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PayPal Is a Cheater

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Lol when u goto a foriegn exchanger to exchange ur currency
they buy 1USD at 48Rs but sell at 51Rs
paypal is doing the same lol/
 
I have read all the comments. Some of the comments say that the exchange rates differ time to time. Have they ever looked in to international rates which is fixed and handled by the WTO itself. I can't recall the site name but I used to use it when I was working in claims for a bank. It's the standard rate adopted all over the world. And I have posted the time. The exchange rates doesn't change second by second. It changes once or twice a day in normal share market conditions. It's nothing to do with conversion rate. They charge the conversion rate and in the same time they convert it $1 less.

Isn't it funny trading?
 
There is nothing to astonish! Its just as u trade currency. Buy for more, sell for less.
All Businesses have loop holes ;) nvm about 500 be happy you got the remaining.
 
No you don't get the point,It's the conversion rate of the day you "REQUEST" the transfer. but they don't transfer the money in the same day but a later day.So the rate might go down or up on that day.Happens to me always.

So it's not cheating.
 
Let me explain it to you how it works mate:

When Paypal says they will not charge a fee for withdrawal, it means you can withdraw your funds for free.

What your talking about is the conversion rate. Paypal always offers 1.5 to 2 Rupees lesser than the actual rate. This is not now but existed since years.

Earlier on once your conversion happened and the amount in rupees was less than 7K, they used to charge an additional fee of Rs 50. for the withdrawal to bank. Now that additional fee of Rs. 50 has been scrapped off.

So the lesser amount you receive after conversion has always been there in the past.
 
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