Posts Tagged ‘exchange rate’

Is PayPal trying to cheat Malaysian users?

Posted on Thursday, February 25th 2010 11:05 am by menj in Internet Income, Payment Gateway

paypal logo Is PayPal trying to cheat Malaysian users?

So I decided last night that it was the time for me to withdraw my PayPal funds via the bank facility that they have provided. In case you didn’t know already, PayPal has now allowed direct withdrawal of funds to Malaysian banks. However, I noticed that the exchange rate for RM from USD in the PayPal system is significantly lower than the current currency exchange market rate.

Here is the currency rate as determined by PayPal when I used their internal currency converter from USD to RM.

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