Guys, just tried to exchange some US$ into AUS$ and Paypal is quoting me 93 cents when the rate is around $1.05. Tried calling them but they have "no access to exchange rates" or where they actually get their exchange rates from. I know they have a 2.5% processing fee and I've done these exchanges before with few problems and certainly not at this sort of crazy spread. Anyone with a Paypal account here can tell me if they get the same rate? Surely that can't be right? thanks.
Wrong way around, if you're exchanging USD to AUD the current mid-market rate is ~0.95238095238095238095238095238095. Add a 2.5% fee from paypal and you're looking at 0.95238095238095238095238095238095 * 0.975 = 0.92857142857142857142857142857143
