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how can I recieve money in usd without converting into inr

Discussion in 'Business & Tax Advice' started by deepsal, Oct 15, 2013.

  1. deepsal

    deepsal Registered Member

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    Hi,I am from india here paypal converts the money into inr and transfers it to the bank account linked with the id within 7 days which is a pain in the arse because the rupee has fallen by 25% in the past year which is causing me to loose money is there any way I can receive the money without converting into my own currencyWhat are your thoughts on buying paypal accounts to hoard money if that's not possible
     
  2. innozemec

    innozemec Jr. VIP Jr. VIP Premium Member

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    when withdrawing from paypal the money received into your bank account or atm are always in your local currency, there's no way around it
     
  3. cryptons

    cryptons Jr. VIP Jr. VIP Premium Member

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    just store it in ur paypal!
     
  4. iwillnbd

    iwillnbd Regular Member

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    I don't think thats possible.
     
  5. deepsal

    deepsal Registered Member

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    Indians can't store money in their paypal whatever is received is transferred to the bank within 7 days if we need to pay for something we have to link our cc to pp and pay via our cc its fucked up
     
  6. innozemec

    innozemec Jr. VIP Jr. VIP Premium Member

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    lol , and what he will be doing with just storing money in there?
     
  7. newhacker

    newhacker Newbie

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    There is no way to receive money in USD. The only method, which you could have used, was to keep money in PAYPAL itself.
    But after RBI's regulations to prevent money laundering, It is not possible to keep money in PAYPAL account.
    You can not do anything for that.
     
  8. iwillnbd

    iwillnbd Regular Member

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    You can request the payment in the form of a cheque(written in $) rather than paypal.
    That way you can keep the cheques with you for a while and wait till the value of $ rises and then encash it!
     
  9. deepsal

    deepsal Registered Member

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    does anyone know of any other money transfer services which allow to cash out in usd or allows to hold the money?
     
  10. deepsal

    deepsal Registered Member

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    Thanks man will look into it
     
  11. MadStacks

    MadStacks BANNED BANNED

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    You could also open or acquire a PayPal account in another country meaning the money held inside the PayPal account will stay in that
    currency and you do not have the BS regulations on Indian PayPal users. But getting that money in cold hard cash is another step and
    can result in exchange fees.