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Is Cash Automatically Converted When Buying On Foreign Retail Sites Online? | matalan

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Is Cash Automatically Converted When Buying On Foreign Retail Sites Online?

For example, the consumer purchases an item on any online retailer (amazon, ebay, etc) for X amount of EUR but lives in US.

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2 Responses to “Is Cash Automatically Converted When Buying On Foreign Retail Sites Online?”

  1. Noah says:

    Yes and no, and there is a conversion fee for converting between currencies. Make sure you know what the exchange rate is so you don’t get surprised by the cost.

  2. Doru Ubuntu says:

    You mean currency, as you cannot buy online with cash…. YES, they convert the foreign currency into US dollars automatically, as your bank will only pay in US dollars. You usually get screwed on the exchange rate, all online sellers offer a rate about 5% to 10% worst than the actual bank exchange rate. I purchased a laser printer for a relative in Romania, and they charged me 3.48 Lei for $1, when in fact the exchange rate was 3.56. I paid $88 instead of $86.

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