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There are various ways you can buy foreign currency including money transfers or travel money. You can buy foreign currency using a Foreign Exchange Company such as pay using PayPal for the foreign currency conversion, buy using an international credit card or use a currency top-up card. You can also buy travel money online at competitive exchange rates and have it delivered to your address or manage it online. Get a FREE quote with no obligation to buy or sell.

Methods of buying foreign currency

PayPal foreign currency, exchange rates and fees

If you buy something from abroad on eBay, a shop that accepts PayPal, or you have a friend, family member or know someone else who has a PayPal account simply add money to your PayPal account and when making the currency payment choose the foreign currency to pay the recipient in. You will then see displayed the cost in your home currency before making the payment. You can also use a credit card to fund the payment. PayPal foreign currency exchange rates are calculated on the payment screen and you can see the currency conversion rate before clicking to complete your order online with PayPal.

PayPal fees (either the sender or recipient pays the PayPal transaction fees)

When making an international payment using PayPal to pay someone or a company the sender decides whether they (the sender) or the recipient pays the fees. The PayPal fees are calculated depending on how the payment is funded. If you are sending money direct from your PayPal account (or using your PayPal linked bank account) the fees range dependent on the countries that you are sending money between (for example, PayPal payments between most European countries range from approx. 0.4% to 1.0%). However, if you are sending the payment using PayPal funded by a debit or credit card, the PayPal payment fees are approximately 3.9% per transaction amount. For example if you are sending £100 via PayPal you can expect to pay £3.90 in PayPal fees. eBay is often associated with using PayPal for the money payments in a foreign currency using the quoted PayPal currency exchange rates.

If you are looking for information on setting up a business and selling on ebay and the affect of exchange rates see the international business page.

eBay and Amazon online sellers can open foreign exchange currency accounts with moneycorp to benefit from better exchange rates compared with using a bank or PayPal.

Using credit cards abroad

Credit cards are good to use abroad because you often do not pay fees (check your credit card provider for their fees) and you get the latest exchange rates. You may like to download our exchange rates app before you travel to calculate prices when abroad before paying with your credit card.

Prepaid Currency Card

Simply add foreign currency to your card before you travel and then pay using the prepaid top-up card. This is very similiar to using a debit card.

Travellers Cheques

With a travellers cheque you are required to sign each cheque. This make it the most secure way to buy and travel with foreign currency. If you lose your travellers cheque or it is stolen you can get replacement travellers cheques. The problem with travellers cheques is handling fees, commission charges, cashing in fees, etc. making it in many cases the most expensive option.

Cash via the post to your address the next day

Convert money from your bank account using a bank transfer or debit card payment and receive your foreign currency in the post to your address the next day before 1pm.

Airport foreign currency

Money transfers are available at all international airports. Bureaux de Change at airports are the most expensive ways to transfer money. moneycorp has Currency Exchange locations at various UK airports and Central London locations.