Indians Attn: Which Has Lower xchange rate paypal or Wire (HDFC, SBI)

Hi Dp'ers,
1. I have verified paypal account, I usually recieve money in my paypal & withdraw the money in bank account(HDFC), This time I planned to recieve money by wire, My questions who offer excellent rates....bank or paypal

From my 7-8 month experience, i found paypal will offer less than 1.5-1.75 rupees against US$ in the particular day
EG: Say today Rate is 48.01, then paypal will offer 46.52 INR
If i withdraw through bank can i get better rates than paypal say 46.53 & above....Any experience.....

2.Also if anyone got wire transfer, Please share this additional info, How many rupees you received less when compared with original rates of that particular day.....( How may rupees bank will detect usually against us$ wire transaction)

3.Who offer better SBI OR HDFC against USD when advertiser wired


Looking for your valuable reply...

 

Paypal charges 3.5% as Currency Conversion Charge thats why its lesser.

You can check HDFC's conversion rates @ hdfcbank.com/personal/forex/currates.asp

For wire transfer its 1 USD --> 47.55 INR

But Paypal offers the withdrawal option free of charge whereas you will need to pay about 20$ for an International Wiretransfer so unless the amount is very high Paypal will be better.

 

Hi,
Paypal wont charge me any fees, since the network pay by mass payment mode, I i am voer 1000$ so there is no wire fee as well...

 

You are right. By withdrawing via wire we get more exchange rates than paypal.

 

paypal take 2.5% for convetion fees so wire is best option

 

Hi,
Thanks for posting all of your comments, I found SBI is better option to go with, followed by ICICI, HDFC....., I found there is 1-1.25 INR difference between SBI & Paypal,so for 1000$ i would loose around 1000 rupees,Just searching for a Online today
http://indiarealestatemap.com/irmv2/index.php?action=page_display&PageID=6 shows real time rates of ICICI , SBI..Remit2india
http://www.hdfcbank.com/personal/forex/currates.asp

but today paypal rate is 46.47 rupees against UD$ , SBI gives 47.71$$.......

Always Indian banking system is Best & Cheers.............

 

^ You need to consider to cost of Wire Transfer which in most cases is NOT free like in paypal. So if the amount is not very big Paypal will be better imo.

 

Paypal... depends how much are you withdrawing...!!

 

This appears to be really a good option for people who withdraw funds in bulk. It is always good to have better and highly beneficial option but the problem is, not many Indians would be willing to wait to accumulate $ 1000, to withdraw!

Regards,

RightMan