounts as it is cheaper than a CHAPS transfer.

ANZ Visa.

I nearly started a thread about it at the time, and I wish I had now because it has been brought up a few times.

I wrote down the amount paypal were going to charge me, then paid by visa and compared the amounts. In every case, the visa was cheaper. It showed on the statement as 2 separate charges, the sale amount and the conversion fee. But added together, the credit card was still cheaper.

Next time I buy from the US, I will do the same checks and post the results.

Who knows, maybe it was just luck and the dollar fluctuated upwards the day the visa processed the charge, maybe when others have done it, its fluctuated down. But so far, I have 100% success at saving money using visa over paypal.

Well I'm with PJ here inasmuch as Paypal has always been marginally less expensive than my banks' exchange rates (I'm with CBA & Suncorp & have tried both).

Sure, the actual exchange rate might be better with the banks, but they then add 2.5% as their commission to the total and this generally brings the final amount to slightly in excess of what Paypal was charging at the same time.

This very subject was discussed some months ago when it was shown that it was best to allow Paypal to perform the exchange and I can assure you that nothing has changed since then.

You can add Westpac and St George to that list too.
I have always found them to be more expensive than paypal. In my experience there is only a very marginal difference in the exchange rates, but the banks charge slightly higher fees, and for the most part now charge a Cross Border Transaction Fee as well.

I think what a lot of people do not allow for is the fact that paypal builds their fees into the exchange rate, which at first glance makes it look like a very poor exchange rate. They do not take into account the extra fees added by the banks.

And if anyone is thinking of using any of the GE Money cards attached to paypal....think again. They add a Foreigh Transaction fee to EVERY paypal transaction, even if it is just a local payment...because paypal is a foreign company.

when buying with Visa and paypal I got stung twice.(not any more though) - paypal convert to the other currency(add 3%) and then nab Visa charge international transfer fee of another 3%.

paypal with westpac mastercard and it is only 3% paypal currency conversion and no bank charges at all.:^O

I have tried with ANZ Visa and it was the nearest but still slightly more than Paypal, only a few cents but they would add up over time. I think I will continue to let Paypal do the conversion.

Add to the Paypal fees my credit card (Woolworths Qantas Card) which since January 2012 has begun charging me Overseas Transaction Fees amounting to additional 3%. Strange that it only started happening since Jnauary 01, 2012. Prior years there was not one Overseas Transaction Fee applied. Now on top of the Paypal feee I have to factor in another 3%. So regardless of what POP states, buyers are slugged by PP and now Woolies. Certainly don't Love My Woolies! Woolies even stung me on an AU$ dollar transaction from a GB seller. PP took no fees, but Woolies took their 3%!

That would be the cross border transaction fee...it sounds like the credit provider is charging it on ALL paypal transactions simply because paypal is an overseas company.

This is what I warned about above with the GE Money cards.