Conversion rate sexpert lip lai~

[Otokiru]

Transaction done on PayPal:
- Same day, 27 Nov
- from different overseas merchant website
- both paying in USD
- both transaction PayPal convert to SGD
- VISA Debit Card linked to PayPal

The invoice from PayPal:

DBS Transaction List:

Any sexpert can sexplain why? I call up DBS, they tell me complicated VISA csb charges... I feel that I'm being scammed by these companies leh...

 

[Kiwi8]

Hmmm... by right if u have already used PayPal's conversion charges and already paid in SGD, u shouldn't already have to go through currency conversions already.

But recently I have read in the news that sometimes even if we paid by SGD, if the website is foreign, there will still be currency conversions from SGD to USD and back to SGD. I dunno why they do this too.

 

[Otokiru]

Hmmm... by right if u have already used PayPal's conversion charges and already paid in SGD, u shouldn't already have to go through currency conversions already.

But recently I have read in the news that sometimes even if we paid by SGD, if the website is foreign, there will still be currency conversions from SGD to USD and back to SGD. I dunno why they do this too.

Ya lor thats why... Out of 100 PayPal txn i made, sure got a few not tally from the invoice lor... I feel there's a discrepancy somewhere...

 

[Otokiru]

tips for whoever read my thread:
dont pay directly using debit/credit card that is linked to your paypal account...
topup yr paypal account first, then pay using the paypal balance...
cheers~

 

[Gixxerfied]

Hmmm... by right if u have already used PayPal's conversion charges and already paid in SGD, u shouldn't already have to go through currency conversions already.

But recently I have read in the news that sometimes even if we paid by SGD, if the website is foreign, there will still be currency conversions from SGD to USD and back to SGD. I dunno why they do this too.

It's actually something call CCY fees(At least from OCBC)..

OCBC just started it in Oct or Sept..0.8%..Basically for transaction make from a foreign site from SG even if the website bills you in SGD..

http://forums.hardwarezone.com.sg/c...-dynamic-currency-conversion-fee-5126661.html

 

[Kinetic88]

there ish always a "hidden cost" when using CC to pay oversea purchases.

banks ish making money from the transaction.

 

[Kiwi8]

tips for whoever read my thread:
dont pay directly using debit/credit card that is linked to your paypal account...
topup yr paypal account first, then pay using the paypal balance...
cheers~

No lah... if want to pay by the debit/credit card, just bill directly in the foreign currency lor, and let the card bank convert just one-time back to SGD.

 

[Otokiru]

No lah... if want to pay by the debit/credit card, just bill directly in the foreign currency lor, and let the card bank convert just one-time back to SGD.

can oso, but sometimes, i dont trust the site to store my cc/db no.... so thats why i use paypal instead~

 

[Kiwi8]

can oso, but sometimes, i dont trust the site to store my cc/db no.... so thats why i use paypal instead~

PayPal can also pay in foreign currency to bypass PayPal's conversion rate.

 

[TitanSmall]

It's actually something call CCY fees(At least from OCBC)..

OCBC just started it in Oct or Sept..0.8%..Basically for transaction make from a foreign site from SG even if the website bills you in SGD..

http://forums.hardwarezone.com.sg/c...-dynamic-currency-conversion-fee-5126661.html

up for this. this is most likely the case.
even if u bill in sgd, the transaction office is oversea based, there is additional charges.

rule for shopping online.
always use the native currency u are buying from. use visa/master conversion rate.

 

[Otokiru]

PayPal can also pay in foreign currency to bypass PayPal's conversion rate.

but isnt that the root of the problem?
cuz the problem is,

Merchant -> VISA -> You

the dbs cso say diff merchant, got diff txn code and can result in that hidden charges... so i rather let paypal be my merchant to avoid this visa scam

 

[Kiwi8]

but isnt that the root of the problem?
cuz the problem is,

Merchant -> VISA -> You

the dbs cso say diff merchant, got diff txn code and can result in that hidden charges... so i rather let paypal be my merchant to avoid this visa scam

Yes but with the new changes, u can't avoid the hidden charges already.

The new problem is:
Merchant -> PayPal -> VISA -> You.

 

[Otokiru]

Yes but with the new changes, u can't avoid the hidden charges already.

The new problem is:
Merchant -> PayPal -> VISA -> You.

no that one im currently using, im going to change to this method:

PayPal -> VISA -> You
Merchant -> PayPal

Its not a single transaction, but i rather let paypal be the fixed merchant