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Investing In Different Currencies Through PayPal?

 
Anonymous Coward
User ID: 27250682
United States
01/29/2013 05:44 PM
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Investing In Different Currencies Through PayPal?
I have a question about investing in difference currencies through PayPal. When you transfer money to someone you can send it in different currencies and it automatically converts it at the current rate (I don't think there is a fee). Has anyone tried this, and what are your thoughts on it? I know it won't make huge profits, but it seems like an interesting way to make a few bucks.
Anonymous Coward (OP)
User ID: 27250682
United States
01/29/2013 05:47 PM
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Re: Investing In Different Currencies Through PayPal?
bump
Anonymous Coward
User ID: 30079403
United States
01/29/2013 05:47 PM
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Re: Investing In Different Currencies Through PayPal?
There's just one catch........


YOU"RE DEALING WITH PAYPAL. There can't be any profit in it for you.
Anonymous Coward (OP)
User ID: 27250682
United States
01/29/2013 05:48 PM
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Re: Investing In Different Currencies Through PayPal?
There's just one catch........


YOU"RE DEALING WITH PAYPAL. There can't be any profit in it for you.
 Quoting: Anonymous Coward 30079403


That makes no sense lol...
Anonymous Coward
User ID: 19540516
01/29/2013 05:49 PM
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Re: Investing In Different Currencies Through PayPal?
The converting rate between the currencies is bad and not to your advantage.
Anonymous Coward (OP)
User ID: 27250682
United States
01/29/2013 05:50 PM
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Re: Investing In Different Currencies Through PayPal?
The converting rate between the currencies is bad and not to your advantage.
 Quoting: Anonymous Coward 19540516


What do you mean? Does PayPal take a conversion fee or something?
Anonymous Coward
User ID: 31708378
United States
01/29/2013 05:52 PM
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Re: Investing In Different Currencies Through PayPal?
There's just one catch........


YOU"RE DEALING WITH PAYPAL. There can't be any profit in it for you.
 Quoting: Anonymous Coward 30079403


That makes no sense lol...
 Quoting: Anonymous Coward 27250682


If youve ever dealt with paypal it makes perfect sense.
Anonymous Coward (OP)
User ID: 27250682
United States
01/29/2013 05:55 PM
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Re: Investing In Different Currencies Through PayPal?
There's just one catch........


YOU"RE DEALING WITH PAYPAL. There can't be any profit in it for you.
 Quoting: Anonymous Coward 30079403


That makes no sense lol...
 Quoting: Anonymous Coward 27250682


If youve ever dealt with paypal it makes perfect sense.
 Quoting: Anonymous Coward 31708378


I've transferred more than $10,000 to people and my bank account over the past year... I haven't paid any fees or lost any money.
Anonymous Coward
User ID: 19540516
01/29/2013 05:57 PM
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Re: Investing In Different Currencies Through PayPal?
The converting rate between the currencies is bad and not to your advantage.
 Quoting: Anonymous Coward 19540516


What do you mean? Does PayPal take a conversion fee or something?
 Quoting: Anonymous Coward 27250682


If you would normally get 80 Euros for 100 Dollars. Paypal will just give you 75.
RAe
User ID: 33191635
United States
01/29/2013 05:58 PM
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Re: Investing In Different Currencies Through PayPal?
I used that method to hold some singapore dollars, was bad idea, should have used it to buy more silver.
Anonymous Coward
User ID: 33291506
Netherlands
01/29/2013 05:59 PM
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Re: Investing In Different Currencies Through PayPal?
the bank always wins;)
Anonymous Coward (OP)
User ID: 27250682
United States
01/29/2013 06:00 PM
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Re: Investing In Different Currencies Through PayPal?
The converting rate between the currencies is bad and not to your advantage.
 Quoting: Anonymous Coward 19540516


What do you mean? Does PayPal take a conversion fee or something?
 Quoting: Anonymous Coward 27250682


If you would normally get 80 Euros for 100 Dollars. Paypal will just give you 75.
 Quoting: Anonymous Coward 19540516


Makes sense. Kind of what I thought, looks like that's the case with what everyone is saying!
Anonymous Coward (OP)
User ID: 27250682
United States
01/29/2013 06:00 PM
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Re: Investing In Different Currencies Through PayPal?
I used that method to hold some singapore dollars, was bad idea, should have used it to buy more silver.
 Quoting: RAe 33191635


Bummer man, thanks for the response though.
Anonymous Coward
User ID: 33270696
United States
01/29/2013 06:12 PM
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Re: Investing In Different Currencies Through PayPal?
NEVER trust PayPal/eBay. They like to seize accounts for no justifiable reason and steal your funds for 6 months no matter what the fiat currency is. Then they pay you back without interest after putting your funds in FX derivatives. That's how they float the fact that they're bankrupt and need liquidity to allege their solvency... using YOUR funds. PayPal/eBay are BANKSTER THIEVES no different than any other private corporation banksters.
Anonymous Coward
User ID: 9107938
United States
01/29/2013 06:15 PM
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Re: Investing In Different Currencies Through PayPal?
There's just one catch........


YOU"RE DEALING WITH PAYPAL. There can't be any profit in it for you.
 Quoting: Anonymous Coward 30079403


That makes no sense lol...
 Quoting: Anonymous Coward 27250682


If youve ever dealt with paypal it makes perfect sense.

 Quoting: Anonymous Coward 31708378


I move about 700k through my paypal account every year. Never had a problem.
Anonymous Coward
User ID: 33270696
United States
01/29/2013 06:20 PM
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Re: Investing In Different Currencies Through PayPal?
I move about 700k through my paypal account every year. Never had a problem.
 Quoting: Anonymous Coward 31708378

Bullshit. Nice try, shill. You obviously don't keep even $7 with PayPal.
Anonymous Coward
User ID: 30079403
United States
01/29/2013 06:35 PM
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Re: Investing In Different Currencies Through PayPal?
The only guarantee is to keep an acount on record with them for a minimal amount you're ready to lose. If transfering funds from paypal to your bank account....move it right away to an account they can't touch. They'll freeze an account on a whim with no recourse for you.

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