How much does PayPal charge for exchange rate?
Additionally, if the sender needs to convert to a different currency before sending, 3.5\% is the PayPal currency conversion fee to US dollars or Canadian dollars, whereas 4\% is the currency conversion fee for other currencies.
Is PayPal supported in India?
The PayPal wallet feature is not available in India for personal use. However, as an individual, you can use PayPal to make a purchase with the sellers that use PayPal globally and through the PayPal mall for goods or services.
Is PayPal illegal in India?
If you are an individual, you must be a resident of India and at least 18 years old to open a PayPal account and use the PayPal Services. If you are a business, the business must be organized in, operating in, or a resident of, India to open a PayPal account and use the PayPal Services.
Is PayPal ending in India?
PayPal is shutting down its domestic business in India, less than four years after the American giant kickstarted local operations in the world’s second-largest internet market. This means we will no longer offer domestic payment services within India from 1 April,” said a company spokesperson.
Does PayPal automatically convert USD to INR?
Yes, PayPal can convert the currency automatically depending on the user. If you are from the US it will convert to USD and if you are from India it will convert to INR likewise it will work for all the countries. How much PayPal charge per transaction? Fee that is charged by PayPal is 2.7 \% of the amount when you accept the payment
How much money is in my PayPal account in India?
Example to know PayPal charges in India – Convert $200 USD to INR. 1. PayPal Transaction fees (+ 18\% GST) Here is screenshot from paypal support, if you want to take a look. So the actual amount will remain in your PayPal account is 200-10.738=189.262 USD.
Is PayPal using an unfair conversion rate for remittances to India?
I noticed that PayPal is using an unfair conversion rate for converting USD balances to Indian Rupees for remittances to India by users. For example, the exchange rate for 1 USD to Indian Rupees today is: 1 USD = 47.6000 India Rupees – this rate is obtained from my bank website (HDFC Bank) today for selling dollars through demand draft.
How much does PayPal charge for currency conversion fees?
Currently they are charging 2.5 \% on currency conversion fees, but there is some hidden charges which PayPal apply. In reality they don’t disclose that rate, normally they said they are partner with some banks, and their rate is normally lower than what xe.com website display.