Arbitrage By PayPal

from the oops dept

It seems that whoever set up the PayPal UK pounds to US dollars currency converter didn’t understand that the UK currency and the euro are two very different things. So, while the real exchange rate is something like ?1 = US$1.57861, PayPal believes it is ?1 =97c. Now, there’s a pretty clear way to profit from such information. Just start converting all your US dollars… Of course, if you’re in the UK, this also means you shouldn’t buy anything in US dollars using PayPal for the time being.

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