To cash out money for USD you have received you must subject in +2% difference for PayPal foreign conversion rate to MYR then only you can cash out.

For example 3.9%+2%+RM2, like that you will not feel short changed.

Best practise is get your customer pay in Malaysian Ringgit, do not accept USD any more. Time to dished out USD.

Fix me if I am wrong.

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Added on November 1, 2009, 12:44 amSome website said is 2.5% OMG!

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Added on November 1, 2009, 12:47 amIf you accepting Malaysian Ringgit you will get some charges for

3.9% + RM2 for cross border transaction.
3.4% + RM2 for domestic tranaction.

But if you accepting like USD
3.9% + 2.5%/2% + RM2 for cross border transation+ PayPal conversion rate + cash out.

Wow!

This post has been edited by DAViS: Nov 1 2009, 12:49 AM

You will get less money in MYR if you accepting USD. All the while I thought is good to accept in USD but in the end doing oversea business I make less money. If you own a Malaysia issued credit card if you buying stuff from oversea paying in their currency bank will use Visa, Master or AMex their own rate of charge. Some overseas seller learned it in hard way, now they try to use their own country currency.

The above rate is correct if you accepting MYR 3.9% + RM2 for cross border transaction.
If you accepting USD it will be 3.9%+2% or +2.5% + RM2 for cross border transaction.

Let's going in math way.

For example fix the rate at 3.5 for now, I know is not real but you may refer the rates according to PayPal.

That fellow pay you USD1K.
When you have received the money paypal will get 3.9% off from USD1K
1,000
0.961 ×
--------------------------
961 =
You will get USD961 in your book account, you want to get your money out in USD if you live in US. You will get USD961. Nice isn't it?
The reality is you are living in Malaysia and your bank is in Malaysia. You want to cash out in MYR. Now you are USD961.
Let's assume is 2% rate.
961
0.98 ×
--------------------------
941.78 =

3.5 ×
--------------------------
3,296.23 =

2 -
--------------------------
3,294.23 =

You will get RM3294.23 in cold hard cash after the RM2 processing fees. What if 2.5% rate?
961
0.975 ×
--------------------------
936.975 =

3.5 ×
--------------------------
3,279.4125 =

2 -
--------------------------
3,277.41 =

You will get RM3277.41.

The next possible scenario is both of you make a deal to trade in MYR.
3,500
0.961 ×
--------------------------
3,363.5 =

2 -
--------------------------
3,361.5 =

That is what you are expecting in MYR 3361.50.
If you want to make MYR3500 firm, then add the 3.9% to the amount or you may add up RM2 for cash out fees if you want.
3,500
1.039 ×
--------------------------
3,636.5 =

2 +
--------------------------
3,638.5 =

This is the amount he/she should pays to you. You will receive MYR 3500 intact without loosing a single cent.

*Fix me if I am wrong*

He received less money, unless he/she ask you to add in more.

Just tested receiving money from a Malaysian member with Malaysian PayPal account in Malaysian Ringgit but PayPal still charge us 3.9% instead of 3.4% as published.

The item is RM405.

405
2 +
--------------------------
407 =

1.039 ×
--------------------------
422.873 =

0.961 ×
--------------------------
406.380953 =

This is the proper way for calculation if we do not make any loss.

This post has been edited by DAViS: Nov 2 2009, 12:52 AM

Debit card is too easy to apply as long as you have a bank account. PayPal fund trading is already illegal at the first place.

Serious seller will have seriousness in business, this tiny issue can solve it easily.

I can't find any solid reason but the one you mentioned. If your business is legal why worry about that?

You need different card.

Looks like my credit card payment for my customer is way more efficient than what PayPal can provide?

Just stop it. We don't have to find excuses to make the illegal fund trading as legal.

By the way how to unsubscribe this thread?

Thank you. Done that.

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Added on November 14, 2009, 1:48 pmDo not mix two different topic.
PayPal already mentioned clearly their fund is not for trading.
Bank Negara never recognise PayPal fund can be just buy and sell like pasar malam.


This post has been edited by DAViS: Nov 14 2009, 01:48 PM

Sometime I wonder how PayPal calculate the fees. The latest money I received from a member in here cost me 14.3% from the total amount.

Is there any changes for PayPal chargers?

I am getting sick receiving money via PayPal with their rate keep on changing from time to time.

This time the charges increased to 4.7975%! Loosing another percentage.