Paypal Cheating Indians for payments via currency Conversion?

Discussion in 'PayPal' started by ~~~~, Dec 19, 2011.

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  1. #1
    Did a transaction for USD 27.00 through my Credit Card and the currency rate was 54.xx Rupee per Dollar
    I know the Bank charges 3.5% conversion fee, but even then 54 is kinda high compared to the current rate?

    Is it that I should get another bank's card?
     
    ~~~~, Dec 19, 2011 IP
  2. sachin410

    sachin410 Illustrious Member

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    #2
    Have you checked USD/INR rate?

    Currently USD is at Rs 52.95.

    Add 3.5% and you get Rs 54.80.
     
    sachin410, Dec 19, 2011 IP
    ~~~~ likes this.
  3. ~~~~

    ~~~~ Well-Known Member

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    #3
    Oops, my bad then.
    Does anyone know any bank/card that doesn't charge the currency conversion charge? or atleast 1-1.5% charge?
     
    ~~~~, Dec 19, 2011 IP
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  4. dir18

    dir18 Active Member

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    #4
    If you send money from Xoom: USD to INR you will get money at current exchange rate(or at-least higher then PayPal) so I think 3.5% fees is only apply to PayPal ... hahhaha..
     
    dir18, Dec 19, 2011 IP
  5. Card

    Card Well-Known Member

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    #5
    See,all banks charge same currency conversion so that there is no point if you take any banks card :)
     
    Card, Dec 19, 2011 IP
  6. karthimx

    karthimx Prominent Member

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    #6
    You don't have any other choice if you choose to pay via paypal.
     
    karthimx, Dec 19, 2011 IP
  7. coolu

    coolu Active Member

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    #7
    all bank credit cards have the same charges of 3.5 % there is no point takeing any others bank card
     
    coolu, Dec 19, 2011 IP
  8. ~~~~

    ~~~~ Well-Known Member

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    #8
    Were you drunk or asleep while making this post!?
    Did you even care to read what my query was!?
     
    ~~~~, Dec 19, 2011 IP
  9. warnor

    warnor Active Member

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    #9
    I think pay pal is the best option in compare to others...All banks work under the policy of RBI so there's no option to get another bank card.
     
    warnor, Dec 19, 2011 IP
  10. killerz

    killerz Peon

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    #10
    All banks charge a foreign currency conversion fee of 3.5% in india and further about 12.5% on the fee amount. If you regularly make payments via paypal then you could find a person having spare funds in his paypal account, transfer some amount to ur paypal, it should cost less this way.
     
    killerz, Dec 20, 2011 IP
  11. olddocks

    olddocks Notable Member

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    #11
    olddocks, Dec 21, 2011 IP