Viewing 16 posts - 1 through 16 (of 16 total)
  • Bestest way to buy from eurozone?
  • Premier Icon wrecker
    Free Member

    Paypal are very cagey with the exchange rate but do state that they take a %.
    My building society don’t seem to have a clue, although I suspect that it’ll be pricey as they use HSBC as an intermediary.
    Anyone have any ideas on if it’s possible to avoid the fees and get the current exchange rate please?

    Premier Icon nickjb
    Free Member

    I’ve always used PayPal. Rate has been ok and fees are no worse that their usual and it’s easy. The one time I had to use a bank the fees were far worse.

    Premier Icon Saccades
    Free Member

    Just pay direct with CC.

    Premier Icon Gotama
    Free Member

    Credit card will probably be in the region of 3% away from the spot rate. You could get it tighter (poss 1%) but your best bet for doing that is to use an FX house, someone like World First who are reputable. Whoever you choose you’ll need someone that can make third party payments. Unless you’re buying a very expensive bike/frame it’s probably not worth the faff of setting it up.

    Premier Icon sweaman2
    Free Member

    Depends on the amount… for big amounts (5 figure type amounts) an FX House will be a much better option but as per Gotama it is a phaff.

    Premier Icon wrecker
    Free Member

    Hmm. It is a fair amount. 3% = over £100.

    Premier Icon wrecker
    Free Member

    I’ve always used PayPal. Rate has been ok and fees are no worse that their usual and it’s easy. The one time I had to use a bank the fees were far worse.

    How would one go about finding what the fees are because for the life of me, I can’t!

    Premier Icon binners
    Full Member

    If the goods you’re buying are from Europe, you get someone to deliver them personally. If you can arrange transport, they’ll actually pay you……

    Premier Icon Gotama
    Free Member

    Hmm. It is a fair amount. 3% = over £100.

    Yes, but you’ll still pay c.1% through an FX house.

    Paypal use a ‘retail rate’ and unclear what that is. They’re operating in a murky world as they’re verging on being classified as a bank given the amount of customer deposits they hold. I suspect their rate is similar to what you would receive from a bank whilst they will be trading at close to spot so they make a nice turn. Gift a euro to a mate and see what rate they give you? Post the time and date you do so on here and i’ll give you spot at that point if you want.

    Besides, what happened to your £2k budget?!

    Premier Icon steveh
    Full Member

    a foreign exchange house for me, I used TORFX. Call them and tell them what you need, transfer them sterling to right level and they then pay your designated accont

    Premier Icon nickjb
    Free Member

    Paypal fees here:
    https://www.paypal.com/uk/webapps/mpp/cross-border-and-conversion-fees

    Ok if you don’t then use a card to pay your PayPal.

    There will still be the standard PayPal fees but the sellers pays those.

    Premier Icon wrecker
    Free Member

    Besides, what happened to your £2k budget?!

    Yeah……about that……things changed.
    Sod it I’ll just use the CC, I want the protection anyway.

    Premier Icon Gotama
    Free Member

    Nick – you’re mixing cross border with FX. Lower down the page you linked it says 3.5% on top of interbank for Euro which is the expected spread and similar to credit card and banks. Strange how they refer to it as retail rate in other areas of the site.

    Premier Icon wrecker
    Free Member

    Anyone know what the score is buying via paypal with a credit card?
    Because is involves currency exchanges, I’m a bit lost and the CC company doesn’t seem to know either.
    I understand that I’ll be subject to the shit PP exchange rate and fee, but will it count as a cash withdrawal on the CC? As the exchange would be done by PP, the CC transaction would be in £ I think so I wouldn’t be charged an exchange fee by the CC provider.

    Premier Icon Junkyard
    Free Member

    Paypal will bill in £ so you SHOULD pay their rate only

    Does not count as cash when i use the CC for Paypal

    Ps you are looking nice today 😉

    Premier Icon wrecker
    Free Member

    YOU SEXIST PIGDOG HOW DARE YOU etc etc

    Thanks for the info, very useful.

Viewing 16 posts - 1 through 16 (of 16 total)

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