Paypal currency exchange rate - rip off our money

the exchange rates of currencies are pretty low than the market price.

do you have this feeling?

 

If you have not taken the time to view Paypal fees, it specifically mentioned that there is a 2.5% fees for foreign exchange which is incorporated in the exchange rate.

Besides exchange rates varies from banks to banks and different countries. You probably could get better exchange rates when converting US$ to Indian Rupees in India then trying to do the same in the US. It all depends on supply and demand.

 

Yes rates are always lower than the market price.

 

I tihnk it is normal, if you go to exchange money in a bank you will be ripped in the same way. If there werent fees paypal wouldnt exist.

 

if you think paypal fees are high, go to WU

 

yes, 15$ fee for a sum of 0-100$ and 23$ for 100-200.

 

Yeah it is. Paypal trying to make some money

 

I have used paypal for over 6 years now, they do have fees here and there but if you use your Paypal debit card for everything you get like 6% cash back every time you use it, so you get a good rate for using your own money, now do you see WU doing this? Hell no they want to charge you $20 for every small transaction, they are nuts.

 

I got it. 2.5% charge explains that why I got less money than expected.

 

Well they make money from this. Even in India US$ to INR is 40 Rs up but paypal doesn't give more than 39 rs.

 

Atm.. Paypal has a higher side of exchange rate!

Xoom: US$ 1.00 = INR 39.2966

Paypal: 1 U.S. Dollar = 40.2700 Indian Rupees

 

Not aware of the impact of exchange rate has on withdrawal from paypal before, because my paypal money often spend on hosting expenses and other online purchases.

 

Well, frankly speaking, I always associate paypal with high fee rules. They also have this cross border fee which is disgusting.

 

Yes paypal sucks after you figure the fees for receiving payment then converting to your local currency. And i have to do it often. I just wish the Thai baht would get back up around 40 to 1 US like last year. Paypal must make tons of money from the 2.5% alone.

 

but now the exchange rate has reduced to 1$=39.35Rs
so how much paypal must be giving.............37 i guess

 

looks like the market shaking again.. $ still goes down against INR

 

yes right now the exchange rate is INR 42.xxx

 

Well.. guys.. They do need to make a living like all of us. So maybe you can't call it as rip off

 

Oh really? Paypal converts USD-INR@41.5 whereas the market rate is over 44!