Exchange rates for transactions

JonInBerlin
JonInBerlin Member Posts: 2 ✭
in Ask The Community

On Friday, June 20, the US/Euro conversion rate settled at 1.3122 (the bid/ask spread is negligible between the currencies).  On Saturday, I made an online purchase and on Sunday a cash withdrawal and I was charged an effective rate of 1.3304 (after the 3% conversion fee).  The US/Euro currencies had not traded in that range since Wednesday, June 18.  That's an additional 1.39% in the conversion fee which is substantial.  Why the huge discrepancy?  

 

Comments

  • Nissim
    Nissim Head of Community Administrator Posts: 3,604 ✭✭✭✭✭✭✭

    When you use your Payoneer card, the conversion rates are determined by MasterCard at the time of transfer. https://www.mastercard.com/global/currencyconversion/

     

    If you'd like to send me a PM with the date/amount of the transaction in question, I can check the details and tell you exactly which rates/fees were applied.

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