What is the conversion rate for money with steam?

[Roflcopterkklol]

I threw some money into my spare bank so i could buy $5 credits on steam, i figured $15 (AUD) was plenty to cover that but apparently not, how can $15 AUD not = $5 USD?
By my estimates $15 AUD is $11.32 USD so what the hell why is it saying there are not enough funds in my bank to make the purchase?

How much is steam trying to rip me off here?
Personally it feels like steam is trying to charge around $5AUD to each USD.

[Spambot71 (main character)]

conversion rate is charged by your bank, you'd haveto ask them

[Nagisa]

Publicado originalmente por Roflcopterkklol:

I threw some money into my spare bank so i could buy $5 credits on steam, i figured $15 (AUD) was plenty to cover that but apparently not, how can $15 AUD not = $5 USD?
By my estimates $15 AUD is $11.32 USD so what the hell why is it saying there are not enough funds in my bank to make the purchase?

How much is steam trying to rip me off here?
Personally it feels like steam is trying to charge around $5AUD to each USD.

as i dont know much on conversion rates or how steam actully does this but isnt the game offered in your own currency? (i mena from what i understand steam has regions and shows the prices for each regin in the respected areas that steam supports

i also dont knwo what AUD is XD but lol sorry not much help

[Roflcopterkklol]

Thats a thought, maybe my bank is putting an additional fee on top that is something moronic

[Roflcopterkklol]

Publicado originalmente por Nagisa:

Publicado originalmente por Roflcopterkklol:

I threw some money into my spare bank so i could buy $5 credits on steam, i figured $15 (AUD) was plenty to cover that but apparently not, how can $15 AUD not = $5 USD?
By my estimates $15 AUD is $11.32 USD so what the hell why is it saying there are not enough funds in my bank to make the purchase?

How much is steam trying to rip me off here?
Personally it feels like steam is trying to charge around $5AUD to each USD.

as i dont know much on conversion rates or how steam actully does this but isnt the game offered in your own currency? (i mena from what i understand steam has regions and shows the prices for each regin in the respected areas that steam supports

i also dont knwo what AUD is XD but lol sorry not much help

Nope, for some reason any games i buy on steam are only offered in American currency, and AUD is Australian dollar lol

[Spambot71 (main character)]

Why would it be moronic? All banking institutions charge to change currency, kinda like how they charge for all their services. It's how they make money.

[Nagisa]

oh well then XD i dunno lol and thank you learn somethign every day ahaha xD

but other poster prolyl closer to it maybe they charged ser charges? (i know some debit cards/credit does this) so maybe?

[Roflcopterkklol]

Publicado originalmente por Spambot71 (main character):

Why would it be moronic? All banking institutions charge to change currency, kinda like how they charge for all their services. It's how they make money.

Because it seems like my bank is charging around $10 to spend $5, only reason why i could see the purchase not being made haha.

wow that kinda makes steam not worth using, no wonder i seem to spend a lot of money on this

[Spambot71 (main character)]

Ok, just os we are clear, how much did you try adding.

[Roflcopterkklol]

Publicado originalmente por Spambot71 (main character):

Ok, just os we are clear, how much did you try adding.

Tried to add $5.90, just spoke with my bank and they are saying they do not charge a fee and the $15 is still there so it should all work weird

[Nagisa]

just a thought not sur eif its possiable but, maybe find out the exchange rates form your bank? and if possiable get a card ro something to put US currency on it to use on here? xD (again im not sur eif this is possible where you live) i know america and japan has something along this line for other currencys but not sure about Austrila xD

[Roflcopterkklol]

Publicado originalmente por Nagisa:

just a thought not sur eif its possiable but, maybe find out the exchange rates form your bank? and if possiable get a card ro something to put US currency on it to use on here? xD (again im not sur eif this is possible where you live) i know america and japan has something along this line for other currencys but not sure about Austrila xD

would be neat if they would let me store a certain amount in USD i will have to look into that

[Spambot71 (main character)]

If your bank is telling you they don't charge an exchange fee I have a hard time believing that o.O The average in australia is 10.7%. Nab rounds out the low end at 10% and Westpac peaks at 11%. I can't find any listing for banking institutions in Australia that don't charge a foreign exchange fee... Hell ANZ, NAB, and Westpac don't even offer "on the nose" exchange rates, usually screwing you by an additional 4.5%...

I have worked finance for 20 years and I must say you guys pay on the average more than triple the fees we do here in canada for the same banking services...


My advice would be to get a paypal account. Their exchange and online usage fees are WAY better than what you can get from your banks.

[Fuzz <SF>™]

According to the discussion below AUD <>USD exchange rate is not very good atm. One of the posted suggested buying Steam card from EB games. 50 AUD was converted to $35. According to that conversion 15 AUD should be $10.5

https://steamcommunity.com/discussions/forum/1/617329505863230294/?ctp=8

[Spambot71 (main character)]

Did the math manually and got 10.62 for the exchange without a fee and 11.68 with the lower end fees. Based of the exchange and fees charged by NAB

And thats assuming theres no additional "per transaction" fee just for using the service.

[Roflcopterkklol]

Publicado originalmente por Spambot71 (main character):

Did the math manually and got 10.62 for the exchange without a fee and 11.68 with the lower end fees. Based of the exchange and fees charged by NAB

And thats assuming theres no additional "per transaction" fee just for using the service.

Thanks for the info man appreciate it