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  #1  
Old 07-24-2012
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Default 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?
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Old 07-24-2012
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Even Canadian banks charge for conversion from US to CA currency. I am sure most Uk banks do charge fees for conversion as well.
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Old 07-25-2012
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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.....
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Old 07-25-2012
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nope was a uk debit card
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Old 07-25-2012
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Whenever I purchase something in another currency than sterling PP normally convert it back to £ and charge me in £.
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Old 07-26-2012
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Quote:
Originally Posted by moneyhustler88 View Post
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?
I wouldbe a little more worried about the account than the £1.50 unless its your real details.
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Old 07-27-2012
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what do you mean? ive not been limited as of yet
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Old 07-28-2012
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possible linkage for use of a debit card attached to your bank account.
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