Why is ebay charging 3.7 % instead of 3% to exchange my moneys canadian to us funds.

[girlytoo]

Why is ebay charging 3.7 % instead of 3% to exchange my moneys Canadian to US funds.

It's the principle of it not the money. Purchase price was  4.38 US which is 5.63 ca (rounded to the higher) at XE Currency Converter. (which was the same as ebay) I was charged 5.84 Canadian.

5.63 x 3 %    = .17     5.63 +  .17= 5.80 I thought it should have been.

5.63 x 3.7% = .21     5.63 + .21 = 5.84 This is what I was charged.

Like I said it isn't the moneys in my case because it is only 4 cents but if this was thousands of dollars I would be a little put off.

Is there another fee that Ebay charges that I am not aware of?

I wonder how they got this.

Thanks in Advance

No is the price of money I checked XE very reputable and Ebay did have the same figure.

[femmefan1946]

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=CAD

This is the xe.com site.

Notice the 90 day Quick Look, with a range of about  7% in prices.

And the USD to CDN chart that shows the range over the past year.

[girlytoo]

Yes I know what everyone is trying to say but in a matter of the 1 min or even the last two days not much of a change if any .0001. I f think I got it though. They get to charge you any price they feel and then add 3%. Or... As I recall buying some us fund from xe years ago I think I only paid .7% for the exchange with the list price that you saw at their site at that time. (canadian was on the + side then) Sound like they buy it from xe maybe or charge that price then add the 3%.

[girlytoo]

here is a site to show what it has done in the last week https://www.ofx.com/en-ca/forex-news/historical-exchange-rates/