Check this out (from my Paypal statement):
|Total amount:||-$625.99 USD (equals -€504.80 EUR)|
|Fee amount:||$0.00 USD|
|Net amount:||-$625.99 USD|
And now go to http://www.oanda.com/currency/converter/ and try to exchange $625.99 USD to EUR. What do you get? 504.80 EUR? Less, right? So this is how it should be… Now Paypal converted EUR to $ from my account and instead of approximately 480EUR charged 504.80EUR … And they call it Paypal exchange rate. Huh.