Exchange rate warning

[Vrodfast]

I ordered a digital gauge and a FX slug liner from Huma Air on the 25th of June. A couple of days later Tony from Huma Air emailed me with the bad news that they could not send FX parts to the US I would have to go through a US FX dealer.
None of the dealers in the US have .22 700mm slug liners in stock thanks to those SA YouTube movie stars blowing the poop out of everything with utter precision. (I assume)

I asked Tony to just cancel the whole order so I could make another order worth the shipping cost, which he promptly did. The next day I received the refund to my credit card for $191. The only problem is the original amount I paid was $201. 
I emailed Tony back and he said they processed the refund for the original amount of £ 161. I made my payment to them through PayPal. PayPal made the US to EU conversation at the time of payment and the refund at the time of refund. In five days the Eu to Us rate dropped substantially so I lost about ten bucks. 
This is in no way the fault or responsibility of Huma Air they were very professional and responsive to my inquiries. 
So the moral of my story is be weary of doing US to EU funds through PayPal.
I wonder if the exchange rate went the other way if I would’ve made money? I doubt it!

 

[Calson]

The exchange rate is ignored by PayPal and Western Union and they skim off an extra 5% or more. You need to use a credit card from a bank and if you do that the exchange rate will be the one negotiated by the bank that day. Current exhange rate is $1.38 to the pound.

 

[Vrodfast]

That’s good to know that its a PayPal thing and not all payment methods. Thanks. 

 

[Backyardbandit]

Not sure with buying online but buying with a company in the UK, if they refund me and the exchange rate has gone in the dollars favor, I get more back that originally paid.

 

[NevadaZielmeister]

This is good to know. I also remember from years past to use a Credit Card. My preferred credit card company is American Express. 

 

[CoyoteGod]

Seeing a lot of very expensive items not just in our hobby, but everyday living. Everyone is hiring, not many working, and fake money is just dumping in to the economy like water. Inflation and recession are coming, California will see it hit first. All the signs are there. Cost of borrowed money is cheap, items are expensive, equals massive debt and poverty for the last of the middle class that will disappear. No housing for people because lumber futures are higher than anytime in history. A single family home is more expensive now than before 2008 everywhere, not just city centers, and fuel and the basic groceries are getting less and less affordable even with a full time job. California just hit $85,000 as the poverty line. California has the highest incomes in the nation and the highest levels of poverty. No politics, just fact and it's spreading out to the rest of the country from both coasts like COVID.

I appreciate that heads up on PayPal. I personally think Pay-ebay-Pal is a big fee scam. I hate using it, I just did my last transaction using it, never again. Too many options now to use that antiquated giant fee system. The exchange rate is really hitting our hobby suppliers also. They are working hard to keep us happy with price stability while taking it in the shorts ordering the parts we like most like Huma Air products (those of course that haven't passed the cost to us... yet). Just hope we can keep supporting them and keep their doors open and jobs available, while we trek this COVID economy mess. AOA used to offer military, LE and First Responders a small discount with ID, they can't anymore because of the exchange rate. I don't blame them, they are trying to keep the prices the same for us.