Forum

Conversion rate overcharge
 

Okay so I bought something off aliexpress..paid using paypal..it was $9..I didn't realise as it said £7 will be charged or conversion rate. Anyway they did only charge that much..but then a week later i got a -£1.50 from my account. So i looked and Halifax charged me £1.50 for the transaction and told me its because Paypal charged it in $ so it's a foreign currency. I felt a bit robbed to be honest..i know its only £1.50, but surely they should prewarn you that you could be charged extra for this etc..am thinking of writing a complaint, just why should i randomly put £1.50 into some fatcat bankers pocket? but i also wondered do all banks do this..or is it just halifax?

Even Canadian banks charge for conversion from US to CA currency. I am sure most Uk banks do charge fees for conversion as well.

Did you pay via debit or credit card? Usually with credit card I get charged 2.5% currency conversion fee, usually paypals conversion rate is sometimes more favorable. But then again, I pay for all orders using credit card. Never use paypal balance or debit.....

nope was a uk debit card :s

Whenever I purchase something in another currency than sterling PP normally convert it back to £ and charge me in £.

I wouldbe a little more worried about the account than the £1.50 unless its your real details.

what do you mean? ive not been limited as of yet :s

possible linkage for use of a debit card attached to your bank account.