Prolific and paypal

[somelady]

Does anyone else feel cheated with the paypal exchange rate? The exchange rate keeps going down and paypal's rate is lower than other exchange rates.  Today I cashed out  £61.92  and it came out to $69.04
Transfer amount
$69.04 USD
Converted from £61.92 GBP
PayPal’s conversion rate:
£1.00 GBP = $1.114943 USD
Fee Free

 

8/30/22

PayPal’s conversion rate:
£1.00 GBP = $1.126990 USD

8/23/22

PayPal’s conversion rate:

£1.00 GBP = $1.136497 USD

Not to mention some Prolific surveys says higher dollar amounts than they really are. 

When Prolific had that survey a couple/few months ago that asked how we liked Prolific and what they could do to be better. I said they should have the surveys pay in USD, at least the surveys from the US. But I know it's not going to happen.

I hope the exchange rate goes back up soon.

 

[rosiesmom]

I honestly haven't paid much attention to exchange rates and the likes.  I have not been charged by Paypal as of yet, but once I am I will be done with it and close that account.  I don't make enough to mess around with Paypal.  I have almost stopped doing Prolific surveys.  I think they pay well, but I don't want to mess with Paypal anymore.

[NFriday]

Prolific only pays in paypal?

[NFriday]

I just looked them up, and they only pay in Paypal.

[melbourne_yankee]

Hi,

 

Yes, PayPal offers a crappy, lousy, rotten exchange rate.

If you buy something from overseas you get a rotten  exchange rate when you pay.  About 5% less than the mid rate quoted by Bloomberg.

And here in Australia that has to looked at either good or bad because if you use a credit card to pay for an overseas purchase, the bank will use a crappy exchange rate (not as bad as PayPal), but slap on an additional 3% fee for paying overseas.  There are only a few cards in Australia that don't do that either.

Another benefit of living in Australia.

 

[neminem]

Yeah, totally. Paypal's exchange rate is garbage - they used to use a different, better payment processor that actually provided roughly the expected exchange rate, but they switched it out for Paypal a couple years ago, which basically just sneakily charges an exchange fee without saying that they're going to, which is pretty lame. Still better than getting paid the same amount of USD, though. :p