PayPal started Bank Transfers in INDIA

Discussion in 'PayPal' started by Abhik, Oct 30, 2007.

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  1. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #301
    Agree with you on your 2nd point.

    Regarding 3rd point see below given calculation.

    Suppose you want to withdraw $200. If you go through xoom then you have to pay them 209.99$ for that so you'll get 7782 INR for 209.99$ (7412 INR for your 200$). If you go through Paypal then you have to pay them 200$ for that and you'll get (7604 INR for your $200).
     
    deluxdon, Nov 6, 2007 IP
  2. izeaus

    izeaus Banned

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    #302
    nice Calculation . I would certainly go with transfer this time from Paypal
     
    izeaus, Nov 6, 2007 IP
  3. cashtaker

    cashtaker Peon

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    #303
    hi guys, where to check the current paypal exchange rate for USD to INR?
     
    cashtaker, Nov 6, 2007 IP
  4. agnivo007

    agnivo007 Peon

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    #304
    PayPal charges a flat 2.5% currency conversion charge on USD > INR.
    Also, PP exchange rates are updated once daily.
    It might also be possible that PP and Xoom fetch the base exchange rates from different sources.

    So, if Xoom charges low conversion fees, chooses different source for conversion rates or updates rates more than once a day, there has to be a difference.
     
    agnivo007, Nov 6, 2007 IP
  5. it career

    it career Notable Member

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    #305
    but 10$ = 380 rupees + 7412 = 7792 rupees
    So paypal is giving 10 rupees extra for $200 :D
    Correct me if I am wrong.
     
    it career, Nov 6, 2007 IP
  6. srijaga_cbe

    srijaga_cbe Peon

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    #306
    Any Indian DP members using Paypal in their business(company) name and receiving to their business(current) account?
    Any charges for receiving NEFT/RTGS transfer. for both SB account and Current account?
    Pl post ur exp. using & receving Paypal Business name account
     
    srijaga_cbe, Nov 6, 2007 IP
  7. sangs

    sangs Well-Known Member

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    #307
    I am really confused.
    Please suggest which is better -
    Xoom
    OR
    Indian Bank Transfer ?
     
    sangs, Nov 6, 2007 IP
  8. lavista4u

    lavista4u Member

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    #308

    Dude..if you have above 1000 USD to transfer then i think you should go for Xoom as their exchange rate is better at the moment...however, if its below 1000,..it would not matter much....you can use any transfer service and more or less you would end up with the same amount.
     
    lavista4u, Nov 6, 2007 IP
  9. anteclimax

    anteclimax Active Member

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    #309
    I know that they state that you recieve your money in 4-5 days but what is the actual time seen by people?
     
    anteclimax, Nov 7, 2007 IP
  10. inworx

    inworx Peon

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    #310
    If you're complaining about fees, then you need to earn more before you want to withdraw.

    PayPal deserve this fees, considering the fact they're legally payment processor and have such majority of options and not to mention, other features like Send Money, Receive Money...

    IS there anyone else this can be compared? Xoom? Any Bank? no...you cannot find any. Thats the reason Paypal is growing.
     
    inworx, Nov 7, 2007 IP
  11. rootinfosolutions

    rootinfosolutions Guest

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    #311
    thanks for the Pay Pal updates......!!!
     
    rootinfosolutions, Nov 7, 2007 IP
  12. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #312
    I think you need to check that calculation properly it career :p

    Ok lets do it this way.

    If you pay to xoom $209.99 (including fees) then you will get $200 x 38.91 INR = 7782 INR.

    at the same time

    If you pay to paypal $209.99 (including fees - no fees there ;)) then you will get $209.99 x 38.02 INR = 7984 INR

    Hope you now understand this :)
     
    deluxdon, Nov 7, 2007 IP
  13. Abhik

    Abhik ..:: The ONE ::..

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    #313
    Oh great..
    that means if you are withdrawing a huge amount, using XOOM is a better option.
     
    Abhik, Nov 7, 2007 IP
  14. lavista4u

    lavista4u Member

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    #314
    alipay.com...which is started by alibaba.com is 10 times bigger than PayPal...but its just that...they are into manufacturing and we here in India are more into the western oriented services....what PayPal offer's is nothing big or innovative..kayak.com has more complicated software than paypal for airlines booking..its just that paypal is dominant in America and we are more tuned into its services..can you believe they even charge for donation to wikkipedia

    alipay.com is completely freeeeeeee..for send and recieve money..except for the bank charges for withdrawing..its free...whats the catch..no catch..its a free services for auction site taobao.com and alibaba.com in China..same as in ebay.com..

    Jack Ma has big plans for India and soon the services will be offered in all throughout asia and then in US...the very reason..paypal came into its senses was the threat from free payment processors like alipay.com..

    paypal is non existant in China..

    The moment any companies goes bigger..they start to bully ...

    now what most of us does is...simple explanation...if you don't like it..don't use it mantra..no one is forcing you to use it etc....this is just co-orporate america showing its full teeth..once they have a monopoly..they would get away with any hike in fees..is it fair???
     
    lavista4u, Nov 7, 2007 IP
  15. hexadesigns

    hexadesigns Peon

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    #315
    Just to tell you guys - I did my first bank transfer through Paypal - it took 2 days and it was just cool! :D
     
    hexadesigns, Nov 7, 2007 IP
  16. muthukswamy

    muthukswamy Active Member

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    #316
    Hey friends,

    I just designed a calculator to compare the amount you get in Paypal and XOOM when you withdraw. I have attached the spreadsheet file here. Just let me know if you find some errors in the formulas.

    Use it and distribute to the needy. Comments are welcome.:D

    Happy Earnings, Happy withdrawing as well and not to forget " Happy Diwali ":)


    Edit: Forgot to mention. Its a printer friendly version. :)
     

    Attached Files:

    muthukswamy, Nov 7, 2007 IP
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  17. dotcompals

    dotcompals Prominent Member

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    #317
    gr8 sheet man... thank u..

    If you are withdrawing $670 or more use XOOM
    other wise paypal withdrawal option is better.
     
    dotcompals, Nov 7, 2007 IP
  18. MeetHere

    MeetHere Prominent Member

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    #318
    For few more bucks i will not suggest using Xoom bcoz of lots of issues.
     
    MeetHere, Nov 7, 2007 IP
  19. dotcompals

    dotcompals Prominent Member

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    #319
    Can you tell us what are those issues please..
     
    dotcompals, Nov 7, 2007 IP
  20. MeetHere

    MeetHere Prominent Member

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    #320
    MeetHere, Nov 7, 2007 IP
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