who sets exchange rates on 2checkout.com ?

[thetransporter]

I just have a question, im purchasing a 895 USD item, im using my USD credit card as when I switch the currency to CAD the price goes up to 925 or so. (this was a few days ago)


Curious about this, I emailed 2checkout they claim they do not set the rate as its done by the credit card company which I explained I didnt even enter my credit card...


below is their email.





Hello

Thank you for contacting 2Checkout.com. I apologize for any delays and would be happy to assist you with this issue. The currency exchange rates are not set by 2checkout.com nor do we take any additional fees in association with the currency exchange. Any additional fees issued against any given transaction with a currency exchange rate would be issued by the card provider. This being said the information has been passed on to a supervisor to look into any possible issue. At this time there are currently no known issues regarding this. I apologize for any inconvenience that you may have experienced. If you need assistance any time feel free to contact us. Thank you once more for contacting 2Checkout.com and have a great day.

Thank You,
J. R. Barkeloo
Fraud Specialist
Fraud Prevention Unit
[email protected]

Tell us how we are doing by answering this quick survey.
http://www.surveygizmo.com/s/389556/deskpro-jbarkeloo
Phone: (877) 294-0273 (Toll-free US & Canada)
(614) 921-2450
0871 284 4844 (UK & Northern Ireland)

[eblend]

Most credit cards charge 2-2.5% for exchange rate on foreign currency. If you have a USD card, why don't u just pay in USD?

current rate for 1 cad is just under 1 USD, so that adds a bit as well as the rate you would see on xe.com is better then you could actually get (I think they use wholesale rate on xe.com)

[thetransporter]

Originally posted by eblend
Most credit cards charge 2-2.5% for exchange rate on foreign currency. If you have a USD card, why don't u just pay in USD?

current rate for 1 cad is just under 1 USD, so that adds a bit as well as the rate you would see on xe.com is better then you could actually get (I think they use wholesale rate on xe.com)

thanks but that was not my question, i used the USD card, but 2checkout says they make no money on exchange rates than who is getting that 40 dollars.... this is of course before you even are even billed.

I know with my OS commerce site i can set my exchange rates and make a margin. 2checkout is saying they dont set the XR but i dont buy it.

[eblend]

Originally posted by thetransporter


thanks but that was not my question, i used the USD card, but 2checkout says they make no money on exchange rates than who is getting that 40 dollars.... this is of course before you even are even billed.

I know with my OS commerce site i can set my exchange rates and make a margin. 2checkout is saying they dont set the XR but i dont buy it.

Perhaps they don't, but their bank does, and they just pass on the buck?