Why is the Currency Conversion Difference Very high in Paypal??

Discussion in 'PayPal' started by jawahar, May 22, 2009.

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  1. #1
    Hi..
    Does anybody know why is this difference?? I am watching for the past 3 days and the difference is very high!!!

    Pls check the attachment...




    Regs
    Jawahar
     

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    • xe.jpg
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    jawahar, May 22, 2009 IP
  2. lifeplayer

    lifeplayer Notable Member

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    #2
    This is because paypal want to earn money.
     
    lifeplayer, May 22, 2009 IP
  3. jawahar

    jawahar Active Member

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    #3
    lifeplayer: I seriously thought that.. Is a real cheating!!

    I really dont understand!! I am waiting for last 3 days so that I can see the 47.5 mark and withdraw.. but it is not changing.. but xe.com figures keep fluctuating..
     
    jawahar, May 22, 2009 IP
  4. Dhaval1983

    Dhaval1983 Peon

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    #4
    Yes, paypal has its own currency conversion rates. It is different from the standard rates.
     
    Dhaval1983, May 22, 2009 IP
  5. RightMan

    RightMan Notable Member

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    #5
    It appears that paypal has its own currency exchange rate system. It goes down with the market rate pretty quickly but when it comes to the up tick, it chooses to stick to the bottom for a long while! :eek: :mad:

    Regards,

    RightMan
     
    RightMan, May 22, 2009 IP
  6. Moses8595

    Moses8595 Peon

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    #6
    Of course.It needs fees
     
    Moses8595, May 22, 2009 IP
  7. jawahar

    jawahar Active Member

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    #7
    Moses8595: this is apart from the fees !!

    I am getting irriated with the service !!

    But Google Check has the latest rate!! Its good.
     
    jawahar, May 22, 2009 IP
  8. pathiks

    pathiks Peon

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    #8
    Paypal has it's own cut of about Rs.1.5 per dollar. Bloody Thieves!
     
    pathiks, May 22, 2009 IP
  9. jawahar

    jawahar Active Member

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    #9
    Here is the update !!!

    [​IMG]
     
    jawahar, May 23, 2009 IP
  10. needb

    needb Peon

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    #10
    and I am waiting for it to cross 50 :eek:
     
    needb, May 23, 2009 IP
  11. the dopant

    the dopant Well-Known Member

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    #11
    It wont in the near future mate. Rupee is growing stronger by the day. I would suggest you withdraw straight away now that the elections are over and LTTE is done with.
     
    the dopant, May 23, 2009 IP
  12. coolamazer

    coolamazer Peon

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    #12
    Paypal wants to get some money right? After all they are doing business and not charity
     
    coolamazer, May 23, 2009 IP
  13. RightMan

    RightMan Notable Member

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    #13
    OMG.....this is really a very high difference in exchange rate to loose!!!!!

    $ 1.5 less than the general market rate is way too much and PP is really robbing us of our hard earned money! :mad:
    How I wish there was some governing body to address such open loot! :(

    Regards,

    RightMan
     
    RightMan, May 23, 2009 IP
  14. Irfi0009

    Irfi0009 Banned

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    #14
    Its really too high :eek:
     
    Irfi0009, May 23, 2009 IP
  15. hadeedg

    hadeedg Banned

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    #15
    they probably steal from users
     
    hadeedg, May 24, 2009 IP
  16. Luke Beale

    Luke Beale Peon

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    #16
    They want to earn more money and thats one method of doing it.
     
    Luke Beale, May 24, 2009 IP
  17. Fiverscripts

    Fiverscripts Moderator Staff

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    #17
    Wow this is pretty interesting.. But yeh its probs they want to earn more money
     
    Fiverscripts, May 24, 2009 IP
  18. shavin

    shavin Peon

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    #18
    well i don't call this stealing.
    this is pure business. PP is smart. He knows they are very famous and majority people are dependent on it.
    So i does following:-

    PP takes 2.5% of your money.
    Also, it changes the exchange rate once in 2 week

    I just made a withdraw a day ago of 300$ @ rate of 45.88 INR.
    Accept PP as it is, nor u nor any 1 can change it.
     
    shavin, May 24, 2009 IP
  19. fireservice

    fireservice Well-Known Member

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    #19
    As far as i know,

    paypal take approximate 2rs. per $$ for money exchange. [correct me if i m wrong]

    ~jakki~
     
    fireservice, May 24, 2009 IP
  20. jawahar

    jawahar Active Member

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    #20

    Is it?? I have not heard that.. Nor is mentioned in their Fees page!
     
    jawahar, May 24, 2009 IP
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