No, they are not. They are using their bank's conversion rate and then tagging the 2.5% foreign exchange fees which they listed clearly in the Fees section. The US Dollars and Canadian Dollars are almost par and the 2.5% foriegn exchange fees puts it at a disadvantage. https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside&countries=CA
I'm in the same boat. Every time I withdraw funds from my PayPal account (in US dollars) to my Canadian bank account, I end up with less money than I was expecting, I guess because of that extra 2.5% they charge. PayPal takes money from you every chance they get. It's always small amounts or small percentages, but it adds up. It's a strange world we live in when giving you access to your own money has become big business.
thats how paypal can stay in biz lol I believe its only time before Google Checkout takes out Paypal.. Once paypal starts to become limited, ebay.com will take the hit too and there it will go down as well.. soon that chinese ebay like site will take over..
Yeah I convert dollars into British Pounds and I know the exchange rate will be lower than I can get elsewhere. My credit card has a better rate, but I still prefer paying by PayPal. I look on the bright side here though: if I pay via ClickBank - even going thru PayPal - those gits stick 17.5% VAT on top, which is way worse. The time when you really notice PayPals meaness though is withdrawing into your account. With the poor exchange rates and the fees it's usually well below what you'd expected. Aren't they supposed to be holding payments from ebay for a certain period now, in case they have to refund or something. Can't say I'm thrilled about that and it's put me off selling on ebay, which I planned to do.
guys I dont know where is there currency converter can anyone tell me whats the current , Paypal USD to INR (indian currency) rate Thanks so much Regards CB
Fee Conversion. It's just how it works. Otherwise they'd be providing a free service for something they have to pay for.
where ? I am too dumb to find it pls give me some instructions of a sample screenshot of it , where its located as my account is indian, and my default currency is USD will it make any problem ?
can some one get me a screenshot or stuff of Paypals current currency exchange rates ? I wanna know, when I transfered the paypal USD money to my bank account (into INR , indian currency_ what rate would be applied
PayPal Login Needed for the above link. But you can exchange it live on http://free.abzarha.com without login to paypal
Okay so I'll show you where. Use this way to browse. Login> My Account> Withdrawal> there is a small font link "currency converter" near the text box where it asks for the amount you want to withdraw .. you can click on it and convert to your heart's fill and then browse away from the page.. you don't actually need to withdraw. You can also put the words "PayPal currency converter" in Google. I bet it will throw up several links which you can use to convert the currency without even logging in to ur account !!
You would get to the screen where the information is available only after you setup your bank account details within PayPal. Once that is done, follow the instructions provided by confused_freelancer