Bad news for PayPal India and other country users

For Indian users, PayPal has hiked its currency conversion fee from 2.5% to 4% when sending payment through PayPal account.

[The Currency Conversion Fee for Users in Bhutan, Cambodia, China, Federated States of Micronesia, Hong Kong, India, Indonesia, Japan, Korea, Laos, Malaysia, Maldives, Mongolia, Nepal, New Zealand, Philippines, Samoa, Singapore, Sri Lanka, Taiwan, Thailand, Tonga and Vietnam, when sending a Personal or a Commercial Payment, has been changed]

Login into your account and check the "Policy updates" on the right.

 

No worries, you can skip these currency exchange changes and I think you should do this. When you make payment from card, there is one option available using which you can process payment in $$ without exchanging the currency. Let's the currency exchange done from your bank not paypal.

 

oh this is bad

 

This is BAD!

 

This is really bad for me, gotta give extra thousand to paypal per year

 

Why aren't developed and rich countries like United States, UK, Canada, Switzerland, Luxembourg, etc. in this list?

 

where i see this on paypal site?

 

This news is horrible. With all the economic crisis going around the world Indian Rupee is struggling. It has nearly gone to 55 per USD. I dont think it has been ever this way in the past. And now on that 4% conversion fee!!
Paypal is only making it miserable for developing countries..... then they come out blaming the govts policies for their illogical activities. They are only eyeing profits.

 

Very bad, New Zealand seams odd to be in there.

 

you got my word

 

Someone is trying really hard to stop Indians from using a Paypal account ... wonder if it could be our own govt

 

No way....
Its only Paypal which is cashing on the fact that we have very little alternative other than Paypal. India is avery big market and so they are making the most out of it.

 

Best way out of it that you pay from your credit card, that way you can save money on currency exchange.

 

Dude... PayPal HATES the middle east except for Israel... And even with Israel I've heard of so many accounts getting frozen for breaking terms of service.

It's so weird how there isn't an digital currency infrastructure in the area. I don't understand why the US wouldn't want to stockpile the currency of another country...Unless they believe that the value of that currency will drop greatly in the near future.

2.5% to 4% ...That's a 60% increase... ridiculous

 

Our country (Bangladesh) has no PayPal. I have been working for about 6 years online. But never been in the need for PayPal always used wire-transfer. For large amount wire-transfer is good. Also it makes my earnings legal as there are bank statements. Recently I had to lost an opportunity as I didn't have paypal. This change does not affect me.

What I understand is, most of the contractors are using paypal this increase will impact a lot. What about other alternatives? Skrill and AlartPay? its better to popularize them.

 

Ohh.. Its really a bad news for Indians and other countries people..

 

Paypal vs alternatives- The debate's been for years. Somehow, people have always found it convenient to go with Paypal. As for the other thing you mentioned, not a lot of people make big transactions,most of us are small, part-timers so wire-transfer isn't convenient for us.

Yeah, from that angle, I'd have to agree with you. It's high time someone comes up with an effective alternative.

 

I think paypal is giving more and more bad news to the indian users but we have not good alternative of paypal in India so we should follow their TOS

 

u can select an option to bill in U.S.D rather in Inr

 

Slowly and slowly small freelancers are getting less money for their hard work I think its almost doult hike in the fees by the paypal. But we should use paypal as its most used gateway