This is only a software question in that the last couple of times I have purchased software via PayPal for something in Euros that I get charged in dollars more than the conversion amount.
 
For example I just purchase something at:
€64.00 EUR  charged 
$71.33 USD  paid
but at the current exchange (according various Internet sites) what I should have paid is: $69.60
That (according to my sometimes bad math) is 2.4% - if you're skimming that off of every international sale that's big money! 
 
Neither PayPal or my bank (BofA) say that they are charging a fee for the conversion - the last time I tried to get to the root of this both pointed the finger to the other as the culprit.
 
Just wondering if everyone gets hit by this.
 
 
 

Yeah I found similar, if I do the calculations with the current exchange rate from either Euros or USD to AU$, Paypal's conversion is always higher. I just don't worry about it because Paypal is so convenient, and it's only a few dollars, granted it adds up as the number of transaction increase, I just don't worry about it and click buy.

Nobody who accepts payment in multiple currencies is obligated to give the "official" exchange rate, which is the rate banks charge one another and not a retail figure. In fact, most do not - even your own bank. PayPal only promises "competitive" exchange rates. 
 
One way to mitigate this is to tell PayPal to use the vendor's currency, not yours.. Yes, you can do that. It'll then be your credit card company that charges the conversion fee, not PayPal. Credit card companies typically charge a little less, but because there can be a delay of days or even weeks before your CC is actually debited, the exchange rate can significantly change between the time of purchase and the actual charge. You could even end up paying more.
 
If you type "Euro to Dollar" or "Pounds to Euros" in your Chrome search bar, you'll get Google's conversion utility. This shows a graph of the currency's history and you can get an idea of whether or not a delayed calculation is likely to benefit you. Those graphs currently show that the pound has been steadily rising against the Euro, while the dollar-to-euro rate has been fairly constant in recent months. So for U.S. consumers, UK-sourced products are getting more expensive, while EU-sourced products remain a good value.

My personal experience? I don't "gamble" on FX (foreign currency exchange). Period.
 
Back when I had a real job, I wrote a contract with an Australian software company to provide software and services to my client (city/county of Honolulu). I begged the powers-that-were in Motorola's finance department to hedge the exchange rate. They knew better. They had it covered, they said. Well, by the time the 18-month contract was up, I'd lost ALL of my margin to exchange rate fluctuations. The bastidges at corporate forced me to eat all of the loss.
 
Like MTV...I want my exchange...and I want it now.
 
I have no problem with PayPal's "fee."

As noted the rate you see is what Forex traders pay. So you get that kind of rate only if you are trading large quantities (like millions) of dollars of currency. Any other institution is going to charge more since they are already paying that rate. If you call your local bank they should tell you what they'll charge, and they'll give two numbers: The amount if they sell to you, and the amount if they buy from you.

Don't count on Visa for the "best" rate either, it might be better than PayPal.
My wife got some "class action" money not too long ago; seems Visa might of been "gouging" their customers.
Ever buy/sell stocks?
You think you get the quoted price, you'll pay more and sell for less the the big boys; trust me.
And pay commissions on top of that...
T

The global economy is designed so that everyone in the chain gets their skim. The banks and the credit card companies being at the top. Here's a fun test. Go to the bank and buy $100 of foreign currency. Now, take that money and try and buy back the money you spent to get it. You'll be short and have to pony up a few more bucks to make it happen. The global economy is a racket pure and simple, and its primary goal is to make big money for corporations. 

ampfixer
 Here's a fun test. Go to the bank and buy $100 of foreign currency. Now, take that money and try and buy back the money you spent to get it. 

I've actually done that and come out ahead. I just got lucky, though; the dollar wise falling quickly against the other currency (the old pre-Euro Deutschmark) so fast that an hour after my transaction the bank halted trading. I think I made about 7 bucks on the deal, so I felt like a big-time currency speculator. I bought a braunschweiger sandwich, courtesy of the international monetary system.
 
BTW, a travel tip: when I travel overseas I no longer bother getting foreign currency in advance. The banks rip you off something awful. Many years ago I discovered that a) U.S. $100 bills are the true international currency, and b) the black, er, grey market always beats the bank.