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Hi looking to buy a new frame from commencal
Would it be better to pay on a natwest credit card or PayPal
Any advice please
The best way, if they'll take a payment into their bank (IBAN number) is to use a peer to peer exchange like currencyfair.com to convert your money into Euros, then transfer it from there to Commencal. It saves about 5%, as the exchange rate is better (midway between the bank buy and sell prices) and if you use currencyfair they charge a minimal commission on the exchange then 3 Euros for the final transfer.
(I have no connection with currencyfair other than being a satisfied customer and having saved several hundred pounds over the last few years on renting holiday apartments)
PayPal is cheaper than my Natwest CC,
rate is better with Natwest, but then they add a fee as a separate transaction
PayPal have huge fees or loaded rate I believe. They're best if you have loaded your account with Euros having been paid by someone in Euros. Thus no exchange. Use your credit or debit card to do the same or pay for something in Euros, they'll use their own high rate.
Just have to shop around with credit cards and compare. Some have no fees but load it on the rate, some fees and low rate. Compare which is good.
Compared to Natwest though, yeah sure PayPal are still probably better, but you're still being ripped off. Try another card 😉
Transfer wise if you can, just saved £100 or do on a £3300 payment in euros.
fwiw i got 1 GBP = 1.35924EUR via PayPal on Friday
Looks like PayPal's rate is 3.5% above the wholesale rate
https://www.paypal.com/uk/webapps/mpp/cross-border-and-conversion-fees (at the bottom)
Note if you are using PP by funding with a credit card you can opt when paying with PayPal to accept PP's exchange rate or be charged in Sterling which will then use your bank's exchange rate. Either way or if funding with PayPal funds, you're accepting PayPal's purchase protection which while is their own promise is not the statutory legal protection under the Consumer Credit Act which you get with credit cards (and sometimes above and beyond).
Completely OT, but [b]sadexpunk[/b], did you get a text read out on Friday's Radcliffe & Maconie show in the last hour?
it wasnt a text mate, it was my attempt at the teatime theme time 🙂
sad int it, but i thought id give my sadexpunk name too cos i know a few of you boys listen and thought itd raise a smile 😀 nearly won the day before, i was announced as winner then someone else gave a more anal answer and pipped me. all good fun 😀
I get a good rate from my Halifax credit card (and no fee) but for the best rates, as suggested above, use a peer to peer currency exchange.
TransferWise was giving 1.41 last night (and it looks like they now guarantee the rate do you don't have to overpay and get a credit back). No payment protection of course but it depends who you're buying from
Another vote for Transferwise. And this 'invite a friend' link gives you a free first transfer up to 3K - https://transferwise.com/u/091ea
(* disclaimer - I stand to get a few quid if a few people use it)