Conversion Rates???

    • metza
      metza
      Bronze
      Joined: 28.01.2012 Posts: 2,220
      Ok, so today I deposited 214 Euros to the site.
      According to this site this is $336NZD
      http://www.xe.com/currencyconverter/convert/?Amount=214&From=EUR&To=NZD

      But I was charged $350.79, an extra $14NZD

      It says on their site they charge a 1.5% fee for transactions which I am ok with, but the numbers seem too different.

      According to Xe, $350.79NZD is 222.89 euro. If they take 1.5% that's 214*1.015=217.21 so I should be charged 217.21

      Where is this 5.5 euro discrepancy coming from, this is fairly significant change in transfer rate????

      If they are using their own currency transfer rate (and thus taking a cut there) it is not fair and underhanded to put a fee as well.
  • 4 replies