the conversion rate in PayPal is very less while the actual rate is a whole one rupee greater than quoted by Paypal. the conversion rate in my account is only INR 45.5 while actually it stands at INR46.5
ya, last month i got only 45.2 on my withdrawal.. google (adsense)converts at an extremely good rate compared to paypal.
has it changed much recently. I would think that paypal calculates their exchange weekly or something.
I am aware of it. I read about it in another forum. It is really bad for Indians. I have not yet received any check from paypal as I did not reached 150 limit yet but I also read that often checks sent by paypal gets lost in mail. Did anything like this happen to you?
Cheque's never get lost though they take 20-45 days to reach at your doorstep. Incase you feel that your cheque has got lost or hasn't reached you for more than 2 months, you can request Paypal for a stop payment of the cheque and the amount is creditted back to your account after they charging you some cheque stop payment amount. The exchange rate I got last time was: Exchange Rate: 1 U.S. Dollar = 45.2773 Indian Rupees Currently it is: Exchange Rate: 1 U.S. Dollar = 45.2282 Indian Rupees too low from the market exchange rate!
Yeah. I had experianced paypal problem. Something that in real was 850$ and paypal took 880$ for it. I lost $30.
Remember that on their website they did state a 2.5% exchange rate charge. http://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside states the 2.5% exchange rate charge. Also there is an additional US$5 fees for Indian withdrawl http://www.paypal.com/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside Also bank exchange rates are not always the best compared to the good old money changer. Whatever it is, take it as part of the cost of doing business. Compare the benefits of having a Paypal account as compared without it. Did having a Paypal account help you financially ? If so, there is nothing really much to complain about, their charges are still quite low compared to other payments platform. If they are not benefiting you then find another solution which works better for you.
This is obviously charged when we recieve and we are discussing about the exchange rate when we are withdrawing a cheque. They charge 5$ for withdrawing.
You have to factor that 2.5% exchange charge and whatever exchange rates they use into the equation. Well, I am not getting good rates myself when I withdrawl in Singapore Dollars but hey I am not complaining because without Paypal, I probably would not be able to get those customers in the first place. I try very much to use the Paypal money to make whatever US purchases if able to. Just take it as the cost of doing business.
There's a difference in buying and selling rates for currency and also there's a currency conversion charge, hence the Re.1 to 1.25 difference with the mid-market rates given by www.xe.com I regularly receive paypal checks after 12 days from the check being issued.
Once the check status changes from 'Processing' to 'Check Issued', it should be there at your place in then next 2 weeks. sometimes it can take longer, but this is the normal duration.
ohh.. my one check got soaked in the rains last year, had to ask them to reissue it. cost me $15 for cancelling it
I think all these charges/fees are part of the business cost, and there is nothing much we can do about it .