About PayPal exchange rate...

[purse_of_the_legionary]

Hey,

I kept an eye on the US/Canada currencies exchange rate (on www.xe.com) these days. Canadian dollar lost almost 3 cent since 3 days, but in PP the exchange rate is not changing at all, it's exactly the same rate it was 3 days ago. Also, I had the feeling PP rate was updated more quickly when the rate was going at my disadvantage. Is there a trick or something (every delay in adjusting would mean thousands of extra dollars in PP's pocket every time they would 'freeze' the rate instead of following the market's)?

Am I paranoid ?

[johayden]

You are not paranoid! I want to change money but they are charging 9% over the mid-rate. Way too high, especially when their representatives claim we are only charged 2.5 - 3.5% over mid-rate.

[purse_of_the_legionary]

Hi there,

And am I paranoid to say that I also noticed that when the Canadian dollar was going up, rate was updating much faster? Rate never changed so fast and so many times in the same week, even in the same day.

Would PayPal take financial advantage on members of this uncommon instability ? I hope not.

[cumos55]

The exchange should be 2.5 % ... Always check with currency converter to verify that the difference is not higher.

Everything was correct this morning...Saturday

Link to Universal Currency Converter at

http://www.xe.com/ucc/

[lina-mallows]

Why is PayPal's position any different than that of an oil company?

While the PRICE OF OIL is fixed, and so are EXCHANGE RATES; PayPal, and the OIL COMPANIES are free to do as they please !!!

It always amazing how many people whine about how they want to be left alone by eBay, and PayPal, to mind their own business, and do as they please. Then, when there is a perceived disadvantage- like PayPal being slow to adjust the exchange rates, it's almost like they are crying out for regulation to make an independent company act as THEY think it should.

Watch PayPal carefully (use the currency converter at the withdraw area), and transfer when you think there is an advantageous opportunity. It's really no different than filling your tank when you think the price of gas is going up, or has dropped to a low point.- except for PayPal you want to catch the high points when transferring.

[bare_bright]

From Last night till this afternoon there was close to a 3 point difference, b4 I transfer to my bank account I always check there exchange rate and if I see a huge difference from xe.com I wait later in the day till the spread is less, today I saved almost 38$ by waiting a few hours

Your right though they grab to much

xe Shows 1 us $ = 127 CAD Paypal = 123 CAD

That's a 4 point Gain

Whats even better is when you sell a item for 1$ today on ebay it shows the Conversion to us in The Proper Rate & Then when you go to exchange it at paypal you Loose 2%

also we are Charged in US when we list & then it's converted, Wonder who makes the extra $ there?

you guessed right 🙂

Like the old saying goes "it's dog it dog out there"

[recped]

also we are Charged in US when we list & then it's converted, Wonder who makes the extra $ there?

Change your billing currency to US Dollars if that's what you normally list in.

[axe_n_gear_music]

Change your billing currency to US dollars if that's what you normally list in.

Just a reminder to those thinking of switching their billing currency from CAD to US dollars- For some sellers, this can be a long drawn out process, particularly for those with good till cancelled store inventory items. You must now end all these listings and then relist them or you will continue to be billed in CAD for those items.

I wonder if it would just be easier to pay your eBay fees directly from your Paypal account each month in USD before your automatic payment comes out. Any help or thoughts on this?

AXE

[axe_n_gear_music]

OK, scratch that idea- eBay will only let you pay in CAD funds via Paypal to pay your eBay fees if you are set up for CAD only. Not sure what I was thinking there, but this does not surprise me. Leave to Feebay. Maybe in the New Year I will make the switch and will cancel & relist all of our store good till cancelled listings- we have too many of them in the .35 cent format anyway.

AXE

[pierrelebel]

"You must now end all these listings and then relist them or you will continue to be billed in CAD for those items. "

?????

There is nothing preventing a seller from asking eBay to immediately switch the billing currency. .

[pierrelebel]

I should add the billing currency has nothing to do with the currency in the listings.

A seller can sell at the same time in US$, Cdn$, £, €, etc... and get billed in either Cdn$ or (preferably) US$.

There is no need to end any listings. .

[axe_n_gear_music]

Thanks for the info Pierre but what about the last line here:

To pay your fees in a different billing currency, go to the Switch Billing Currency page and select the appropriate currency from the drop-down menu.

What will happen
When you change your billing currency, eBay opens a new currency account under your current User ID.

After the change, all fees for new listings will be billed to your new currency account. Additional fees for active listings (for example, if the item is revised, or ends with a winner and is charged a Final Value Fee) are charged to the original currency account. Your old account will be considered "pending" and needs to be kept current or it will become delinquent if it is not paid in full within two billing cycles.

You will receive separate invoices for the two accounts until the old account is paid in full.

If you qualify for a PowerSeller discount, and need to change your Power Seller billing currency, you should change the currency on the first day of the billing cycle to receive the discount in the new currency.

Important: You will need to manually end any eBay Store Good 'Til Cancelled items and relist them in the new currency.

AXE

[pierrelebel]

That last sentence does not make sense. You may want to check with Rodney tomorrow (11am - noon) on his weekly visit to CTS. .

[axe_n_gear_music]

OK, Thanks for the info-(But I don't know who Rodney is or what CTS is LOL)

Also, I found several older threads about this where people had to relist their GTC listings in the new currency, and it took months to fully switch over to US billing.

AXE

[westernstargifts]

I switched over to US billing last year and had to end all of my listings and start them again. At least I am glad I didn't have as many listings at that time but it still took a long time to do.

I found the best way to do it was to end everything scheduled to end within the next 24 hours and then relist them before the next batch was due to end. That way I kept ahead of it but didn't have to do them all at once.

[axe_n_gear_music]

Thanks Pierre- but I dont think 'Rodney' will be able to help me in that other forum anyway- I have some work ahead of me and will wait 'till the New Year when things settle down to revamp everything.

Thanks Westernstargifts- I thought that may be the case. 😞 I want to rework alot of my listings anyway, and remove a bunch of them from the 35 cent GTC and relist them to the 10 cent store GTC style anyway (FVF are a killer with the 35 cent style), so I may just have to bite the bullet on this one and just "get 'er done!"
The other thing that I have to do is all of the listings that I have on my more expensive items with the promo of free subtitles with "Free shipping" will need to be reworked.
Sort of "back to the drawing board" as it were.
Thanks to all for the info.

AXE

[marcopoloca]

Paypal is definitely playing tricks on us 😞

i request some money in australian currency last week and it shows an equivalent of $370 usd, but when i was actually got paid (on the same day), i only got $340 usd (before fee deduction).