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International rate
Hello, my bank says the forex/exchange rate used in charging my account after purchasing an item is set by eBay and not the one set by my bank for international transactions. Pls is this true and if it is, how do I determine or find out how much in local currency equivalence would be charged to my account prior to purchasing an item on eBay. Thank you.
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woodland_gnome
·2 years agoYou are usually given an option to bill your funding source in the currency of the listing or in your local currency (with the default set to the latter since eBay makes profits from that one; on the checkout screen I'm looking at now the link says "Change currency" under the selected payment source). If you are paying with PayPal you would also need to make a similar selection there.
eBay's "buy rates" (actually the rate of Adyen, ebay.com's payments contractor) are generally about 4% over the "mid-market rate" you would find on a financial website for the currency pair (and which eBay uses to calculate the "approximate" conversion to the local currency of the site (e.g. US$ on ebay.com) on the buying pages, instead of the actual rate they would be charging you (you can speculate on why they do that).