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<p>[QUOTE=&quot;Valentinian, post: 4132445, member: 44316&quot;]Yesterday I was given the option of paying an invoice for 347 euros with PayPal for an additional 4.5%. Last time I used PayPal they gave me an dollar-to-euro exchange rate about 4% worse that the publicized mid-market rate, which is now 1.081. So, to pay that bill it would have cost me about 347(1.045)(1.081)(1.04) = $407.67. </p><p>&nbsp;&nbsp; </p><p>I used TransferWise instead and paid $380.20. The difference to me is over $27!&nbsp; The effective rate, including fees, was $380.20/347 euros = $1.0956/euro (instead of 1.081). Not bad!</p><p><br /></p><p>PayPal has a type of insurance that TransferWise does not. That could be a reason for using PayPal, especially with eBay. I grant you that.</p><p><br /></p><p>I just read that PayPal is now valued at 140 billion dollars. They are worth that much because people let them take a big cut to move money around. But, there are much cheaper ways to move money now. If you are still using PayPal to pay reputable auction firms (not eBay sellers) across currencies, I encourage you to rethink whether you really want to give PayPal that much money when other firms will do it for far less.[/QUOTE]</p><p><br /></p>

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