dollar in paypal

@nawala123 (20852)
Indonesia
December 14, 2018 7:04am CST
Is keeping dollar in PayPal for long period a new shape of investment? i am thinking about it, how if we, non USA citizen, save and keep money in our paypal account for long term, and by time when inflation goes higher, we can withdraw our money back to our currency. is it a good idea?
6 people like this
10 responses
@owlwings (43915)
• Cambridge, England
14 Dec 18
PayPal doesn't pay interest. They also charge a fee and also make some of their revenue from the exchange rate they set. The only good reasons for keeping your PayPal balance in dollars would be if you expected the exchange rate to change in your benefit (only worth a few cents, depending on your balance) or if you expected to be paying for something in dollars.
2 people like this
@mysdianait (66009)
• Italy
14 Dec 18
I keep mine in dollars since forever for both of the reasons you give at the end of your comment.
1 person likes this
@nawala123 (20852)
• Indonesia
14 Dec 18
yes, that is what i mean, because inflation is so high and most currency vs dollar is weaker
1 person likes this
@nawala123 (20852)
• Indonesia
14 Dec 18
@mysdianait good job
2 people like this
@louievill (28851)
• Philippines
14 Dec 18
Paypal fees and charges will eat up whatever gain you get from currency exchange.
1 person likes this
@louievill (28851)
• Philippines
14 Dec 18
@nawala123 yes but they charge when you convert back to your local currency, you could also check if when converting from paypal usd to your local currency if it's the current and true exchange rate, I think it's lower.
@nawala123 (20852)
• Indonesia
14 Dec 18
@louievill i know, i have check it. last month i withdrew 140 dollars, free of charge, and the rate is lower 400 rupiah than the true, about 2,5 cent per dollar. just yesteder i got in my local bank again, 77 dollars, fee 16000, (1,1 dollar ) and the rate is lower 500 rupiah per dollar, 3 cents.
1 person likes this
@nawala123 (20852)
• Indonesia
14 Dec 18
i dont think so, i have count the fee. moreover, when we withdraw more than 100 dollar is free of charge, paypal just take 2-3 per dollar when we withdraw to local bank, and it is much worth than bank interest or inflation
1 person likes this
@mysdianait (66009)
• Italy
14 Dec 18
Oh to have a dollar in my Paypal
1 person likes this
@mysdianait (66009)
• Italy
14 Dec 18
@nawala123 I can't make them there. They go there when I make them somewhere else
1 person likes this
@nawala123 (20852)
• Indonesia
14 Dec 18
@mysdianait if cant make there, so find out, and put inside and lock em up
1 person likes this
@nawala123 (20852)
• Indonesia
14 Dec 18
yeah, make dollar in paypal
1 person likes this
@1hopefulman (45123)
• Canada
14 Dec 18
Do they pay interest?
@nawala123 (20852)
• Indonesia
14 Dec 18
no, nope
1 person likes this
@1hopefulman (45123)
• Canada
14 Dec 18
@nawala123 Then, would it not be better to put the money in the bank and get a bit of interest?
@nawala123 (20852)
• Indonesia
15 Dec 18
@1hopefulman We have to count the inflation and currency volatility
1 person likes this
@id_peace (14005)
• Singapore
1 Jan 19
I do keep my money in my paypal not because of appreciation of US currency but there is a charge unless I could withdraw and convert the amount of a minimum of $200 which they will not charge me anything.
@id_peace (14005)
• Singapore
1 Jan 19
It had been constant
@nawala123 (20852)
• Indonesia
2 Jan 19
@id_peace actually paypal atke few cent per dollar when we withdraw our money, even it doesnt charge fee
1 person likes this
@nawala123 (20852)
• Indonesia
1 Jan 19
good to know, by the way your miney is getting stronger to us dollar
@Karenmm (881)
• Nairobi, Kenya
14 Dec 18
Does PayPal pay interest
@nawala123 (20852)
• Indonesia
15 Dec 18
@Karenmm how about inflation your currency vs dollar?
@nawala123 (20852)
• Indonesia
14 Dec 18
nope
@Karenmm (881)
• Nairobi, Kenya
15 Dec 18
@nawala123 then don't leave the money in PayPal.... take it to the bank
@topffer (42156)
• France
14 Dec 18
It may be interesting to pay something in USD to avoid PayPal exchange rate. I paid a Skype subscription like this during years. I do not think that keeping USD for the long term has any interest.
@topffer (42156)
• France
14 Dec 18
@nawala123 Not really. If you pay in another currency PayPal takes an exchange rate that they recently raised to you, and the receiver pays also a fee : they earn on both sides.
@nawala123 (20852)
• Indonesia
14 Dec 18
@topffer rupiah is volatile, i often pay people using it and no free of charge. just when for withdrawl only
1 person likes this
@nawala123 (20852)
• Indonesia
14 Dec 18
for, it is easier to pay someone in paypal, because it is free
1 person likes this
@Aquitaine24 (11653)
• San Jose, California
12 Feb 19
I have never thought about that.I would like to hear more.
@Hannihar (129470)
• Israel
15 Feb 19
@nawala123 I have my money in my paypal account because do not need to touch it now and want it to build up.
@leny34 (8506)
• Sidoarjo, Indonesia
14 Dec 18
yes I think it's a very good idea, if you really don't want to take it now maybe you can save it
@nawala123 (20852)
• Indonesia
14 Dec 18
keeping money in bank is not helping to face the high inflation