How to check the paypal's current exchange rate?
PayPal does charge a premium, both for sending and receiving. Here's how you find their rates: The Paypal 'classic' site option has now been removed and you will not know what you will be charged UNTIL YOU COMMIT TO BUY.  Paypal told  me today ( brexit day 24th ) that their site is NOT connected to the Ebay site so when Ebay tells me '$77.00 approximately £52.43' for an item I would in fact pay £59.62.   You will Not be aware of this UNTIL you commit to by. Paypal informs me there are no plans to restore the 'classic' option Paypal site. fx-rate.net offers a AUDUSD exchange rate comparison, which includes paypal: Currencyfair    $1.14 Transferwise    $ 2.29 Worldremit  $ 3.50 Xendpay $ 3.71 Tranzfers   $ 5.52 Ukforex $ 7.35 Skrill  $ 15.13  Paypal  $ 25.77  Kantox  $ 27.76  http://fx-rate.net/currency-transfer/?c_input=AUD&cp_input=USD "FYI, just found this (https://www.paypal.com/webapps/mpp/ua/useragreement-full#8) ""8.9 Currency Conversion Currency Conversion 2.5% added to the exchange rate The Currency Conversion spread applies whenever a currency conversion is required to complete your transaction. The exchange rate is determined by a financial institution and is adjusted regularly based on market conditions. Adjustments may be applied immediately and without notice to you. When your payment is funded by a debit or credit card and requires a currency conversion, you consent to and authorize PayPal to convert the currency in place of your debit or credit card issuer. You have the right to have your card issuer perform the currency conversion and can choose this option during checkout on your transaction review page before you complete the transaction."" 2.5%!! Can this be true?" "I cannot speak for Paypal specifically and I doubt anyone who doesn't actually work on their internal automated payment systems could. However, I can speak from experiencing in working on automated forex transaction systems and tell you what many institutions do and it is often NOT based on live rates. There is no law stating an institution must honor a specific market exchange rate. Institutions can determine their own rates how and when they want to. However, there is some useful information on their website: https://www.paypal.com/an/cgi-bin/webscr?cmd=p/sell/mc/mc_convert-outside ""The most readily available information on currency exchange rates is based on interbank exchange rates. Interbank exchange rates are established in the course of currency trading among a global network of over 1,000 banks, and are not available through consumer or retail channels."" This leads me to believe they pull exchange rates from either Oanda or XE periodically and then use these rates throughout the day to conduct business. Paypal does not disclose who they use to determine rates. And it's highly doubtful they do this for every transaction (using live rates). Even if they did, there would be no way for you to check and be certain of a particular exchange rate as paypal states: "" Consumers may use these rates as a reference, but should not expect to use interbank rates in transactions that involve currency conversion. To obtain actual retail rates, contact your local financial institution or currency exchange, or check the rate displayed in your PayPal transaction."" This is partly because rates can change by the second just like stock prices or anything else which is susceptible to the open market's variables of supply, demand news events etc. So, even if you check the rates on Oanda (which you can do here: http://www.oanda.com/currency/converter/) you are not going to get a 100% accurate representation of what you would get by doing an exchange immediately afterwards from Paypal or any other financial institution. However, if you want to estimate, using Oanda's currency converter will likely get you close in most scenarios. That is assuming Paypal doesn't charge a premium for the exchange, which they may. That is also assuming they use live rates, it's also possible they only update their rates based on market rates periodically and not for every transaction. You may want to test this by checking the exchange rate on your transaction and comparing that to the Oanda rates at the same time." There is a way I discovered of finding the current exchange rate before committing to buy, go to send payments, put in your own second email, pay 1gbp as the amount and it will give you the exchange rate and fees in your own currency, in my case euro, before you have to click on send payment Whenever you pay or withdraw some fund from your account, paypal takes approx 3% of the current currency value along with the fees. i.e. If you are paying/withdraw 100 unit of US Dollars to British pounds and if the current convertion rate is 1$=0.82GBP, then consider reducing 3% of the actual currency rate. So, the approximate magnitude will be 0.82*97% (100-3=97) = 0.7954. So, 1$=0.7954GBP. This formula will not give you 100% accurate value but will help of course. Captain
