Paypal rates
Monday, December 8th, 2008
I don’t know exactly how Paypal determines their US dollar to peso exchange rate. I have always assumed that their rate is lower by a peso. That is based on monitoring the rates they used in the past. But last week, their rate got stuck to $1 : Php47.20 for almost 3 days! The rate here in the country is $1 : Php49+. So their rate should have been in the Php48 level. Or even slightly lower than that. Oh well…
Earning is getting harder and harder each day. But I am still hopeful that the next year will bring in good tidings for all of us.
Happy Monday! Have a great week everyone!
I am an accountant, a CPA. I'd been working for 10 years as a corporate rat when I decided to quit. I am now working at home as a consultant and full time blogger.
December 8th, 2008 at 2:52 pm
Oh yeah, I agree with you in paypal, yan din ang problema ko. Sash, meron pala akong paypal deposit nung Sept. 2 at nagka problema between BPI and paypal. This week lang na recover at alam mo ang nangyari? Hindi tinanggap ng BPI ang deposit from paypal (long story). Alam mo, kinaltasan ng paypal worth $80 ang pera ko dahil daw fee yun sa return.
:((
December 9th, 2008 at 11:58 am
I thought I am the only know who noticed it. This is the main reason why I dislike using Paypal. They give you much lower exchange rate and we lose out on it. I have been thinking of changing to another mode of payment but did not really search for any. Paypal is effectively charging us twice; first on receiving money and then on drawing out money. Meaning when we receive money, Paypal deducts a portion of it. When we draw money out Paypal gives lower exchange rate.
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December 9th, 2008 at 3:52 pm
I experienced the same thing a few months ago. Ganyan talaga sila, ang laki ng difference when every peso counts.
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December 9th, 2008 at 7:18 pm
Hi! I just wanted to ask..what’s the longest waiting time you’ve ever gone through when withdrawing from PayPal to your BPI account? I made a withdrawal last October 28, 2008 and the money was credited to my BPI savings account by October 31. I made another withdrawal last December 2 and PayPal sent me a notice that it should reflect in my bank account by December 9 but it’s still not there! I’m getting really worried
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December 9th, 2008 at 10:50 pm
@Raquel… Grabe naman yung nangyari sayo, manay! Did you ask them why it amounted to $80?? Ang laki nun! Ang sabi sa policy nila, 250pesos ang fee kung ibabalik ang pera or sa US yata may fee ng $15 lang.
@BK… I don’t think there is a competitor as big as Paypal. So many have tried to unseat them but no one succeeded. Even Google checkout can’t unseat them
That’s why they are feeling oh so powerful and lording it over all of us.
@MSD… correct! Even cents na lang kaya nakakainis!
@Fatima… That’s too long a wait already! Baka ibabalik din ang money mo like kay Raquel. You better contact BPI if they are seeing an incoming remittance for you. Hindi kasi dapat ganyan katagal eh. I suggest you open a Unionbank savings account and use that in the future. I tell you, 5 days na ang pinakamatagal.
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December 11th, 2008 at 9:00 am
Hi Sasha, thank you for the reply. Here’s the summary of my long story.
Yung dollar account ko, nilagay ko sa paypal account ng sister ko bale two bank accounts ang naka register sa paypal nya, one on her name at one for me. Every time mag widraw ng pera si sis S, wala namang problema dahil darating agad.
Nung September, meron akong pinadalang pera sa paypal ni sis S worth $700. Pinadeposit ko sa dollar account ko. Ayun nagka problema dahil converted na sa peso pag ipadala sa paypal ang pera natin. Ang account ko ay dollar manay kaya di tinanggap ng BPI ang transaction na yun. Cgruo $80 ang kaltas dahil malaking halaga. Hindi na ako nagtanong manay kase naiinis ako sa kanila. It was a long process before I got my money back. I will tell about this pagnagkita tau. Talagang maiinis ka sa system natin jan sa pinas.
December 14th, 2008 at 1:01 pm
totoo yan kapatid. Ang kwenta ko minsan sa rate ay nasa 48 pero pagdating sa paypal 47 0 46 lang. tapos may $5 pa na fee. 250 rin yun.
Congrats nga pala. ang taas na ng alexa mo. ako ay 270k pa lang. naglalaro doon. hindi ko na nga alam kung pano ko mapapataas haha
Happy week ahead of you nga pala. kundi ka pa nagcomment kay reynz di ko mapapasyalan eto blog mo sa dami (as in madami) na akong iniikutan ngayon. daig pa ang nagpapatrolya na pulis LOL.
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