Using Amex with Paypal
Comments
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I have previously used my Amex Card when paying for PayPal items as the conversion credit is always greater than the commissions, so I end up paying less. However, I've discovered today that AmEx NO LONGER apply conversion credits, so you will LOSE OUT if you pay using AmEx. Their reply to my query about a missing credit conformed this and also confirmed:
Thank you for your reply
Yes I can confirm the Pay Pal transactions will continue at the punitive conversion rates
I hope this has resolved your enquiry.
Thank you for your continued loyalty to American Express.
Kind Regards,
Ash Mohammed
E-Servicing, American Express
So even they agree the rates are punative! :eek:0 -
So even they agree the rates are punative!
There are two sets of fees.
One from paypal for converting £ to $s.
One from Amex for converting $ to £s.
Amex are not responsible for the former charge.
If you want to blame anyone blame paypal for not being able to charge a sterling Amex card in sterling.
I don't have any connection to Amex, but I think it's paypal at fault here for charging you in the wrong currency in the first place.
My comments apply to purchasing a sterling item.
If you are purchasing a $ item then I don't think the rates are much different to many other banks (I think it's 2.73%).0 -
The response was to a comment that the conversion was punative, not just PayPal's element.
But I agree, it's PayPal's issue.0 -
The response was to a comment that the conversion was punative
It sounds a strange thing to say about their own rates.
There rates are not higher than other banks (which are mostly about 2.75%).
I have found card rates quite good in comparison to changing cash.
I don't really agree with the comment even if one of their staff said it about themselves.
Businesses cannot change money for free and it's OK compared to the rest of the market.
The thing that is wrong is this silly 2 way conversion.0 -
Nationwide change money for free
Yes you are right but in some countries it's a nightmare trying to use their card (like poland for example).
I'm not talking about jsut one ATM, we tried about 10.
I don't know if this is due to the fact that they pay no commission.
I have still be using my AMEX card because despite the 2.73% charge, I'm still in the 5% cashback period so it's still worthwhile.
I don't think their 2.73% charge is out of line with the rest of the market in general.
Nationwide are an exception and not the rule.0 -
I used Lloyds TSB Amex Card at paypal couple of times. Everytime intially Lloyds charged me 1/2 GBP extra. but later they refund me extra charged fee. Even sometimes they refund me more e.g.
Instead of £58, they initially charged me £60.96. but next day they refund me £3.66. In this case, my net payment was £57.3 (£0.70 profit lol).
As they convert £-$-£, i think all depends on conversion rates. & by this process, sometimes we loose or gain extra £.0 -
Yes you are right but in some countries it's a nightmare trying to use their card (like poland for example).
No probs using the flexaccount card in cash machines though.0 -
Active_Lad wrote: »I have previously used my Amex Card when paying for PayPal items as the conversion credit is always greater than the commissions, so I end up paying less. However, I've discovered today that AmEx NO LONGER apply conversion credits, so you will LOSE OUT if you pay using AmEx. Their reply to my query about a missing credit conformed this and also confirmed:
Thank you for your reply
Yes I can confirm the Pay Pal transactions will continue at the punitive conversion rates
I hope this has resolved your enquiry.
Thank you for your continued loyalty to American Express.
Kind Regards,
Ash Mohammed
E-Servicing, American Express
So even they agree the rates are punative! :eek:
This is perplexing. Can anyone else confirm that AmEx are no longer refunding this conversion fee? The PayPal statement as of today insists that they do. Are they providing false information??0
This discussion has been closed.
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