PayPal “Other Conversion Options” not working

[adela_b]

Hi, in the last few days every time I need to pay in different currency (USD, GBP) when I try to choose “Other Conversion Options” I get a message that my session has timed out (which is has not as I can pay if I do not try to use the “Other Conversion Options” link. I contacted PayPal and got a snotty lecture how PayPal exchange rates were far better than the rates any bank can offer me and not a word on my actual question – why the link does not work. Anyone experiencing that? I’m going to annoy the hell out of them until I get a straight answer but any ideas in the meantime? TIA.  

[pjcdn2005]

I've never noticed the 'other conversion option' When do you use it?

Whenever I've paid for something that is listed in a different currency than what is in my Paypal account, Paypal automatically converts the money. I think that it has been a while since I have run into that situation but I'm fairly sure that's how it worked.

[adela_b]

My bad, just paid couple of items in USD and forgot to take a screen shot. When you choose how to fund the payment – bank account or credit card just under it there is a link “Other Conversion Options” and it used to work perfectly well until probably a week ago. Using that link it billed the credit card on file in USD for example and the credit card did the conversion according to their rates (which BTW were better than PP’s).  Now you have no option but to agree to whatever conversion PP does.

[pjcdn2005]

Oh ok....I didn't realize that was ever an option. I usually have U.S $ in my Paypal account and pay for ebay purchases with my Paypal balance.

[pierrelebel]

"the credit card did the conversion according to their rates (which BTW were better than PP’s)."

???

Which credit card do you use?

With very few exceptions, Canadian credit card issuers charge a flat 2.5% conversion fee when converting US$ transactions into Cdn$ debit to a credit card account. Have you checked how much your credit card issuer is charging you?

PayPal charges exactly the same 2.5% conversion fee.

http://www.fcac-acfc.gc.ca/eng/resources/publications/paymentoptions/ccfees/ccfees-4-eng.asp 

[adela_b]

Actually I did, that is why I’m making so much noise. I did compare the conversion rate at every transaction and it was better when I did not use PP. I just got off the phone and they confirmed that the fee for currency exchange on the card I use is 2%. PP rep tried to convince me that it is 3%.

It is my choice. eBay Australia was forced by court to start accepting alternative forms of payment – I believe MoneyTree and here they take away any decision you can possibly make.

[pierrelebel]

"I just got off the phone and they confirmed that the fee for currency exchange on the card I use is 2%"

You should let other posters know which card you use charging you only 2%.  Most Canadians pay their credit card issuer 2.5% conversion fee (same as PayPal)

You could help other Canadian eBay users save money.  That is a good thing!

PayPal:

https://www.paypal.com/us/webapps/helpcenter/article/?solutionId=12900&m=SRE 

"add 2.5%"

[tobyshitzu]

anyone who was signing up for a new cc for fx savings would only consider chase who has ZERO exchange premium.  No brainer for anyone doing a  lot of foreign spending.  Choice of amzn or sears points, thought not very generous with sign up bonuses

[adela_b]

It is not that much about the difference in the rate. Call it a character flaw but when someone just tells me how they have done all the thinking and they will tell me what to do and how to think that gets me to do only one thing – dig in my hoofs and refuse any further cooperation. If the link is there it must work. If PayPal demands that all their customers use their exchange rates they must come out and declare it, not to hide behind “broken links” and “timeout sessions”. I decided to open an account in US funds and transfer some into PayPal.

The card has some special “rates” as we are mostly not in Canada and it is some upgrade on a Travel card. Believe me, with the amount of other currency we charge through that card they more than make it for the meager discount we get.  

BTW some Master Cards do have only 1% fee on exchange. I’m not sure which particular type but the reprehensive slipped and told me that while trying to convince that no one else can offer me a better rate than PayPal.

[lady.stark]

I just had the same exact problem yesterday and it is VERY frustrating!! I want to give the 2.5% to my credit card issuer (which the one lending me money after all) and NOT to PayPal! Plus, my Visa card has a 1.8 conversion fee (but that will change soon). That is SOOOOO frustrating!! X-(

[jsilver_ca]

http://www.greedyrates.ca/blog/travel-tip-avoid-foreign-transaction-fees-canadian-credit-card/#.VtYq...

I use the amazon.ca VIsa card which converts currency at the exchange rate set by Visa International, without additional surcharges.  Plus there is no annual fee and you earn points when you purchase on Amazon.  

You can get the current Visa rate here: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html

To get PayPay's rate, go to https://www.paypal.com/ca/cgi-bin/customerprofileweb?cmd=_profile-currencies (you have to logged into your account).

I did some checking to compare the conversion rate charged by PayPal vs. VISA, using the rates on Feb 29 2016. VISA is converting USD to CAD at 0.733352 and PayPal is converting at 0.720321. For a $1000 purchase, you'll pay 1,363.60 with a non-fee VISA card and 1,388.27 with PayPal, so 24.67 higher on PayPal.

I, too, am not seeing the "Other Conversion Options" link when I purchase from a US seller with PayPal.