Paypal USD/CAD exchange rates are not consistent

[coxengines]

Since this has now happened twice, I realize it is not a coincidence.

Last night at 20:02:33 I transferred $535 from our PP account to our bank account. The rate was 1.14770.

Then at 20:04:18 (less than 2 minutes later), I transferred $275 from another PP account and got a rate of 1.13604.

This all after North American markets had closed for the day. The posted wholesale rate at the time was 1.1652.

The PP rep I spoke with swore up and down that this was not possible but, after looking at the transactions, offered to open a "ticket"

The first time this happened there were 10 minutes between transactions and I believed the rate may have dropped but now I believe this is something else.

Anyone else ever run into this?

Bernie

[ds2286]

Hey Bernie,

I have noticed that before as well. There rates seem to all over the board at any time of day.

I have often wondered if there rates fluctuate in real time with the going rates or if there is some delay. They do seem to fluctuated after hours as well though.

[pierrelebel]

"now I believe this is something else. "

Is the account getting a better rate receiving over $3,000 a month?

If so, you are entitled to a better conversion rate (a smaller spread charged by PayPal for larger accounts). That policy was put in place over a year ago -as a result of the Canadian Seller Profitability Forum (which I attended) in Toronto the previous year.

For more information, please check this http://www2.ebay.com/aw/ca/200805011002562.html

[pierrelebel]

When using the numbers in the original post, one can easily see a conversion with a 1.5% spread and another one with a 2.5% spread.

[surplusdealdude]

Welcome back, Pierre.

I haven't noticed, but then I haven't been paying attention to it. -------------------------------------------------------------------

If there were in the world today any large number of people who desired their own happiness more than they desired the unhappiness of others, we could have paradise in a few years.
- Bertrand Russell

[coxengines]

Yup,

That's what is is Pierre. Thanks for the link. Called PP again this morning and got the same stupid response "the rate must have fluctuated".

The new PP account does not have $3k/month in sales as we have only had it for a couple of weeks.

Now, here is a workaround I tried this PM. Send all the funds via "personal" to the account with the better rate and transfer it from there. There is no fee for sender or receiver.

Ha!

Bernie

[pierrelebel]

"Called PP again this morning and got the same stupid response "the rate must have fluctuated".

Why call PayPal? Do they know their business? Their "customer service reps" and "pinks" have proven time and time again - over the last ten years - they have no idea how their system really works. 😞

Users needing factual answers have a better chance finding them on the discussion boards from other experienced users. 😉

[coxengines]

askpierrelebel.com is way better, I agree 🙂

Bernie

[pjcdn2005]

Why call PayPal? Do they know their business? Their "customer service reps" and "pinks" have proven time and time again - over the last ten years - they have no idea how their system really works. 😞

Users needing factual answers have a better chance finding them on the discussion boards from other experienced users. 😉


I totally agree as well though it is sad that the service reps really don't understand how things work.