I am sending deposits for self catering cottages with PayPal. It seems the charges are higher than the current bank rate. Is there a better system for paying when credit cards are not accepted?
Posted by
Greeley, co, usa
2604 posts
See if they will do a bank transfer. I just used www.transferwise.com to pay for three places in Germany. Fee amounts to about 1% and a good exchange rate. Much lower fees than when I used my banks 3 years ago.
Posted by
824 posts
When I paid for Italian apartments via PayPal last year, the exchange rate wasn't unreasonable. Keep in mind that the exchange rate you find on-line is the "bank to bank" or "institution to institution" rate, not the retail rate for money exchange. At least PayPal didn't charge a foreign transaction fee on top of their retail exchange rate - as most credit cards were doing at the time.
If you have a credit card that doesn't charge foreign transaction fees, you can attach it to your PayPal account (for payment purposes) and have the credit card do the money exchange for you.