Saturday, December 8, 2007

I received my PayPal money today!

Just now, I login into my Public Bank account and check the debit/credit card section, nothing, then I just simply sleep in front my PC for 15 minutes, and when I woke up, I login into it again, everything done!

I saw the payment, feel so happy with my hard earn money, so touch~

A high exchange rate
Public Bank give me the exchange rate at 3.2974, which is high enough, compare to selling at 3 to someone you don't know!


Haha, very satisfy with the transaction time, although it is international transaction, but only 3 days since my withdrawal from PayPal on 5th December, while some Malaysia Interbank transfer need 2 or more days to transfer, stupid.

Here come my skates, Seba High Black!

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Che-Cheh said...

You're using Visa Electron right? I'm applying for one now.

Didn't know the rate has dropped to 3.2+

What is the withdrawal limit?

vhanded said...

che-cheh: because I am using the basic account for PayPal, so the withdrawal limit is USD500 only per month.

is 3.29 consider dropped? I thought it's quite a good change, consider the currency change at, is 3.34 only.

I am using Visa Electron, haha~

Supergirlfriend said...

Wah, vhanded..FINALLY...faster faster get your skates! Haha.. :p

hcfoo said...

congrats on your first batch of payment! If you sell you paypal on ebay, you might get 3.30.

Bryan said...

Dude, your 3.2974 rate is VERY misleading. You didn't take the $5 charge by PayPal into account.

I assume your 3.2974 rate was derived from $495 then you get RM1632.21, right? This RM1632.21 should be divided by $500 (because you were withdrawing $500, not $495), then you'll get 3.2644.

3.2644 is the real rate you get, not 3.2974.

Besides, you don't have to blur the transaction amount too. :-)

VHanded said...

Bryan: I do took into the USD 5 by PayPal into account, like what you assume, I minus USD 5 before convertd it, since every transaction will charge the fix USD5, and no point to include it, as it will result in different transaction rate everytime.

The purpose to blur it is to prevent friends from asking me to belanja this and that and to protect myself, no offense, and I believe anyone out there with PR3~4 can earn more than me.

Bryan said...

Obviously you still don't understand what I was talking about.

The $5 has to be included into your calculation because you are withdrawing $500, not $495. You should not minus $5 before converting it.

RM1632.21/$500=3.2644 (This is the correct calc.)

Let me give you an example similar to you minus off the $5 then calculate :

Imagine you want to change $500 with money changer, first the money changer "eat" you $5 then give you RM1632.21 in return. So, after you get the money you ignorantly go tell everyone you have very high conversion rate at 3.2974 (RM1632.21/$495) , while in fact you get only 3.2644 (RM1632.21/$500) rate.

PayPal can charge you $100, then change your $400 at 4.08 to give you RM1632.21. Will you happily tell everyone you are withdrawing at the rate of 4.08?

The bottom line is that all charges incurred during the withdrawal have to be counted as well, then only you know at what rate you are getting. Get it?

p/s: Earning how much only has little to do with PR.

VHanded said...

Conversion is done by the bank, not PayPal right? And think like this: I withdraw USD500, and I pay another USD5 as service charge, total money minus from PayPal account is USD505.

Then bank got the USD500, and convert to RM, total RM1629.51.

All the conversion rate I mentioned is the bank's conversion, PayPal do conversion? I don't think so.

Correct me if I am wrong.

I never see a money changer that charge by minus a fix amount first before conversion, most of them give a lower transfer rate only.

I am earning through sponsored post, so PR do play a major role in earning, for me, and for most people, I think.

And let's don't make this discussion feels like arguing, haha.

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