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"What sucks, of course, is that the user got double-whammied on the currency conversion, but I really hesitate to blame PayPal for this... if anything, I blame
by praptak 14y ago
"What sucks, of course, is that the user got double-whammied on the currency conversion, but I really hesitate to blame PayPal for this... if anything, I blame the Indian banking system, which has decided to put in place the laws that state you aren't allowed to hold balances with your credit card processor"
This is clear, but does the law also force PayPal to do the conversion themselves (and charge the vendor for both conversions in case of chargebacks?) It looks like they saw the law as an opportunity to screw vendors.
- yashg 14y ago//they saw the law as an opportunity to screw vendors.// Precisely! It would be in PayPal's interest if people keep the money in their PayPal account because they don't pay any interest while they themselves can earn an interest on that sum. Now that RBI forces them to clear the account by the end of the day, they resort to whatever means they can make an extra buck.