low conversion rates

Philippines
October 26, 2010 6:50pm CST
I hate it somehow, that paypal have low conversion rates... when i check the foreign exchange in the news, that of paypal don't match... why is that so?
2 responses
• Australia
1 Nov 10
Yes,I've also noticed this problem.Its so annoying that I would end up paying more for an item just because the conversion rate is lower than it is normally. Dose'nt paypal make enough with all those paypal fees anyway? I'm also annoyed that paypal doesn't clearly state how much they will charge for transactions conducted through their site.For example, for a purchase of $50 how much more would you have to pay in terms of paypal fees?
@TeamCholent (2832)
• United States
27 Oct 10
The exchange rates you are viewing are exact rates and change every minute. PayPal and every foreign exchange company for that matter charge a slightly "worse" rate to help them make a profit and cover their loss in case the exchange rate changes a lot.