Square prices are hard to beat for a small operation. I've looked around when I was considering starting up a business, and they're definitely one of the cheapest. Paypal are the second best, but I do not trust Paypal in general. However, looking locally may provide you some more options. If you walk in to one of the local banks, you may be able to get offers for merchant accounts with better rate, depending on your relationships with that bank. You can also check out Costco merchant services, they seem to be quite competitive with the rates, but there may be other costs (they will probably charge more for equipment). It will cost the same no matter what currency you use, unless you have access to a deal with a currency exchange that gives you an especially favourable conversion rate for a particular currency. If the current exchange rates are US$1.70 to the £, CA$1.80 to the £ and HK$12.50 to the £, then £1, US$1.70, CA$1.80 and HK$12.50 are just four different ways of writing the same amount of money. So whether you pay in US$, CA$ or HK$ it's the same amount of money that you're paying. Find a good commercial bank in the us, or almost any bank in Canada, and exchange cash. Or use an ATM card in Canada; the surcharge is often minimal. (Check with your bank before traveling). You may or may not get a good exchange rate from your hotel desk; some view it as a courtesy, others as a service. You may be able to simply pay with American cash, near the border, but check the exchange rate. Or, for small amounts, you can simply not worry about whether you're getting the best possible exchange rate or not. I visit Canada periodically, and I use a mix of these solutions. Including that last one. "It's been a short while since I sold on eBay, but I had a feedback rating of about 4,500 so I've done a lot of transactions. The trump card is, and always will be, the buyer's ability to contact their credit card company and reverse the charges.  PayPal has no policy to stop this even though they claim to ""vigorously defend Sellers from chargebacks"" on their website.  You will lose this case 100% of the time.  I don't see how that will change if you have your own terminal.  The Buyer can still reverse the charges.  Since you know the card number maybe you can contact his credit card company but it's probably not going to do much. I've found PayPal is more Seller friendly in terms of PayPal claims.  For example, the customer has a duty to pay postage to return the product and that's a cost for him.  You also have things like online tracking which shows delivery and PayPal has an IP log to see where the payments are coming from.  That helped me when a buyer claimed that someone else made the payment.  Because people often break into someone's house and make PayPal payments for them....heh. You really just need to use PayPal.  You'll get more customers and better prices and it will offset the losses from scammers.  Also, about 99% of buyers are honest people.  Consider the scammers a cost of doing business and keep making money off of the good Buyers.  If you're just pissed off that people actually scammed you, get over it.  Don't cut off your nose to spite your face.  It's just part of doing business on eBay." From my experience using PayPal for selling products on eBay (and for the last two, experiences of a friend)...  Can paypal get money from my Bank Account without my authorization. This is assuming they have transferred the funds to me. They can't pull money from your bank account without your authorization. They will, however, take the money from your PayPal account if it's still there, or leave you with a negative balance if you've already withdrawn. They will do this as soon as there is a claim against you and will only release the funds if the investigation ends in your favor. Any money received would first be used to satisfy the negative balance. What actions can paypal takes against me if charge back amount is very high and I don't agree / pay them. They will send it to a collections agency. Is there any case it is going to effect my bank account, i.e. is there any chance paypal can block my bank account in India. They will block you from using PayPal. If you try to sign up again with a different bank account or credit card and they recognize you as the account holder, they will block that account as well. If you set up two Paypal accounts (one linked to your UK bank account and one to your US bank account and get them both properly verified) you should be able to transfer the money for free as far as I know.  You would have to fund the transfer directly from your UK bank account (not via a credit card). Deposit it into your Brazilian bank account. They'll charge you collection fee (shouldn't be high, its a cashier's check equivalent), and the currency exchange rate may not be the best ever, but that's the price to pay for the service. Another option would be to cash the check at check cashing places, but that would most likely require you being in the US (I don't know if any check-cashing store in Brazil would cash a US check). "This is the best tl;dr I could make, [original](http://en.econreporter.com/en/2017/06/effects-unconventional-exchange-rate-monetary-policy-explained-joseph-gagnon/) reduced by 97%. (I'm a bot) ***** &gt; In this interview, we discussed one of his latest research paper &amp;quot;Unconventional Monetary and Exchange Rate Policies&amp;quot; and the new book he coauthored with C. Fred Bergsten, &amp;quot;Currency Conflict and Trade Policy: A New Strategy for the United States&amp;quot;.  &gt; The latest paper that you are talking about &amp;quot;Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies&amp;quot; which is in the Open Economy Review, and also a working paper in the IMF and Federal Reserve.  &gt; Some countries let the central bank take the lead. Other countries let the finance ministry takes the lead. In exchange rate policies, you see quite a lot of differences also.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6f2f1w/the_effects_of_unconventional_exchange_rate_and/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~135699 tl;drs so far."") | [Theory](http://np.reddit.com/r/autotldr/comments/31bfht/theory_autotldr_concept/) | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **Policy**^#1 **country**^#2 **think**^#3 **Currency**^#4 **Exchange**^#5"