Paypal currency exchange rates

@nainesh1 (1656)
India
September 22, 2010 6:23am CST
I had transfered some money from my paypal account to my bank account, they given me rupees 43.98 against 1$ but actually it is rupees 45.55 . Why they are giving less? it cost me $2.
4 responses
• India
23 Sep 10
In general.. their conversion rate is almost 1.5Rs less than the actual dollar to rupee conversion rate. Well if you have transferred money in your bank account then at the time of transferring process you must have got to know about the conversion rate. as paypal convert the money before transfer and they mentioned all the details there...
@daliaj (5681)
• India
22 Sep 10
I think Paypal has nothing to do with the currency rates you got. I think the Paypal transfer the money in dollars to your bank account and it is your bank you gives the exchange rate for your dollars with Paypal. It is sad that the banks sometimes give different exchange rates. Different cards in the same place have different rates. You can call different banks if you have differnet accounts to see who have good rates and move money to that account.
@gerald_lian (2190)
• Australia
22 Sep 10
I think there might be a bit of a transfer charge either from Paypal or the bank for the transfer to be processed. As far as I am aware, there shouldn't be a charge if we transfer from a bank account into Paypal, but I haven't tried it the other way round so I'm not sure if it's Paypal charging the transfer fee or the bank doing it. If you have time on your hands, maybe you could try calling your bank service provider and check to see if they did charge a fee for the transfer. If they haven't, then you can conclude that it is most probably Paypal charging the fee.
• Philippines
22 Sep 10
Maybe the bank had an interest rate that's why your money decreased. I consider interest rates when looking for a bank. Some have very high and others have reasonable.