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.