Mystery Shopping Thread 21 *PLEASE READ THE OP FIRST**PLEASE NO CLIENT NAMES OR FEES*

Lil_Me_2

marvellousaunt wrote: »

I just google 'X euros in £' and go by that. It's going to be the difference of a few pence, if anything, unless you've done £100s of jobs with Bare

Based on xe.com and the final amount I have in my paypal account the rate used is quite different.

I got the full reimbursement. I have lost £1.04 in the conversion from what xe.com said I should get, and what I actually got. If that makes sense? Not sure what rate my bank would have used, but they also add on a fee of £2 so I think I'm better off using paypal.

marvellousaunt

Lil_Me wrote: »

Based on xe.com and the final amount I have in my paypal account the rate used is quite different.

I got the full reimbursement. I have lost £1.04 in the conversion from what xe.com said I should get, and what I actually got. If that makes sense? Not sure what rate my bank would have used, but they also add on a fee of £2 so I think I'm better off using paypal.

The 'loss' will inevitably be higher for higher amounts of reimbursements. For example (purely theoretical) a 6E fee says it is £5.12 on Google, translates to £4.99 on Paypal. So it's around 15p for a £5 fee... 30p for £10... might be £1.50 I suppose with £50.

When calculating what I'll get for the Euro jobs, I calculate the rate using Google, then round DOWN to the nearest pound, usually gives a good enough estimate.

yonk

The XE rate is the mid point of the spread, I think. The spread is the difference between what a currency is bought and sold at. So Paypal would convert to less than you expect as they take a large commission on it. If you can get it paid into a non-fee bank account, it's sometimes closer to the mid-rate. However, the bank may take a cut....

The world currency trade is 32 trillion dollars, all the money is made with those odd pennies of difference by the market makers. The rest of the cash is made by the move in the currency...

How geeky am I? Happy to be corrected!!

marvellousaunt

Used to work in foreign exchange. We used to say if you started off with £10, changed it to US dollars, Euros, another currency, and back to £££, you'd probably not end up with any money left. Where does it go?!? Grrrr.

Lil_Me_2

marvellousaunt wrote: »

The 'loss' will inevitably be higher for higher amounts of reimbursements. For example (purely theoretical) a 6E fee says it is £5.12 on Google, translates to £4.99 on Paypal. So it's around 15p for a £5 fee... 30p for £10... might be £1.50 I suppose with £50.

When calculating what I'll get for the Euro jobs, I calculate the rate using Google, then round DOWN to the nearest pound, usually gives a good enough estimate.

Oh yeh, I understand that! Wasn't trying to correct you, just thought that for those who know the jobs they might be interested to see the difference

marvellousaunt

Lil_Me wrote: »

Oh yeh, I understand that! Wasn't trying to correct you, just thought that for those who know the jobs they might be interested to see the difference

It's a good thing to be aware of I find even accounting for the exchange rate and little losses, Helion for example pay very well, so the 1 or 2 euros extra usually covers these little losses. Which is all very nice

sparklysaver

:wave: Hello everyone, just dropping in to say hi because I've been lurking for a while and making use of the really helpful info on the first page, and was feeling a bit rude about not saying thanks.

Started off with some jobs for GAP (oh god if I never see another burger in my life it'll be too soon) which seem fairly straightforward, athough my god the chicken ones want to you remember a lot for your money don't they? Have since signed up with RE (have done 6 and only had 1 random proofreader query about something which wasn't even asked on the report, so am feeling quite proud after reading some of this thread :rotfl:) and RM (done a few in the last couple of weeks, one of which was an awful customer service disaster which I might even have complained about were I a genuine shopper, so that was interesting!).

Have applied for GR and allegedly been accepted but no jobs have come up in over a month, and also applied for GFK but they sent me an email to say they'd be in touch then never came back to me to say if I'd been accepted or not. Is it worth re-applying, does anyone know?

Anyway, will probably apply for some more companies in the new year now I'm a bit more confident that I know what I'm doing. Am thinking BARE might not be a good idea, having skimmed the last few pages here. :rotfl:

TractorGirl327

Becles wrote: »

I'm waiting for one and it hasn't arrived yet. I'm hoping it comes today as I've got to go to the bank tomorrow so could pay it in.

I got a cheque from them last week for a job done 15th October.

Angelica_2

Just wondering has anyone else not been paid for October jobs by Bare. Just checked my on line banking nothing showing yet for me and some people are saying they've been paid.

whitelabel

I hink i read that people getting paid by paypal had been paid
bank accounts may take a little longer to show

no catalyst cheque yet either but was waiting to hear if they will do BACS to a no fee bank account instead