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Paypal FX conversion rate, yay or nay?

4 people gossiping

I couldn’t find any concrete information on the web, especially in the Singapore context, so I decided to do my own research instead. And the answer is? It depends on which credit card you are using.

My total amount payable was US$311.04.

Paypal’s conversion
Credit/Debit Card : MasterCard XXXX-XXXX-XXXX-5230 $448.50 SGD
PayPal Conversion Rate as of Aug. 20, 2008: 1 Singapore Dollar = 0.688701 U.S. Dollars

Citibank
According to prevailing exchange rate, indicative exchange rate at $1 USD = $1.427 SGD or $1 SGD = $0.701 USD; $443.85 SGD.

UOB
Mastercard
Bank charge 1.5% + 0.8% on top of prevailing Visa exchange rate. Assuming the bank charges are not compounded (cos I forgot to ask):

Currencies fluctuate every day. The rate shown is effective for
transactions submitted to Visa on August 20, 2008, with a bank foreign transaction fee of 2.30%.
1 Singapore Dollar = 0.69 US Dollars

Total: $461.16 SGD

Visa
Bank charge 1.5% on top of prevailing Visa exchange rate.

Currencies fluctuate every day. The rate shown is effective for
transactions submitted to Visa on August 20, 2008, with a bank foreign transaction fee of 1.50%.
1 Singapore Dollar = 0.70 US Dollars

Total: $451.01 SGD

I’m going to pay with my Citibank credit card!

August 20th, 2008 at 9:50 pm

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  1. thanks for the info, i almost hit the submit button and let paypal convert to SGD for me.

    after reading your post, i clicked on the conversion option and let citibank do the conversion to save a few dollars :p

    btw, any idea where can i check out the currency exchange rate for citibank?

    kwchan

    2 Sep 08 at 1219hrs

  2. Hi kwchan, you can check Citi’s FX rates via internet banking if you have their credit card or you can call their 24-Hour Corporate CitiPhone Banking at 62388833 to inquire about the rates. ;) Glad to be of help!

    keymistress

    2 Sep 08 at 2155hrs

  3. [...] això mateix he trobat buscant “paypal conversion options” al Google. I així mateix ho cito perquè els [...]

    nunca nueve » tipus de canvi de paypal

    24 Nov 08 at 0026hrs

  4. thanks for the much needed info!!

    i went with my card rates and saved 20$ (:

    ebayerinsingapore!

    12 Jan 09 at 2114hrs

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