XE exchange rates

[rd1000]

HI,

I promised in a previous thread I would post the results of my next trade using the XE.com money exchange service. I had to make a payment through Paypal for an auction of $558.99 US, so I decided to do this and also exchange the same amount to see what happens.

I set up 3 windows: one for the paypal payment, one for the currency exchange, and one with the xe currency calculator. When everything was ready, I clicked each button one after the other.


Here is the results:

XE Calculator $558.99 US converted to $663.06 Cdn for an exchange rate of $0.8289561

XE Money Exchange $558.99 US deposited $674.33 Cdn at a rate of .84304344

Paypal $558.99 US payment and they charged $692.06 Cdn at the rate of .807720

I was surprised by the money exchange yielding more than the calculator. I thought the calculator would give a better rate. I don't think it is because of outdated rates because the money exchange rates refresh every 60 seconds. Whatever the reason, I am happy I am no longer subject to Paypal's rates for withdrawing money. I will have a US credit card shortly and they won't be getting the exchange for payments any more either.

Rob

[rd1000]

oops sorry folks. I did mix up the calculator with money exchange. THat makes more sense. THe calculator gave $674.33 and the money exchange $663.06.

Now that I have everyone totally confused... X-)

So Paypal is .807720
XE currency exchange 0.8289561
XE Calculator of .84304344

Rob

[sunward-hobbies]

Paypal always charges about.02 more than the bank rate. So .82, about 1.23, sounds right.

Try paying with USD in you account. Or use a paypal debit card as it charges in USD.

[rd1000]

I only use a credit card to pay for auctions. I need the protection against fraud.

[josephine]

Can you summarize how much you saved from using XE instead of Paypal for that $558.99 US? ie. the CDN conversions of that amount? Your numbers don't seem to look right.