Reply to "PayPal, what's it good for?"

gallinagomediaMember

PayPal's exchange rates may be worse than what is available at banks and tourist shops, but so far every time I've asked a seller who lists their prices in a foreign currency (mainly Euros & British pounds) to quote me the cost in US dollars, it's always been cheaper to pay them in their home currency, and let PayPal do the conversion.

Also, to keep the comparison fair, remember that some credit card companies charge a surcharge for any conversion to/from dollars. My CitiBank card used to have this surcharge (maybe it still does, but I don't use them anymore), one of my other cards from a smaller single-state bank has no surcharge (and used the same rate as CitiBank 2 years ago when I was travelling in Europe).

So keep all of the above in mind when you're trying to figure out which is the best method to pay someone in another country.

Personally, I prefer beads!

9/7/032:03 AM

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