What does Paypal selling rate and buying rate mean?
You might notice that we are now posting 2 rates in the conversion of USD or United States Dollar. We used to post only the Paypal buying rate because most of our clients use this rate to exchange their Paypal USD funds to PHP.
If you are wondering why converting an amount from USD to PHP and back to USD again causes your balance to go lower, this article should help you understand.
We now post the buying rate and selling rate of Paypal’s USD currency because of the growing number of clients buying Paypal funds from us. You will see this post regularly update in our Facebook account 2 times a day.
What is Paypal buying rate?
Paypal buying rate is the rate which Paypal would pay you for 1 USD. You use Paypal buying rate if you are converting/exchanging your USD or United States Dollar Paypal funds to PHP(In this case). Thus, you are selling your USD funds to Paypal and Paypal is buying the USD funds from you. Here are sample scenarios to use the Paypal buying rate;
* When you withdraw your Paypal balance 100$(or any amount in $) to your Unionbank account
* When you convert your Paypal balance 100$(or any amount in $) to a PHP currency using Paypal’s currency manager
* When you use your Paypal balance 100$(or any amount in $) to buy something online costing in PHP currency
* Any transaction resulting to a conversion of your Paypal balance from USD to PHP currency
What is Paypal selling rate?
Paypal selling rate is the rate which Paypal would sell you 1 USD. You use Paypal selling rate if you are converting/exchanging your PHP(In this case) to USD or United States Dollar Paypal funds. Thus, you are buying USD funds from Paypal and Paypal is selling the USD funds to you. Here are sample scenarios to use the Paypal selling rate;
* When you purchase something online in USD currency and you only have PHP funds in your Paypal balance
* When you purchase something online in USD currency but don’t have Paypal balance, they charge you directly from your bank/card
* When you convert your Paypal balance in PHP to USD
* Any transaction resulting to a conversion of your Paypal balance from PHP to USD currency
If you thought Paypal only earns through the fees they collect you are wrong. Paypal also earns every time you convert your money from 1 currency to another. There are also many other ways they earn that you don’t know of, some are even unethical ways. So be careful in dealing with Paypal.
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