Sorry for the newbie question but I couldn't find it in the search anywhere 😕
If someone with a German account is requesting 130 Euros from a person in the United States using the paypal.me button, who pays the exchange rate?
As I understand the receiver would pay the 3%+30c fee, and the sender would pay the exchange rate difference, assuming they are using USD from their account.
The person in the U.S. does not have Euros, so the U. S. person would pay the U. S. dollar eqivalent of the requested Euros. You, the recipient, would pay all conversion rates after the U. S. person sends the dollar.
The person in the U.S. does not have Euros, so the U. S. person would pay the U. S. dollar eqivalent of the requested Euros. You, the recipient, would pay all conversion rates after the U. S. person sends the dollar.
It is my impression,the sender pays the 2 1/2% conversion fee,afterall the sender is the buyer and he wants to buy something denominated in Euro,and he has to find a way to come up with the Euros,why should the seller bears the fee?
seller asks euro$130 for the item,buyer would have to come up with Euro$130,what ever it takes to come up with this amount is the responsibility of the buyer .
if he has to ask Paypal to go to the foreign exchange market to buy the euros,there is a bid and ask price real time,so Paypal will pay the asking price and for its service,Paypal charges 2 1/2 % fee.
seller would receive Euro $130 minus the Paypal fee of 30 cents transaction fee plus 3.9 % discount fee,so he is looking to receive 130-5.07=124.93 euro
If the recipient is requesting €, PayPal will display currency conversion to US sender to pay USD equivalent in €, the conversion takes place on the sender's end and recipient simply receives money in €. If US sender simply sends $130 USD via send money tab to recipient, conversion takes place on recipient's end. So you can put /130EUR at the end of your PayPal.me url to request money in € and the conversion takes place on sender's end.
I invoice or request payment in USD and receive money in USD, no currency converting needed on my end. I just pay PayPal fee to receive money.
