Does anyone know which banks offer better rates when we cash out our paypal money from them? I mean the conversion rate, charges etc.. Or maybe any reliable debit card we can use?
Anyone care to share any information they know. Pls PM me or post reply here

Hi caNonD, I do not know which bank offers a better rate but I've cashed out to DBS Bank before. All smooth. There is no additional charges (besides exchange rates) if you're withdrawing above S$200, if I remember correctly.

Hi Jade, thank you so much for sharing
That's great news because I was about to try with DBS too.
Needed to know because long long time ago I funded stormpay with debit cards of UOB & DBS on same day, same time and UOB charged me more

The exchange rate is determine by PayPal and not your bank so it make no different which bank you're using. Beside exchange rate, $1 fee apply on cashout amount which is less than $200 from Paypal side.

In conclusion your bank do nothing as a receiver.

hey

is there anyone who knows a egold - paypal exchagner?

thanks and sorry for the ot

i doubt there is
but from paypal to cash can lor

Thanks for the info I think paypal uses xe.com's rates thou.
I won't be surprise if there are some banks who might add a service charge for this.

The rate is much lower, if not PayPal can't earn I just cashout not long ago and the exchange rate is 1.48. Btw you can always check the exchange rate first before you're doing the actual withdraw

You can contact the bank first if you have doubt on the fee and that's what I did when I had my 1st withdraw . I'm using UOB and no charge at all.

Good info Oasis...
Thank you

I had transferred from paypal to both my DBS and OCBC account before. No bank charges on the banks side. The transaction fees I pay is at paypal's side.

Not too certain about UOB though. Even for local transfer from my DBS to UOB, UOB charges a transaction fee.

the best would be to find another fellow singaporean who wanna buy your paypal and do it privately (PayPal don't allow such exchanges).

Paypal's exchange rate is always 2.5% below market rate. This is how they earn. You can find this inside their help page.

And do take note that Paypal's exchange gives 2 exchange rate per day at 0300hrs and 1500hrs respectively. No change in exchange rate on weekends though.

Hope that helps you to monitor your exchange rate.

thanks fellow Singaporean for sharing the info here...
nice to meet all....