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Paypal confusion - it not using my credit balance.

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tomos:
@mahesh yeah, I think that's right
the credit/payment-in was in US$ and I thought I could spend that anywhere. Just that I didnt know what was going on. (Still not 100% sure - a lot of places you have to actually click the purchase button before being sent to paypal.)

wraith808:
I wonder what the reasoning behind that is?

Deozaan:
Sometimes I receive a PayPal payment in Euros (I'm in the USA) and whenever this happens I always have to manually accept or reject the payment. When I accept it, I am given the option to convert it to USD or create a new balance in EUR. I always convert to USD.

mahesh2k:
Wraith, that is not a bug or something that is causing it. It's common Forex exchange routine that is going on with payment processors. e.g. If I accept 10EUR in my paypal account then paypal forces me for the currency conversion. They make money in this process too. As per market rates, 1EUR=70bucks(for me) but paypal converts it as per their own rules and make rates something like 1EUR=68bucks and eat the remaining funds. Other than that they also charge few more bucks as a service tax and blah. Nobody notices that but when you're dealing with foreign currency you lose anywhere between 2% to 10% in currency conversion and transaction charges with paypal depending on your country.

wraith808:
I didn't think it was a bug or anything- I was wondering what the reasoning was behind not letting non-US users convert their currencies.  Like I said, it works in the U.S., and they have charged me conversion fees before.

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