If you check the 'Fees' page http://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside , it will tell you that there is a 2.5% foreign exchange rate. If you are from the UK, you can set to receive payment in UK pounds from your customers so freeing you from the foreign exchange fees.
I am waiting to withdraw check thinking dat exchange rate will go up but it is going other way.I think its time for me to login to my paypal,what do u say?
If you really need money then go for it. Don't think so that it'll up more in a month or two. It's my openion jimmy. Afterall final decision is yours
So you want them to make a loss instead ? They are just taking a small percentage to cover all their costs to providing you your money. If you want to blame, blame it on the banks and the foreign exchanges.
yup. I agree with eddy2099 If PayPal would close down, how would you get your money, wire transfer and pay $100 in fees every $1500? of MB whom I sent withdrawal requests and money never arrived. e-gold arent enough good to be completely take place of PayPal.
If you are referring to Google Adsense, they are already making a huge percentage from the Adwords Advertisers so they could offer you some attractive rates. If I recall correctly, Google is making something more than 60% from Adwords advertisers and as an Adsense publisher, you are getting a very small percentage of the remaining amount. Paypal on the other hand would need to pay for all the fees levied by the banks and other operating charges from the 2.5% foreign exchange fees. In the end, they may only be making under 1% from there. Different banks would have their own exchange rates and they can vary from bank to bank and from hour to hour. I supposed this is your first exposure to international trade and commerce. Businesses will only offer their services if they can cover their costs and Paypal is no different. If you think the fees are too high for you then just raise your own prices as in the end, your customers would be the one paying for it. Put yourself in Paypal shoes and compare how much they are supposedly making from you as opposed to how much you are making from your customer.
Google takes only around 20% of Adsense revenues (according to their quarterly result reports.) Paypal is already deducting commissions when account holders accept money into their accounts. (Most big transactions are done by Premium account holders.) Both Paypal and Google have their checks issued from same bank in India - Citibank. Unlike Google, where it has to do actual transactions at every level..Paypal has a big chunk of its transactions done just as an accounting entry...going from one Paypal account to another Paypal account.
Don't each transfer involved a computer entry so there is going to be utility fees, salaries and all such of fees involved in getting one transaction done, above and beyond that, there is the risk of fraud in which it needs to factor into. There is a lot going on at the back office. If you do not like what Paypal is doing in terms of fees then find another service which could fit your pricing model or better still, just do it yourself.
That's where the problem is... there is no competitor big enough to challenge Paypal. It is more or less a monopoly. In future if other big players enter online payment solutions market, Paypal may be forced to reduce its commissions. Competition is always good for the consumer. Something similar has happened in Indian financial markets. A decade back stock brokers used to charge around 2-2.5% brokerages. Today there is so much competition that rates have fallen to as low as 0.1% and intraday rates are as low as 0.001% ...something that was unthinkable just five years back.
I withdraw money from an ATM when I am overseas. My bank gives me an excellent rate, but then charges 1% foreign exchange fees. My guess is that PayPal only gets to keep part of those fees they charge. I'm lucky where I am now, because I'm not being charged ATM fees on top of everything else. Looks like it's back up over 40, though. I checked xe.com.
I M also waiting for it and if this will happen , indians will bomabred there technolgy to the world.