I know that such services aren't allowed in DP but can anyone please suggest where it can get done. It'd be great if it supports both paypal & alertpay.
It is againts paypal terms to to exchange money, do not trust exchange services that officially accept pp.
PayPal is not an ecurrency, it´s just a payment processor. If you search for exchange of other ecurrencies like e-gold, LR or Pecunix just let me know and I´ll give you some reliable ones. You can also have a look at www.gdcaonline.org, there are all listed with reputation and so on
Stay away from site that say can exchange paypal funds. Thats forbidden by paypal terms and is only a matter of time till their account will get frozen..
Is personal payments allowed in paypal. Or transfers across two persons with out any business trade instead a gift kind?
yes there are many..to make a convenience for the online transactions. But many collect higher % as fee. if you want to exchage money, always paypal get the more credits. I myself have paypal, moneybookers and alertpay accounts. can help if u need.