What the fuck is wrong with Paypal?

[RamChaturvedi]

Ever heard of BUY Rate and SELL Rate? :willy:

 

[souleclipse]

What is wrong with you ?

PayPal Earn through a certain %..
Then you go through the bank... bank take a certain percentage as well..

PayPal is not bank... PayPal is a payment processor...

 

[Wilson Grant Fisk]

This is standard practice.
The foreign transaction fee is probably set using the Exchange rate of a major bank and then a % added on top.

https://www.paypal.com/us/cgi-bin/marketingweb?cmd=_display-xborder-fees-outside
https://www.paypal.com/webapps/mpp/paypal-fees

If you search Google you can find ways to minimise it.

 

[abradabra]

This is how it is everywhere. Banks sell $ for x amount and buys for less amount. Sellers sell gold for high amount, buy for less. You have a choice, use Paypal or ....

 

[jak19]

wow 15 years of paypal then this thread

 

[santhej]

Make sure to convert your funds into currency you are going to use for transfer before you do an actual transfer. Paypal takes additional fee for transactions if source currency is different to destination currency and probably amount of this fee may differ depending on the type of the transaction.

how is this done

 

[Paranoid Android]

how is this done

Just try converting usd to gbp and back some 27 times, and you will find your paypal balance become 0. Each conversion costs 3.5 to 4%.

 

[pokerjunky]

If you're selling you're services for dollars and also paying for things in dollars why not just leave the money in your paypal account and use that money to bankroll your business dealings? Seems better than cashing out to and from your bank and having to pay exchange fees every time.

 

[lover]

If you're selling you're services for dollars and also paying for things in dollars why not just leave the money in your paypal account and use that money to bankroll your business dealings? Seems better than cashing out to and from your bank and having to pay exchange fees every time.

With Indian accounts, you cannot use Paypal balance to pay for other services. Payments can only be done via Credit Card.

 

[Smirad]

If you're selling you're services for dollars and also paying for things in dollars why not just leave the money in your paypal account and use that money to bankroll your business dealings? Seems better than cashing out to and from your bank and having to pay exchange fees every time.

This seems like a good alternative. Or if you also deal in Rs then how about using Paisapay instead?

 

[santhej]

If you're selling you're services for dollars and also paying for things in dollars why not just leave the money in your paypal account and use that money to bankroll your business dealings? Seems better than cashing out to and from your bank and having to pay exchange fees every time.

For Indian User's this is not just possible.You can only user money from your credit card.first you have to transfer the Paypal balance to Bank account and then send the payment from the Bank account

 

[santhej]

wow 15 years of paypal then this thread

Sorry i was playing with teddies when Paypal started

 

[tooslim]

i just called these Paypal people..they were telling me that if you are sending money they will be charging 3.5% from the normal converted amount..totally unfair...i really hope some reall good alternative for paypal comes up

Ƀitcoin.






my post requires 15 characters so yea...

 

[prab1996]

lol , this is how paypal works in indian , you will have to accept it because there is no alternative.
if you are in serious money then get service like 2CO.
-=-

 

[trish1]

Same is the case with me mate... but its okay we can't imagine business without paypal as most of us still preffer pp,

but some times paypal forget to charge pp fee to my INDIAN account it happened me for few transactions of $140, $100 ... i received full payments , paypal didn't charged me the fee hope they do it for every payment i receive

 

[Nut-Nights]

Paypal is a gaypal. Paypal is a bad company they love stealing others money. I wish they will go in hell.

 

[REAL EMAIL ID]

Who told you guys you need credit card to pay payment via paypal ?
Look i pay payment for proxy provider without credit card .

 

[REAL EMAIL ID]

Same is the case with me mate... but its okay we can't imagine business without paypal as most of us still preffer pp,

but some times paypal forget to charge pp fee to my INDIAN account it happened me for few transactions of $140, $100 ... i received full payments , paypal didn't charged me the fee hope they do it for every payment i receive

Such a lucky ass

 

[srb888]

Paypal is a money dealer, and so it will add or subtract values from the currencies to allow them a profit margin in the transaction(s) involved.. Even banks take their profit margins, so their (PP/banks/forex dealers) exchange rate almost never matches the actual / real effective exchange rate, which also depends on many types of averages involved...

Ref.:

http://en.wikipedia.org/wiki/Exchange_rate

Quote:
In the retail currency exchange market, a different buying rate and selling rate will be quoted by money dealers. Most trades are to or from the local currency. The buying rate is the rate at which money dealers will buy foreign currency, and the selling rate is the rate at which they will sell the currency. The quoted rates will incorporate an allowance for a dealer's margin (or profit) in trading, or else the margin may be recovered in the form of a "commission" or in some other way. Different rates may also be quoted for cash (usually notes only), a documentary form (such as traveler's cheques) or electronically (such as a debit card purchase).

Everyone is having their own margins, and the common man never gets the real exchange rate. That's how general commerce works. You'll never see a 10%, 25%, 50%m 99%!!! discount sales happening in this foreign currencies exchange fields though.

One either takes it or leaves it, and finds another money trader/dealer. Unfortunately, PP will never allow others to take the top spot, and others will never ever give you those discounts too. As the saying goes, they are all naked in the Hamam (a bath/toilet/Turkish bath)! To get a better than PP rate, ask the sender to do an online bank to bank transfer, and get the best rate of exchange. It will be far more than what PP will give you.

 

[Thebankercr]

That is way I dont do payments via Paypal, not a very good company