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[Boodi 2]

Absolutely Pete,
and three cheers for Nick and the postal service

[Nick]

I'm delighted they arrived OK Boodi.

[Boodi 2]

Just a quick note to say that I am really delighted with the journals I received, which make a splendid addition to my Blyton collection.

[Hannah]

That's all you can do, Hannah. I could use PayPal for my transactions with my server hosting company in the USA but have never bothered changing my payment method since I started it quite a few years ago.

I would be interested to know what your conclusions are when you do.

I've renewed my subscription for the journal a few days ago. I decided to pay in pound because it was s little bit cheaper. I'm still confused though because the amount charged doesn't fit my calculations with the currency exchange rate and the fees of the credit card company . They charged me less than I thought so I won't complain but I'm still puzzled and I'd like to understand how it works.
Edit: It seems as if the extra fee wasn't charged. Maybe they will charge it at the end of this billing period? I thought it would show with the amount for that transaction. It was like that when I withdrew money in other countries but that was with other cards.

[Boatbuilder]

Hannah, one of my domain names renewed yesterday in the USA and the final charge has just appeared on my current account tonight. It was for US$15.59 and converted to the UK£ appears on my bank account as £11.38, which equates to an exchange rate of $1.3699/£. I have just checked the currency market this evening at that was the exchange rate at 18:40 tonight, according to the BBC website, so it looks like the rate that is charged by my bank is the prevailing rate at the time it actually leaves my account. When the charge appeared as an in-transit item yesterday at around mid-day, it showed as £11.39 so the rate must have improved slightly since then and I'm a penny richer than I thought I would be.

Of course there was also the bank's standard charge for a non-sterling transaction of 2.75% on top of the £11.38 which equates to £0.31.

I don't know how credit cards work their rates out as I only use a debit card, or sometimes PayPal for UK purchases.

[Hannah]

My bank gives a rate of 0,85550 and booking day 23/08 (I paid on Paypal on 19/08 late in the evening) - but I can't find out the "official" rate for 23 august. I keep finding different numbers for that day. Maybe it depends on the exact hour the booking was fulfilled?
I still think the fee should somehow show on my account together with the payment. But I'll wait until I get the (monthly) bill in September. Maybe all fees are combined in the end on the bill?

[Boatbuilder]

Hannah, I just took this screenshot from the BBC and it gives the €/£ exchange rate on the 23rd as 0.8556 which more or less ties in with the figure you mentioned. I would think the rate shown for an earlier day than the present would be the closing rate of the day. It would be interesting to know what the rate works out to on PayPal when you get your statement next month.

[Hannah]

Thanks for the screenshot and your ideas, Boatbuilder.

It would be interesting to know what the rate works out to on PayPal when you get your statement next month.

I'm not sure what you mean by that. PayPal simply shows the amount in pound. The bill of the credit card company is where the fees have been "missing" - at least until now. That bill will be there in mid September.

[Boatbuilder]

Yes, I realise that PayPal will only show the amount in UK Pounds, Hannah. I meant what the final charge is on your card statement.

Based on the rate you mentioned (0.8555), and what my bank charges for foreign currency transactions (2.75%), I would expect the total charge to be about €17.58 for the £20.00 charge for the Journal to Europe. - £20 x 0.8555 +2.75%.

[pete9012S]

Just a quick note to say that I am really delighted with the journals I received, which make a splendid addition to my Blyton collection.

Me too Boodi.
I have started one Journal which I have never read before. I am saving the others to enjoy when my wife and I go away for a week in October!

[Hannah]

Yes, I realise that PayPal will only show the amount in UK Pounds, Hannah. I meant what the final charge is on your card statement.

Based on the rate you mentioned (0.8555), and what my bank charges for foreign currency transactions (2.75%), I would expect the total charge to be about €17.58 for the £20.00 charge for the Journal to Europe. - £20 x 0.8555 +2.75%.

It's the other way round, 1€=0.8555 pound. It was 21.20 GBP and the bank has so far charged 24.78 €. That's exactly 21.20/0.8555 . But there should be an additional fee of 1.5% which would mean 25.80 €. That's why I'm a bit puzzled and wondering if the fee will only show at the end of the billing period even though I expected it to be charged directly.

[Boatbuilder]

At first I was puzzled by the £21.20, Hannah, but then checked and noticed that the Society charges 6% extra when paying by PayPal, no doubt because of PayPal back-charging the Society. Wouldn't it be more economical for you to pay by debit/credit card as I doubt they would charge you 6%.

I'm sorry. I calculated the wrong way round in my figures as I don't usually convert Pounds to Euros, but the other way around.

Incidentally, a charge of 1.5% on the 24.78 € would only make the total charge 25.15 € not 25.80 €.

I find BACS more convenient which is what I used for mine, but I'm not sure how that works with foreign transfers.

[Hannah]

Seems that I'm too stupid to type the correct formula into the calculator, I typed + instead of *

I didn't find a possibility to pay per credit/debit card or I would have used it.
I have never heard the abbreviation BACS and somehow thought it was something that only works within the UK. I've now googled it but I'm still not sure if it works from Germany.

[Boatbuilder]

Hannah, I've just been reading the following link and I think it's probably best sticking with PayPal for small transfers to the UK. International transfers look rather complex and probably pricey.

https://www.keycurrency.co.uk/transfer- ... any-to-uk/

[Hannah]

Thanks, Boatbuilder, though I'm not sure if that is the BACS system.
But I guess I'll stick with PayPal as it is the easiest way. The usual SEPA transfer should still be possible too.