Paypal Is Expensive

I just went to convert £529.45 to Euros in my paypal account and noticed that paypal was offering the exchange rate at €1.14, when my currency ticker on my desktop is showing €1.17, a difference of 3 euro cents.

So I checked xe.com and transferwise.com to compare rates and was taken aback at how much paypal is “skimming” from the exchange.

See my screenshot mash up of the different rates.

Basically paypal is making a shit tonne of money on currency exchange I suspect even more expensive than high street banks.