As I do a lot of sales to Germany I keep an eye on £/Euro rate. Did briefly see 1.21 but definitely not 1.25.
This is from relevent Ebay "help" page -
"If eBay converts your funds, the conversion will be completed at the transaction exchange rate we set for the relevant currency exchange. eBay's transaction exchange rate is composed of a base exchange rate plus a conversion charge. The conversion charge is a fixed percentage applied to the base exchange rate and retained by eBay. The base exchange rate reflects rates within the wholesale currency markets applicable to the currency pairing on the day of the conversion, or the prior business day. If exchange rates are set by law or regulation, the base exchange rate reflects the government reference rates.
If your registered address is in the UK, the seller currency conversion charge applied and retained by eBay is 2.5%."
If Ebay used 1.21 & added 2.5% that comes to 1.24. So probably a slightly loaded exchange rate to start with then another 2.5% gets you to 1.25.
Probably no worse than some banks/credit cards but definitely not the best deal available.
