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How to get my money?

Discussion in 'Business & Tax Advice' started by Scorpion Ghost, Apr 2, 2014.

  1. Scorpion Ghost

    Scorpion Ghost Senior Member

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    Here's the deal.

    I live in a country that doesn't have paypal. I work online as a transcriber and i'm happy to say that i make enough to pay my rent, bills, food...

    Now, the money is paid to me in my paypal account, which is in a different country and in my name. Then that money is withdrawn to my bank account in that country, which is also in my name.

    So far so good, paypal screws me over on the currency conversion from USD fo EUR, but from what i've read there's no easy way around that. And then they charge me like 2 or 3 EUR for each withdrawal i make to my debit card. I can live with these fees...

    And then the money ends up in my debit card... and I need to find a way to get the money from that county, to this country, and use it to live.

    I tried opening a bank account in that country, in the same bank that has a branch here, and then depositing money there and withdrawing here. The withdrawal fee is high, and what's even worse is that i can only withdraw in the local currency, which means that the bank makes the currency exchange fucking me over by giving me a low rate...

    Then I thought, because people i know often come over here, so whenever someone is coming over they can bring me whatever amount i have gathered... Well, i did that, and the first "run" shit got complicated and now i'm sitting here like an asshole waiting for a phone call in a day or two to pick up my fucking money.. pissed off man!!

    So anyway.. I came to ask here because people are like those birds that just repeat whatever they heard.. You know, Croc Western Union, Croc Check, Crock Money Gram... No, No, No, Fees, Fees, Fees, god*****damnit...

    Give me an idea? How can i do it and avoid the fees completely, or at least pay a very small fee per transaction?

    Note: I want to be able to get my money in Euros and then convert it in the local currency through one of the other conversion places that have better rates... I just need to get Euros out of the bank... And I also need Euros to pay rent with them...

    Anyway... Any ideas?

    Would it work if I would deposit the money from my debit card to a gambling site, an on-line casino for example, and then send the money from the casino to a bank account which I would open here locally... That's one idea i got... Although i wonder how "legal" would that be, and if it would even work.

    Thanks guys.
     
  2. heartnet02

    heartnet02 Power Member

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    Here are some solutions:
    1. Try joining a site that offers bank deposit as a form of payment
    2. You will never avoid fees when withdrawing and as you have said, the bank is converting it for you. Did you really check how much difference between the conversion done by the bank and if you will convert it locally? Is it too much to be a concern because how about the fare or time you will be spending to go to a local currency converter? I am from the Philippines and I also have the same concern. If this is your issue, try to withdraw from Paypal only if you will be making a large withdrawal. Example, my bank charges P50 for every withdrawal I make if it is not over $250 dollars, So what I do is withdraw more than $250 and no fee will be collected from my money.
     
  3. Scorpion Ghost

    Scorpion Ghost Senior Member

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    The site where i currently make most of my money pays only through PayPal...

    Yes I checked, the money I would lose from the conversion of $1.000 would be enough to pay my month Electric and Water bills around here and still have some left over...

    The local currency converters are on Every Corner around here... I don't need to go to the local currency converter, i can go to buy milk and simply walk in one on my way there, or really, on my way anywhere, because they're everywhere...

    Well, the issue is not with PayPal. I withdraw from Paypal to my debit card. And i do tend to make larger withdrawals in order to not have to pay the 2-3 Euro withdrawal fee as many times...

    Now after the money lands on my debit card, i can either have someone withdraw the cash for me, or simply use internet banking to transfer the money or something...

    Yeah, but your money lands from PayPal ---> Bank Account, right?

    Mine lands from PayPal ---> Bank Account (in a different country from the one I am in), so i need to transfer that money here, and then go get it from the bank... And sure, it's not a problem for me to ask the bank about the fees information after the money gets here, but how do i get it here? Western Union? Do I simply send it from that bank overseas to an account i will open in a bank here? I know i can do it, but what's the "least costly" way?
     
  4. Scorpion Ghost

    Scorpion Ghost Senior Member

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    Bitcoin is something i've kept out of, i didn't research it, i didn't look into it, but i keep seeing it around...

    Reading now about my problem here i see a solution, but i'm not sure how "reliable" it is?

    Use money (USD) from Paypal to buy Bitcoins.

    Transfer Bitcoins into Euros.

    Deposit Euros to Bank account in the local bank.

    Walk in the Bank and take out my Euros.

    Convert the Euros into the local currency at one of the local currency converter places.

    Simple, but, can this work?


    And now only would I avoid the bank withdrawal and conversion fees, but i would also avoid paypal's conversion and withdrawal fees.

    The only fees left would be USD --> Bitcoins, then Bitcoins --> EUR, and any withdrawal fees that may arise from the transfer...
     
  5. heartnet02

    heartnet02 Power Member

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    Bitcoins can be risky since their values appreciates and depreciates every minute. What country are you from? Why not open a new bank account in your own country and link it to your paypal instead. Are you doing something illegal which is the reason you needed to have a separate bank account?
     
  6. Scorpion Ghost

    Scorpion Ghost Senior Member

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    There's no paypal in my country, as I said. It's not allowed to be used here for accepting money or withdrawing money.

    I work as a transcriber for a company, and a few other minor things like Paid To Click etc... It's all completely legal, i work hard and long hours to make ends meet.

    But I used to live in a different country that had paypal and everything, so my money was arriving nicely there... Now i moved, and i have this issue because where i live now paypal isn't accepted...
     
  7. JasonS

    JasonS Jr. VIP Jr. VIP

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    Why don't you get a payoneer mastercard? It does support over 200 countries and the process is very easy.

    Directly withdraw the funds from paypal to your payoneer card and use it anywhere in the world ATM machine.

    The annual fee is around $30 and per transaction charges is $3.
     
  8. Scorpion Ghost

    Scorpion Ghost Senior Member

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    See, i'd rather avoid using the ATM to withdraw because from an ATM i can only get money in the local currency, and they fuck you over on the conversion.

    For example, if i withdrew $1000 in a month, I would lose around $40-$50 on the conversion in total.

    That's my electricity and water bill right there, plus with some money left over... So the optimal thing would be for me to walk into the bank and take Euros out of my account. And I can do that by opening an account locally and then having money deposited into it...

    Only thing is, how to send that money from another country to this one here, and not get screwed over by the fees...?


    Actually to give money to friends when someone is coming over to bring to me is the way to avoid all that, except that people are fucking unreliable.. Why can't people be more Responsible and Predictable and Reliable? Huh? We could work everything out if that were the case.