pancakes

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Author Topic: Best payment method, exchange rates and fees  (Read 1748 times)

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« on: March 04, 2014, 10:05 »
0
What with the terrible dollar vs pound rate at the moment I am wondering if I'm getting the best deal when it come to exchange rates.

I think the best way of getting the facts could be to a little community project to study the different rates out there.

I'll start, here's my last cash-out of paypal. US$ to GBP, I am sure lots of people will be interested in US$ to Euro too.

It would be great if everyone who has a minute could report on the rates they are getting through the different payment platforms at specific times and dates, then we can put a graph together. If you can adjust times to GMT that will make it easier to compare.

PAYPAL
4 Mar 2014 09:30 GMT
1 US Dollar = 0.5833 British Pounds
No other fees



Ron

« Reply #1 on: March 04, 2014, 10:11 »
0
The going rate is 0.60 so you are paying 0.017 cent extra per dollar. I have never worried about it. Its not enough for me to worry about, CODB.

« Reply #2 on: March 04, 2014, 10:40 »
0
Agreed, the fees have to be paid, I was just trying to minimize the expense.

The percentage fee works out to about 2.8% I think (0.0167 as a percentage of 0.6).

You could be right, probably any potential saving by switching payment method isn't worth the effort of calculating (although over the year maybe?). I could just be trying to distract myself from the latest news from IS!


 

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