Author Topic: Foreign exchange vs PayPal  (Read 593 times)

Offline eliraps

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Foreign exchange vs PayPal
« on: May 10, 2022, 08:37:05 AM »
Making a payment in Israel via PayPal

I'm I better off using PayPal currency exchange, or better pay in NIS and allow my credit card to do the exchange?
And if option b which cards / banks give the best exchange rates?

Online AsherO

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Re: Foreign exchange vs PayPal
« Reply #1 on: May 10, 2022, 08:43:05 AM »
Making a payment in Israel via PayPal

I'm I better off using PayPal currency exchange, or better pay in NIS and allow my credit card to do the exchange?
And if option b which cards / banks give the best exchange rates?

Banks have to give you the official visa/Mastercard (mid-market?) rate, PayPal will rip you off.
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Offline aedo

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Re: Foreign exchange vs PayPal
« Reply #2 on: May 10, 2022, 09:40:35 AM »
AsherO is right, PayPal will rip you off . I always choose “bank conversion” option .

Offline eliraps

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Re: Foreign exchange vs PayPal
« Reply #3 on: May 10, 2022, 11:22:47 AM »
Thank you all
Any specific bank or card?

Offline aedo

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Re: Foreign exchange vs PayPal
« Reply #4 on: May 10, 2022, 11:38:28 AM »
No, conversion rate comes from visa/mastercard. Their rates almost the same.
Just make sure to use a card with “no foreign transaction fee”