Would Paypal have currency exchange!

Discussion in 'PayPal' started by secretsau, Dec 25, 2008.

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  1. #1
    Hi,

    I was wondering would paypal have or ever have currency exchange, where you can change currencies every now and then ..... Because now that the economy is collapsing this should be an option we need to consider!

    Regards

    :D
     
    secretsau, Dec 25, 2008 IP
  2. RightMan

    RightMan Notable Member

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    #2
    Paypal exchange rates for currency are way too costly and are no way near the actual exchange rate as prevalent in the market.....

    I recently did a transaction for INR and they calculated it at the rate of Rs.45/$ while actual rate was close to 49 !! :eek:

    Regards,

    RightMan
     
    RightMan, Dec 25, 2008 IP
  3. secretsau

    secretsau Active Member

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    #3
    I agree with you, but don't they have an option of currency exchanges
     
    secretsau, Dec 25, 2008 IP
  4. Yash07

    Yash07 Peon

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    #4
    Its not there as straight , but its been there as they can transfer your money in other currencies too. So I think try that out & correct me , If I am wrong
     
    Yash07, Dec 26, 2008 IP
  5. jalsa

    jalsa Peon

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    #5
    u can receive any currency you wish in your paypal account . It will convert the amount into your basic currency with their exchange policy. but mind you its costly. their fee rates are very high.
     
    jalsa, Dec 26, 2008 IP
  6. ms2134

    ms2134 Well-Known Member

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    #6
    Yes, it can be done.

    You would loose a fair bit of money through all of the fee's though. So many fee's that you may/will incur from always transferring money. Even currency conversions...

    Regards,
    ~ Mike
     
    ms2134, Dec 26, 2008 IP
  7. eddy2099

    eddy2099 Peon

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    #7
    Well, they are not a currency exchange business but they do allow you to keep your balance in one of the 18 currencies they support. You can transfer your money or except payments in any of those 18 currencies but each time there is transfer of funds between the currencies, you would be subjected to the prevailing foreign currency exchange fees.

    Go to 'Profile' tab and under the 'Financial Information', select 'Currency Balances'. You can then sent up each of the currency balance and after which you can transfer your funds around them.
     
    eddy2099, Dec 26, 2008 IP