PayPal's currency conversion fee ate $47 from my last Fiverr payout before I noticed

I always just let PayPal handle the exchange rate on my $200 Fiverr payments, but last month I finally checked the math and realized they were taking an extra 4% compared to using a service like Wise. Has anyone else done the comparison and found a better way to dodge those hidden conversion charges?

3 comments

3 Comments

perry.jesse6d ago

Wait, you actually got charged an extra 4% on top of the regular fees? I always just let PayPal do its thing too and never bothered to check, but now I'm wondering how much I've lost over the past year. I watched a buddy use Wise for a big payment from overseas and he said the exchange rate was way closer to what Google shows, so I guess I need to start doing that instead of being lazy about it.

knight.uma6d ago

Man, that's exactly what I'm saying. People just hit "send" and never look at the fine print. But here's what I want to know - did you actually tally up what you lost from that one transaction, or are you just guessing? I find that when people actually run the numbers, it's way worse than they think. Like, have you ever sat down and added up the difference between what PayPal gave you and the real market rate for a whole month? That's the only way to know if you're getting hosed.

charlie1986d ago

$47? That's almost enough to buy me one of those rocket ship mouse pads I convinced myself I needed last month.