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Money bookers account currency - INR or USD - Which one to choose? Please help

Discussion in 'Payment Processing' started by estimacs, Mar 6, 2010.

  1. #1
    I have been using Paypal for some time and I tried to open MB account. I chose INR as my currency as I will be transferring money to my bank account. Now, I am worried whether I should have chosen USD because from freelance websites and from my clients, I will receive payment in USD. I haven't initiated any transaction and hence, I can change account currency once.

    Can someone tell me which currency is better for Indians INR or USD? I mean, which one will save conversion fees?
     
    estimacs, Mar 6, 2010 IP
  2. jhn2001

    jhn2001 Active Member

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    #2
    I have chosen USD am from india .This isnt really a big problem .Even i want to knw about conversion fee .
     
    jhn2001, Mar 6, 2010 IP
  3. estimacs

    estimacs Peon

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    #3
    Have you withdrawn money to your bank account? I want to know about the conversion fee charged when you withdrew.
     
    estimacs, Mar 6, 2010 IP
  4. jhn2001

    jhn2001 Active Member

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    #4
    Yes i have withdrawn several times ...Moneybookers charge 111 rupees per transaction and once money is in your bank account they charge you 90 rupees so a total of 200 rupees per transaction :)
     
    jhn2001, Mar 6, 2010 IP
  5. estimacs

    estimacs Peon

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    #5
    Do you suggest me to convert my currency from INR to USD? Are any proofs required for changing the currency? I have verified my email address, mailing address and I have just added my bank account information.
     
    estimacs, Mar 6, 2010 IP
  6. jhn2001

    jhn2001 Active Member

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    #6
    No not required i think .I dont think it matters because when you withdraw money to your bank account you will be only left with the option of INR .Keep it same and may be you can check on the conversion fee ;)
     
    jhn2001, Mar 6, 2010 IP
  7. estimacs

    estimacs Peon

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    #7
    Thanks for your reply. I will keep it INR itself.
     
    estimacs, Mar 6, 2010 IP
  8. jhn2001

    jhn2001 Active Member

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    #8
    My pleasure also dont forget to update this thread if you find any value for money by keeping Default as INR .cuz i have it as USD .if thats profitable ill change mine to INR lol .
     
    jhn2001, Mar 6, 2010 IP
  9. dhpd22

    dhpd22 Peon

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    #9
    to the OP I suggest you to keep it in USD bcz it is beatifically for you. I m with moneybookers from past 2+ years. Keeping your currency as USD help you to save money in exchange rates. bcz you ll get great exchange rates at your local bank.

    However starting 2010 intermediary banks started charging $15 for each withdraw from moneybookers to your local bank. So the total fee will be 1.80 Euro + $15

    Hope it helps.
     
    dhpd22, Mar 6, 2010 IP
  10. jhn2001

    jhn2001 Active Member

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    #10
    bank charges 15$ ? What country are you in ? lolz
     
    jhn2001, Mar 7, 2010 IP
  11. dhpd22

    dhpd22 Peon

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    #11
    I m in India.
     
    dhpd22, Mar 7, 2010 IP
  12. dhpd22

    dhpd22 Peon

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    #12
    and I said INTERMEDIARY BANKS. READ CAREFULLY BEFORE REPLYING.
     
    dhpd22, Mar 7, 2010 IP
  13. indian_seo

    indian_seo Peon

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    #13
    No matter which currency you select... their transactions are based on Euro...
     
    indian_seo, Mar 7, 2010 IP
  14. dhpd22

    dhpd22 Peon

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    #14
    don't spread rumors you azz hole. If you have no idea why you throw posts? I don't think you even have a Moneybookers account.
     
    dhpd22, Mar 7, 2010 IP
  15. samser_m

    samser_m Active Member

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    #15
    ok, I was thinking to change from INR to USD... remember after first transaction (probably withdrawl transaction) we can not change currency.
     
    samser_m, Mar 7, 2010 IP
    jhn2001 likes this.
  16. jhn2001

    jhn2001 Active Member

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    #16
    Oh lol so it means i cannot change it any more ?
     
    jhn2001, Mar 7, 2010 IP
  17. jhn2001

    jhn2001 Active Member

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    #17
    Well hes partly correct . When i withdraw money in my bank account they do convert the money into Euro and then again convert it to INR .
     
    jhn2001, Mar 7, 2010 IP
  18. samser_m

    samser_m Active Member

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    #18
    yes can not
     
    samser_m, Mar 7, 2010 IP
  19. sweatlana

    sweatlana Well-Known Member

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    #19
    hello,
    can we withdrawal USD in Indian bank accounts ?
     
    sweatlana, Mar 7, 2010 IP
  20. dhpd22

    dhpd22 Peon

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    #20
    lol No you can't withdrawal USD in Indian banks. However you can get USD in Indian banks and they ll offer you great exchange rates and you can withdraw your money only in INR. :)
     
    dhpd22, Mar 7, 2010 IP