Could not subscribe, try again later Invalid EmailThinking of using PayPal to buy something from an overseas retailer? If you don’t have your wits about you, you could fall for one of the biggest money-making rip-offs around: dynamic currency conversion. What PayPal doesn’t say is that the conversion rates offered by Visa and Mastercard are almost guaranteed to be more competitive than PayPal’s rates. Hiding their margins(Image: Getty)James Daley, founder of Fairer Finance , accuses PayPal of not being upfront about currency conversion. “When customers pay in a foreign currency, they typically have the option to use PayPal’s currency conversion rate or their card issuer’s rate.

Source: Daily Mirror January 19, 2018 14:15 UTC