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3 posts

Wannabe Geek


Topic # 13214 28-Apr-2007 13:32
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Hi

Not really sure if this is a good place to ask this, but I couldn't find a better one, so anyway...

I want to add funds to my Paypal account, but by the looks of it there's no easy way to do so.  I've read in other places that what normally happens is you attach your credit card to your account and then they charge your card when you make a purchase.  There are a couple of reasons I'd rather not do this - first, I'd like to convert some cash to US dollars now while the exchange rate is good, and second, I usually only make really small purchases (like $10 a month for web hosting) and I don't want to pay a currency conversion fee every time.

Does anybody have any advice?
Or at the very least can anyone tell me what happens when you purchase on your credit card through Paypal - is the currency conversion done by Paypal or your bank and at what rate?

Any help would be appreciated!

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BDFL - Memuneh
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Reply # 68748 28-Apr-2007 13:40
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Welcome to Geekzone... And some good questions there. I know you can now have a Paypal account with different currencies, including New Zealand dollar. I am not sure how this the local credit card administrator treats these though - NZ$ -> US$ or direct NZ$ to NZ$?

The only way to "load" your Paypal account is to attach a credit card and let it do the transactions. I think you can only load it from a bank account if you have a US-based bank account. You can withdrawal from a Paypal account to a NZ bank account though, if you have funds there.

Best option would be to ask Paypal how it happens.








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Wannabe Geek


  Reply # 68750 28-Apr-2007 13:52
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Thanks for your thoughts.

I emailed Paypal support yesterday but didn't even get a message receipt, let alone a reply...

I have my account in USD at the moment since I did some design work for a couple of US companies a while back, and it's been great being able to pay in USD, but I've almost spent it all now :(

 
 
 
 


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  Reply # 68761 28-Apr-2007 14:44
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jylyn:
Does anybody have any advice?
Or at the very least can anyone tell me what happens when you purchase on your credit card through Paypal - is the currency conversion done by Paypal or your bank and at what rate?

Any help would be appreciated!


Paypal charge your credit card in the currency you paid for the goods in - for example if you pay US$30 for a product this will be charged to your credit card in US$ and converted by your local bank who of course add on the credit card processing fee and their own foreign exchange conversion. If you buy something in UK pounds then it's the same story, it's charged to your credit card in pounds and converted by your NZ bank.


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  Reply # 68762 28-Apr-2007 14:47
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jylyn: Thanks for your thoughts.

I emailed Paypal support yesterday but didn't even get a message receipt, let alone a reply...

I have my account in USD at the moment since I did some design work for a couple of US companies a while back, and it's been great being able to pay in USD, but I've almost spent it all now :(


I don't believe the is any way to load money into your account except from a USA bank account. You can't add money to your account from a credit card only pay for goods/send money from one. This is in place to stop obvious money laundering.




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Wannabe Geek


  Reply # 68763 28-Apr-2007 14:49
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Thanks, it helps a lot to know that.

I'm wondering if the way to go is to request a payment from myself and then pay it with my credit card.
I guess I'll have to do the maths and see if it's worth it.

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