help me I'm a newbie

Discussion in 'PayPal' started by mavmaverick, Jun 8, 2014.

  1. #1
    Hey guyz, I'm a newbie to PayPal and I have many doubts. Firstly, I'm from India so obviously I'm having Indian debit card, is it compatible, secondly, I am gonna recieve payments in USD, so will it stay in USD or get directly converted into INR, if no, then can I keep the USD in my PayPal account, because I'm gonna use it to but some laptops overseas. Lastly, if it gets converted into INR, then can I buy things priced in USD with my INR. Thanks.
     
    mavmaverick, Jun 8, 2014 IP
  2. shemseddine

    shemseddine Active Member

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    #2
    I think when you apply for paypal, when you get to choose your currency, if you chosen INR, the money will be converted into INR if you receive it via other currencies. But you can still buy stuff with USD but then paypal will convert it from INR to USD. The conversion rate is determined by paypal I think.
     
    shemseddine, Jun 8, 2014 IP
  3. mavmaverick

    mavmaverick Active Member

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    #3
    Thanks for reply but are you sure
     
    mavmaverick, Jun 8, 2014 IP
  4. mavmaverick

    mavmaverick Active Member

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    #4
    Will the exchange rates be current or defined with tax??
     
    mavmaverick, Jun 8, 2014 IP
  5. shemseddine

    shemseddine Active Member

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    #5
    I'm in the UK and when I buy things from a US account, it always converts it. So I'm thinking it will be the same.
     
    shemseddine, Jun 8, 2014 IP
  6. INDIAN123

    INDIAN123 Well-Known Member

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    #6
    Your answer -
    1 . INDIAN DEBIT CARD NOT WORKING IN PAYPAL. ONLY CREDIT CARD WORKS .
    2. U CANT OPEN INR BALANCE IN PAYPAL . YOUR BALACE WILL CONVERTED IN TO INR WHEN YOU WITHDRAW YOUR FUNDS TO BANK ACCOUNT.
    3. YOU CANT USE PAYPAL BALANCE ( TO SEND SOMEONE OR BUY ANYTHING ) YOU CAN ONLY WITHDRAW IT TO YOUR BANK ACCOUNT .


    I hope U get all your answer .
    thanks.
     
    INDIAN123, Jun 8, 2014 IP
  7. mavmaverick

    mavmaverick Active Member

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    #7
    Hey, I think you didn't get what I was asking for,

    Here are my responses to your reply
    1) PayPal accepts debit cards
    2) I am gonna recieve payments in USD so will they automatically convert or stay in USD until withdrawn.
    3) by PayPal balance, I meant to say those dollars above, that were not converted

    But I'm still confused
     
    mavmaverick, Jun 9, 2014 IP
  8. Vivek Nanda

    Vivek Nanda Member

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    #8
    Here are my responses to your reply
    1) PayPal accepts debit cards:- debit cards do work, but most have reported that debit cards only from ICICI bank seem to be working. Read this forum thread - https://forums.digitalpoint.com/threads/what-indian-debit-cards-are-getting-accepted-by-paypal.2668572/
    2) I am gonna recieve payments in USD so will they automatically convert or stay in USD until withdrawn.:- they will be automatically converted to INR. PayPal will also charge a currency conversion fee. They claim it to be 2.5%, but I have often noticed it to be around 3.25%
    3) by PayPal balance, I meant to say those dollars above, that were not converted:- paypal balance will be in USD. it will be the transient daily balance that will be auto-withdrawn every night. You can't make payments using that balance, it is only meant to be withdrawn. If you wish to buy stuff and make payments via PayPal, then you would need to use your credit or debit card.
     
    Vivek Nanda, Jun 9, 2014 IP
  9. mavmaverick

    mavmaverick Active Member

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    #9
    Hey I have a question, say if I add a debit card in PayPal account, will someone else be able to take out money from it without my permission and like if link bucks sends me some dollars and I want to recoieve in USD, then what should I do???
     
    mavmaverick, Jun 13, 2014 IP
  10. humtuma

    humtuma Notable Member

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    #10
    -) USD will be converted into INR at the time of receiving.
    -) It may be possible to take out your money without your permission.This is your responsibility to protect your paypal account.
     
    humtuma, Jun 13, 2014 IP
  11. mavmaverick

    mavmaverick Active Member

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    #11
    I mean they ask for my PayPal account number or PayPal email, is it safe to give out
     
    mavmaverick, Jun 13, 2014 IP
  12. Vivek Nanda

    Vivek Nanda Member

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    #12
    There is no paypal account number.
    Accounts are tied to email addresses and yes, you would need to give them to the person who wants to transfer the money over to you.
     
    Vivek Nanda, Jun 14, 2014 IP
  13. laicen

    laicen Greenhorn

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    #13
    I think in india there are some restrictions with paypal. A lot of my internet marketing friends are having problems with paypal. So i don't know if in india can be an alternative to paypal, you can try skrill or paxum, i think will work better.
     
    laicen, Jun 14, 2014 IP