Just noticed that the exchange rate with PayPal is less then todays actual exchange rate.. Anyone know why???
1 USD is equal to 1 Canadian dollar. PayPal rate is 1 USD is .97 Canadian.???????
It's because of the currency conversion fee. PayPal charges you to convert one currency into another. It's basically their profit in the transaction. In this case, PayPal is charging you 3 cents per dollar.
Edited to add source - look under "Currency Conversion"
[www.paypal.com]
Dylan Lerner
DLerner@informars.com
Mystery Shop Department
Informa Research Services
www.informams.com
Edited 2 time(s). Last edit at 01/31/2013 05:39PM by DLerner.