Just a quick question for our European members, what is the current exchange rate on PayPal when you're ordering through our website?

I'm working through some stuff for Crisis, and I'm trying to work out the best exchange rate for us to use on the show stand.  The various rates on the Euro at the moment are:

1.25 - Actual exchange rate.
1.21 - To buy through the Post Office.
1.41 - To sell through the Post Office!  
1.35 - To sell at Natwest.

I can send money through PayPal at 1.20 at the moment, so I'm interested in the rate going the other way?

Does this help, Leon?

https://www.paypal.com/helpcenter/main.jsp;jsessionid=FsCDKwwLdkDspHhmD0W9VTX2c2n1hsBJPwVJpC1FQw18Kp3XHQl3!66163787?t=solutionTab&ft=homeTab&ps=&solutionId=163394&locale=en_GB&_dyncharset=UTF-8&countrycode=GB&cmd=_help&serverInstance=9006

Financial institutions always quote two rates, Leon, a buying rate and a selling rate. The difference between the two is the dealers' profit. Your problem is that exchange rates move up and down continuously depending on who is buying what and in what quantity - so the third parties like Pay Pal normally use an average for the day. However, the rate can vary enormously from day to day (particularly if the markets get cold feet), so you are aiming at a moving target. I would consult the Financial Times or the Times on the day of the show if you want a reasonably accurate rate. Use the lower (buying) rate.

Quote from: Hertsblue on 27 October 2012, 09:21:45 AM
Financial institutions always quote two rates, Leon, a buying rate and a selling rate.

Yeah, I'm OK on the differences, but we need to decide what rate we're using on the stand, as everything is priced in £'s.  If we convert at 1.2 Euro's to the £, then it's great for the customer, but we'll lose several hundred quid when we convert it back at this end.  If we go too high, like 1.4, then it's a bad deal for the customer on the day, and it'd be cheaper for them to buy online.

So, we end up trying to find the ideal compromise, where folk are still getting a good deal, and we're not losing a shedload of money on the exchange.  

In previous years, it's the first question all the traders ask each other, as we try to find the common ground!

Quote from: nikharwood on 26 October 2012, 09:43:22 PM
Does this help, Leon?

https://www.paypal.com/helpcenter/main.jsp;jsessionid=FsCDKwwLdkDspHhmD0W9VTX2c2n1hsBJPwVJpC1FQw18Kp3XHQl3!66163787?t=solutionTab&ft=homeTab&ps=&solutionId=163394&locale=en_GB&_dyncharset=UTF-8&countrycode=GB&cmd=_help&serverInstance=9006

Is that the mobile payment thing?  I'll have a look at that, as that could definitely be an option.  If I can install in on the tablet (and get a signal on the Mi-Fi!), then it could be a go-er.  I might give them a ring, as it doesn't say if it can be done on a tablet.

The PayPal payment thing isn't a goer unfortunately, as they'd want us to sign up for a £20 per month contract.   

Any European customers know the exchange rate PayPal are charging at the moment?  If anyone has a spare 5 minutes, if you go into PayPal, click 'Send Money' and then try to send £100 to someone, how much does that come up as in Euro's?

â,¬128,89 EUR

Quote from: barbarian on 30 October 2012, 01:52:20 AM
â,¬128,89 EUR

Cool, thanks for that.  So, 1.3 is looking about right, if only I could find a cheaper place to sell the Euro's when we get back.  

I usually visit a 'Drinks Warehouse' on the way back from Belgium - its a great way to use any Euros I may be carrying and saves worrying about exchange rates once back home!

I think you said you're going in the van so thats quite a lot of potential beer capacity.

Quote from: PeterRushton on 30 October 2012, 03:00:42 AM
I usually visit a 'Drinks Warehouse' on the way back from Belgium - its a great way to use any Euros I may be carrying and saves worrying about exchange rates once back home!

Might not be the best use of the show takings...!   

Quote from: PeterRushton on 30 October 2012, 03:00:42 AM
I think you said you're going in the van so thats quite a lot of potential beer capacity.

Not much room in the van, it's getting to be like a game of Tetris fitting everything in there!

Then buy a shedload of tobacco Leon, 50g pack, 6 euros there, £16 here, I'm sure you could offload it at about £9 a pack around your areaeasily enough. There, I just added 50% to your profit on the trip. 

Horrible suspicion that is illegal Gordon.....

IanS 

Yup, book him, Danno - murder one.... 

Nah - declare it as personal use (you & Dave being heavy smokers, natch  ) and then, if you get caught offloading it later, tell the Old Bill / HMRC that you've given up as part of Stoptober 

I have an idea on how to spend your â,¬...