What i was wondering is that why these online banks (or whatever would one like to call them) have been denying the necessity of the biz we can easily make out - no bank is perfect, and is 'complete' paypal - open for disputes and charge backs, valid or invalid doesn't matter, not supported by HYIPS moneybookers - again not supported by hyips - can have a charge back on special cases e-gold - no charge backs once send, but to the best of my knowledge we can not withdraw these funds directly to our bank.. there is something special abt all of these bank tough ... the nice n neat chaps r die hard PP fans .. MB scores for it poker and gambling lovers.. n EG rulez the HYIPS n is very popular within currency exchangers... but as we can see none of the following is a 'complete' bank - facility wise ... and there r different ppl ard.with different needs . sometimes we think of investing money in HYIPS, sometimes we like to play poker, n at the end of the day, we all want to convert our online earnings to our local currency so as i see it, the so called currency exchange, has come into practice because of the necessity - the rule is simple, if there is market for something, u got to provide the service.. now if the need is there n there is no 'legal' supply of that service, ppl look out for the 'other' ways - this is but natural ... but what surprises me is that these online banks have just refused to accept this fact... instead of collaborating with each other.. they have declared this practice illegal.. which if u look at normally, is a much ado abt nothing - i need 1 $ for investing in a HYIP, i got that in PP, but PP is not supported by any of HYIPs so i got to look out an alternative... the maths is simple... either we need a 'complete online sources ' which can be used for hyips, gambling n stuff, n is also has a global reach.. plus its directly connected to all the banks of the world ... now this looks too much of an ask... so the more practical way would b if these online banks show some mutual understanding, and collaborate with each other, n we can have a common legal exchanging between them.. i don't get the reason, as to why should they find this that difficult, online money transactions is all they do... so y can't we have a legal way out, y cant PP, EG, MB and other big names join hands and we see a 'legal' mode form where we can exchange and convert all these currencies ... this will be a all win situation : * customer can get what he is looking for * this will minimize money exchange scams as ppl will now directly do exchanges from these reputed bank instead of searching for private brokers... * these banks will obvious make more profit , with the exchanging charges that thy would demand for this service, n customer will be more than happy to pay for any reasonable exchange charge - he is doing that anyways ! this will just make him feel more secure n less guilty ! * we wont feel guilty abt the 'exchanges' anymore and DP will take a deep relaxing breath as well so, what do you say , We are having a pool here, do vote and also feel free to express your views here, cheers !
58 views no replies....i thot DP guys like to discuss.. eh ? I spend an hour to write this at least say 'nice' or' 'u r n idiot ' ...
I would also support a proposal like this. Sometimes when you need a particular currency, it's hard to jump through hoops just to get it so it's easier to just exchange it with others.
First, none of these are banks. Keep that in mind! They are just payment processors, period. Business decisions it seems to not accept from other payment processors. Paypal won't accept from others. Think of the fraud issues, etc.
It is a good idea but I don't see it implemented soon. Payment processors will never allow currency exchanges. That would mean legalizing fraud. Having a bank account/credit card you can sign up with any payment processor you want, fund your account and you will not need any currency exchanges anymore.
not quite so .. first not all of these banks have a global reach, for example PP is in ard 190 countries (i think there r over 350 countries in total) plus it has some send/receive restrictions in more than half of these countries.. another example could be of E-Gold - i don't think we can load funds thru CC there.. can we so the point is the collaboration of these online payment processors would definitely make things better for the customers, and also for these payment processors ! again, my point is , why r they so reluctant abt collaboration with each other when at the end of the day PAYMENT PROCESSING IS ALL THEY DO , and they WILL GET A COMMISSION THIS WAY TOO ! So what is here, that they find hard to understand ? i don't buy the fraud logic.. that's a part of business, frauds always going to be there.. with or w/o collaboration, business cant work without these indispensable insecurities
There is actually about 194 recognized countries in the world http://geography.about.com/cs/countries/a/numbercountries.htm But if you include both countries and territories then there are about 245 of those. http://en.wikipedia.org/wiki/List_of_countries However, in Paypal's lists it shows both countries and territories.