Recently I withdraw Indian Rs.7000 from paypal. Paypal gave me very less amount. Current market Value of $1 = Rs.49 paypal giving $1=Rs.46 Why they are giving less. is there any option to get current market value???
They charge you for currency conversion. If you directly withdraw to US bank account you wont be charge a single penny. If you need any further help let me know that.
You are right, Paypal will keep earning from you in the currency conversion process. Frankly speaking, you don't have any say on this.
Paypal gives about 1rs less than the current market rate You can see market rate at google always http://www.google.co.in/#hl=en&q=1+USD+in+INR&btnG=Google+Search&meta=&aq=f&fp=182549404d67aa9
Can't you withdraw USD and let your bank do the conversion instead of paypal? When I do this I actually get a little bit more for my dollars than the market rate.
Even if it isn't allowed in your country, paypal acts like it transfers file to your bank. They decide what the rate would be (in this case a few Rs less to gain some profit) and then your bank gets the amount paypal sends.
They work as money changer, and they earn little bit through the money exchange. Not suggest to exchange with paypal, they always pay lower than the market
Lol! Thats one way on how paypal make money on their customers. They may be free of charge from buying stuffs on online stores, transferring money from one account to another but i guess its their ways on luring people to use paypal. And besides the currency is not constant at all, i have tried it on Western Union if you are familiar with it, i tried to withdraw a money my mum sent me i have checked the currency and calculated how much im going to claim but i was wrong and to my surprise the person in charge on the billings told me that the rate just changed an hour ago >.>
Indian banks charge more than Paypal do. Paypal charges are around Rs.1.35 per dollar for conversion while other banks in india charge Rs.2.50 per dollar. So, you are benefitted by Paypal instead of banks. Withdraw by check and you'll know the difference. Don't go for alternate payment processors as paypal is the best.