Paypal
By BarBaraPrz
@BarBaraPrz (46490)
St. Catharines, Ontario
November 9, 2012 8:44am CST
You know the old saying, "You can't have it both ways"? Well, apparently PayPal can. I just received a payment of $5 Canadian, but PP says, oh! the Canadian dollar is lower than the American one, so you only get $4.86 US. But when I try to withdraw $200 US to my Canadian bank account, the Canadian dollar is higher and so they'll only give me $194. Must be nice to make your own rules.
3 people like this
12 responses
@yallit (3677)
• Philippines
9 Nov 12
I guess the question is, "Did both scenarios happen on the same day?" Because if it's not the same day, you'll need to remember that a currency's value changes on a daily basis. Canadian dollar and US dollar exchange rate is very tight. The difference is just a few cents and fluctuates in a daily basis. So, Canadian dollar maybe higher today by a few cents but it could be US dollar which is higher the next day.
1 person likes this
@BarBaraPrz (46490)
• St. Catharines, Ontario
9 Nov 12
Nope. I checked the conversion within seconds of getting the payment.
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@AgentGulaman (3546)
• Philippines
10 Nov 12
Yeah, that is where Paypal profit much. Their exchange rates are really a pain. Do you happen to know transfers companies like Paypal which charges less and also much fair with exchange rates?
1 person likes this
@BarBaraPrz (46490)
• St. Catharines, Ontario
10 Nov 12
Usually I just let it sit in PayPal until I want to buy something online, but I haven't bought anything online lately.
@AgentGulaman (3546)
• Philippines
10 Nov 12
Same in here. I do have accumulated funds in my Paypal account. I am just waiting to withdraw them up once there is a much favorable foreign exchange of the US dollar and my country's currency. As I don't need the money yet, getting more is better.
However, the Paypal exchange rate really isn't great. That is why I am thinking of just using my Paypal to buy stuff in the US instead.
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1 person likes this
@mariaperalta (19073)
• Mexico
9 Nov 12
Well with my paypal is works in my favor. The us dollar here is 12.45. When I recvd, my paypal money pp gave me the dollar at 12.60. So I must have got the few dollars they took from you in canada. Kinda hard to see why. Have a good day there.
1 person likes this
@auwielady (116)
• Philippines
9 Nov 12
That's pretty awesome! I wish I could withdraw from my paypal account as well. soon enough. I also wish I could do so much here so I can earn already. lol. Foreign currencies and conversions are really hard to understand most of the time. But I'm glad that it worked better for your benefit. :)
1 person likes this
@BarBaraPrz (46490)
• St. Catharines, Ontario
9 Nov 12
You misread. I get dinged both ways.
As for earning here, just keep posting.
@auwielady (116)
• Philippines
9 Nov 12
Oh I'm sorry. So I guess there's some sarcasm included in your post. I didn't get that. Now I'm a little scared... What will it be for me? :(
@hoseasmate (720)
• United States
10 Nov 12
Wow. Your article gave me the next facebook post for what I am grateful for, for the day. I'm grateful I earn money and collect money from paypal within the same country and pay no exchange rate. Sorry for your loss!
1 person likes this
@patgalca (18273)
• Orangeville, Ontario
9 Nov 12
Actually, when the Canadian dollar is lower than the American, we are supposed to get MORE, not less.
I have had this problem before when the dollars are so close in value. It depends on the dollar value at that exact moment in time. It goes up and down all day long until the stock exchanges close. But I did argue with the bank about this, to no avail.
We just came back from the U.S. I had saved up all the American coin accumulated over the years and was paying for things in change so I could use it all up. We only took out $100 U.S. from the bank and my daughter brought some back from when she was working out west this summer and gave it to us - $145. We managed to spend almost every dime because we knew exchanging was moot. It will be interesting to see about the charges on our credit card and how much more or less we had to pay.
1 person likes this
@BarBaraPrz (46490)
• St. Catharines, Ontario
9 Nov 12
That's what I'm griping about. It wasn't even 10 seconds after seeing the amount paid that I checked the conversion back. The rates just don't change that quickly.
@ANTIQUELADY (36440)
• United States
9 Nov 12
That's a crock. Guess it would be nice to make the rules as u go along.![](/Content/images/emotes/rolleyes.gif)
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@celticeagle (164045)
• Boise, Idaho
10 Nov 12
That's a bummer! Guess it can't work positively for everyone around the world. Could be alot worse I guess. Making your own rules can be fun. lol Every company sees it their own way.
1 person likes this
@Janey1966 (24170)
• Carlisle, England
9 Nov 12
Try being a Brit on PayPal. Currently, 10 US dollars equates to £6.27.![](/Content/images/emotes/sad.gif)
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1 person likes this
@BarBaraPrz (46490)
• St. Catharines, Ontario
9 Nov 12
That makes the pound more than double the dollar.
@hereandthere (45645)
• Philippines
10 Nov 12
aside from the lower exchange rate, there's also a transaction fee between countries.
so i'm really glad there are generous sites like mylot that doesn't deduct anything when paying people across oceans and borders.
otherwise, what would be left of my precious $10 that will probably take me half a year to reach? ![](/Content/images/emotes/lol.gif)
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1 person likes this
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