Tuesday, May 02, 2006

Paypal wins again

When I went to London this past February, I was surprised that Paypal gave me the best exchange rate. So, I tested it out again yesterday in Hong Kong:

Paypal: 7.765 HKD/1 USD
Bank of America ATM: 7.752
American Express: 7.601

That's a 2.16% spread between Paypal and AMEX. Even with an Starwood AMEX which returns about 2.5% worth of Starpoints, it's not worth it because Paypal returns 1% on credit card purchases. For ATM withdrawls, Paypal charges a flat rate of $1.

I'll run another test in Tokyo on Wednesday.

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