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By EvilDan, Apr 9, 2010
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Why do we have to pay near 2.00 CAD more ???
It seems the exchange rates are slightly off. Though it would actually be $40.24. We'll see what can be done about that and get the ShopTemp team to fix it.
It's not really a problem of ShopTemp in my opinion, since every credit card company uses their own exchange rate (mostly fixed for a period of time). It would be quite a mess if they tried to keep up with that. Additionally, most cc companies (at least in Germany) make you pay a small fee if you're paying in a foreign currency. So, there's no way it will be 100% accurate.
Maybe they could display the USD price in brackets next to the converted price, like Play-Asia does it for example [~40.22 CAD (39.95 USD)].
That may very well be what's happening, Takeshi. If that's the case we'll see if they can do what you've suggested.
I put in money for 31.95 USD, converted the 7th april it was about 32.35 USD that i transferred, so it was well enough i thought, but the payment didn't go thru to moneybookers until today, by then the exhange rate had gone up (so i guess it was todays exhange rate it went for...) and it was only worth 31.16 USD... so now i had to insert more money...
I'd like there to be some transfer guide and better information about exhange rates and what applies and such, it'd probably help quite a few people (this at moneybookers site, not that much you can do, but i guess you could have some kind of guide if you want too..)
But it's all intellectual masturbation - at the end they charge in US$ - and then you're at the mercy of MB/Paypal for what that converts to...
Well, the real reason is because with the web shop software they are using(unless there's a new version out I'm not aware of), the exchange rates need to be manually entered.
So it's expected there would be some lag cause people won't update the exchange rate everyday. They got stuff to do, are in hong kong, sleeping when we're awake in canada, etc.
Additionally, if you look at any forex site (xe.com, oanda.com), or hearing the business report on the news you're looking at a mid-market rate for large ($10,000+) transactions. No one buys or sells at the mid-market rate (the Bid is lower, the ask is higher, you will buy currency at the asking price), and of course you're not moving 10k of money either. Yesterday's typical cash transaction to purchase US$39.95 in CAD was C$41.8738
Well, how about you buy it in USD and let Paypal convert it for you o-o
That's exactly what happens...
Clicking the various flags shows you the approximate cost (based on whatever rate they programmed in) and at the end it's charged to paypal in USD which depending on where you are gets converted into your paypal currency of choice at paypals crappy rates.
I never let Paypal convert it for me. They charge you for the conversion and their rates are crap.
Well, I let them convert a purchase from Gamekool.
$15.10 USD into $15.62 CND (60 something anyways ) versus Gamekool's Canadian price of $18.94.
You aren't actually paying $2.00 more, the price is simply being quoted at the exchange rate they've entered. When you actually pay through PayPal in USD, you pay PayPal's current exchange.
For example: It was 31.95CAD for the Supercard DSTWO according to the ShopTemp website -- and yet because you're charged in USD through PayPal, the final total was actually *less* than what ShopTemp quoted because the exchange is in our favour right now.
ShopTemp exchange rates are now directly synchronized with an online currency exchange rate service...
price should reflect the exact exchange rate, but it doesnt change the fact that you have to pay in USD and via Paypal, so you are still subject to Paypal's own rates