1 dollar = Rs 55.0276 at paypal :(

To my knowledge, Paypal does not convert back INR at the current market rate (based on my last two transactions). It is about 3-4% less than the prevailing rates.

It may not be a good time to buy, but may be a nice time ahead for selling at head-fi :lick: If I had postponed my IEM sales a little, I could have sold some of them over there now. Sigh!
 
esanthosh said:
To my knowledge, Paypal does not convert back INR at the current market rate (based on my last two transactions). It is about 3-4% less than the prevailing rates.
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Thats coz currency conversion charge is 3.5% which is added during INR -> USD and subtracted during USD -> INR
 
Its actually 53.7. Paypal is nuts.

Better to buy from site using CC (With banks which do not charge you for international online transactions, like SC)
 
^ SC and Citi don't charge for international online transactions? Since when? I have been using those cards for more than a couple of years for online transactions now, and I have been charged the markup every single time.
 
i compared three cards for google android market app purchase.

out of state bank, HDFC and axis bank.

axis charged me cheaper @ 5 rs. per app.
 
trigger said:
^^ and Citi bank
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Oh ya forgot about that one.

agantuk said:
^ SC and Citi don't charge for international online transactions? Since when? I have been using those cards for more than a couple of years for online transactions now, and I have been charged the markup every single time.
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I have been using them for a year. Never been charged.
The ones I have are SC Manhattan Platinum and Citibank Platinum Rewards.
I don't think my HDFC bank CC is charged either. That one is Visa Signature.

They always show the amount in the currency used and no other charge on that thereafter.
 
mjumrani said:
The ones I have are SC Manhattan Platinum and Citibank Platinum Rewards.

I don't think my HDFC bank CC is charged either. That one is Visa Signature.

They always show the amount in the currency used and no other charge on that thereafter.
Click to expand...

Because what is shown is inclusive of their 3.5% Foreign currency transaction charge + Service tax. I've been charged every single time!
 
mjumrani said:
I have been using them for a year. Never been charged.
The ones I have are SC Manhattan Platinum and Citibank Platinum Rewards.
I don't think my HDFC bank CC is charged either. That one is Visa Signature.
Click to expand...
Have the exact same set. Always charged.
They always show the amount in the currency used and no other charge on that thereafter.
Click to expand...

And that's because of the below post:
esanthosh said:
Because what is shown is inclusive of their 3.5% Foreign currency transaction charge + Service tax. I've been charged every single time!
Click to expand...
 
esanthosh said:
Because what is shown is inclusive of their 3.5% Foreign currency transaction charge + Service tax. I've been charged every single time!
Click to expand...

I have never noticed that. The amount has always been what I spent.

I even confirmed it with a SC executive a few days ago since I was having doubts as my friend had brought up the exact same issue.
 
^ Then you are not checking the dollar rates properly :p They may not explicitly mention the extra fee charged but its included in the exchange rate applied.

Here you go, straight from SC website.

uFsZG.jpg


http://www.standardchartered.co.in/_documents/service-charges-fees/SoSC_CC_08.pdf
 
arjun123 said:
Its a little good for me since I get some monthly donations to my paypal account. :)

That reminds me something that I wanted to ask for some time now. Is it better to withdraw directly from pounds to your bank account (i.e. pound to rupee conversion) or first convert to US$ and then withdraw?

Also I was informed that under new guidelines we can't keep funds in our paypal account for long. Is it true? With Rupee further expected to fall I was seriously thinking about not withdrawing from my paypal account for next few months.
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PP transfers the balance each day out of the account. At least thats what has happened to me last whole week.

--- Updated Post - Automerged ---

I guess one thing is really interesting: many noticied the new 1 & 2 re coin but dint think abt the reduced size. By re-issuing coins of lesser value (reduced metal making the coins cheaper) RBI had actually declared to the whole wide world that we are in deep trouble.

We also have been having some musical chairs going on. We are pro-Foreign investments (Retail etc) and then we suddenly pull it. Not helping at all.
 
max_demon said:
but the worth of 1 rupee is decreasing that's what matters
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even the size is decreasing, soon it will be the size of 25 paise, then turn for 2 rs, then 5, 10 ........................... congress wants to strangle the common man but don't want to kill because who is going to tell the story.
 
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