Even if you get a USD account you still wont get you money on the same day. PayPal has a delay of 3-4 days even on US banks. So there is no way you can rely on same day rates Steve ----- Original Message ----- | From: "Omingo Obiko" <edobie@gmail.com> | To: "Skunkworks Mailing List" <skunkworks@lists.my.co.ke> | Sent: Sábado, 18 de Enero 2014 11:20:54 | Subject: Re: [Skunkworks] Equity Pay Pal | Why not just get a USD account. Do FX only after you receive the | funds in USD. You can then transfer to ksh account on same day | rates... | On Jan 18, 2014 12:22 PM, "Okechukwu" < okechukwu@gmail.com > wrote: | | @Mickey - thats is with all banks, I have to repeat! - Get a USD | | credit/debit card and go and withdraw KES from the ATM - At | | withdrawal, you get a rate and at the end of the month on your | | statement, you get a different rate! This is because at the time of | | transaction, you are showed the current rate, but the actualy | | transaction at the bank never happens - your money is taken to an | | escrow account and the actual transaction happens 3-4 days later | | and | | the rate of the day applies - This does not necessarily mean you | | always lose, sometimes you gain - thats why a businessman worth his | | salt caters for exchange rate loses & gains! This is business, not | | some charity work. | | | if you are going to transact less than 100USD per month on this, | | you | | are better off coming to list and asking for those PAYPAL to Mpesa | | exchanges, then you do not lose money! | | | ./Ok3ch | | | On Sat, Jan 18, 2014 at 9:56 AM, Mickey Mickey < | | michaelakunga@gmail.com > wrote: | | | | @John you finally notice that is the game in equity broad day | | | light | | | theft they did it to me form Moneybookers to equity. | | | | | | @Okech you are mistaken, I understand that banks show exchange | | | rates | | | that differ on implementation, Yes. However, some banks when you | | | go | | | at the exchange counter (DTB and KCB in my experience ) and ask | | | the | | | rate they will tell the current figure and warn you that this | | | figure | | | applies today so if you want to transact go ahead, simple and | | | fair. | | | In Equity things are different what you are told at exchange | | | counter | | | before transacting is different from what you get. When I | | | launched | | | a | | | complain with Foreign exchange and gave him my statement, he | | | called | | | some guy somewhere and from his face and response I could tell | | | something was fishy. he finally told me and I quote "Boss, hawa | | | watu | | | sijui how they work me the figure I gave you is what I was sent | | | to | | | operate for the day, may be u see the manager". I simply stopped | | | any | | | international exchange using moneybookers direct to my equity | | | account. | | | | | | Best Regards, | | | | | | Michael Akunga. | | | | | | Freelance Research Writer, Web and App Developer | | | | | | Cell No: +254 726 174 815 | | | | | | E-Mail: michaelakunga@gmail.com | | | | | | Skype: michaelakunga | | | | | | Viber: +254 726 174 815 | | | | | | On Sat, Jan 18, 2014 at 11:39 AM, Okechukwu < okechukwu@gmail.com | | | > | | | wrote: | | | | | | | @John - this exchange rate discrepancy is normal for all banks | | | | - | | | | you | | | | only begin negotiating if you have more than 1,000 USD, so | | | | don't | | | | blame Equity. I have moved cash to my shillings account at 80/- | | | | when | | | | the rate hit 90/-, and on the same day, negotiated 87.5 with | | | | the | | | | same bank. | | | | | | | | | | ./Ok3ch | | | | | | | | | | On Sat, Jan 18, 2014 at 8:18 AM, John K. < kamau.john@gmail.com | | | | > | | | | wrote: | | | | | | | | | | | I have actually used this service once and I can tell you the | | | | | main | | | | | problem with it is the exchange rate that you will get. It's | | | | | just | | | | | plain ridiculous, when I did it I think the the USD to KES | | | | | rate | | | | | was | | | | | 88, and the transfer was done at 82. Did the math and I lost | | | | | around | | | | | 6% of the money. | | | | | | | | | | | | | | | Never used it again, 6% is just plain daylight robbery. Read | | | | | the | | | | | fine | | | | | print when using it. | | | | | | | | | | | | | | | On 18 January 2014 00:53, Brian Ngure < brian@pixie.co.ke > | | | | | wrote: | | | | | | | | | | | | | | | | I got the same message. | | | | | | | | | | | | | | | | | | | | | On Jan 18, 2014 12:33 AM, "Tony Likhanga" < | | | | | | tlikhanga@gmail.com | | | | | | > | | | | | | wrote: | | | | | | | | | | | | | | | | | | | | | | I finally got (official?) confrmation from | | | | | | | paypal@e.paypal.com | | | | | | | on | | | | | | | this partnership. No change in terms of service. | | | | | | | | | | | | | | | | | | | | | | | | | | | | Tony. | | | | | | | | | | | | | | | | | | | | | | | | | | | | _______________________________________________ | | | | | | | | | | | | | | | | | | | | | | | | | | | | skunkworks mailing list | | | | | | | | | | | | | | | | | | | | | | | | | | | | skunkworks@lists.my.co.ke | | | | | | | | | | | | | | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | | | | | | | | | | | | | | List info, subscribe/unsubscribe | | | | | | | | | | | | | | | | | | | | | | | | | | | | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | | | | | | | | | | | | | | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | | | | | | | | | | | | | | Skunkworks Rules | | | | | | | | | | | | | | | | | | | | | | | | | | | | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other services @ http://my.co..ke | | | | | | | | | | | | | | | | | | | | | | | | | | | _______________________________________________ | | | | | | | | | | | | | | | | | | | | | skunkworks mailing list | | | | | | | | | | | | | | | | | | | | | skunkworks@lists.my.co.ke | | | | | | | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | | | | | | | List info, subscribe/unsubscribe | | | | | | | | | | | | | | | | | | | | | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | | | | | | | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | | | | | | | Skunkworks Rules | | | | | | | | | | | | | | | | | | | | | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | | | | | | | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | | | | | | | Other services @ http://my.co..ke | | | | | | | | | | | | | | | | | | | | _______________________________________________ | | | | | | | | | | | | | | | skunkworks mailing list | | | | | | | | | | | | | | | skunkworks@lists.my.co.ke | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | List info, subscribe/unsubscribe | | | | | | | | | | | | | | | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | Skunkworks Rules | | | | | | | | | | | | | | | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | | | | | | | | | | | | | | | ------------ | | | | | | | | | | | | | | | Other services @ http://my.co..ke | | | | | | | | | | | | | | _______________________________________________ | | | | | | | | | | skunkworks mailing list | | | | | | | | | | skunkworks@lists.my.co.ke | | | | | | | | | | ------------ | | | | | | | | | | List info, subscribe/unsubscribe | | | | | | | | | | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | | | | | | | | | | ------------ | | | | | | | | | | Skunkworks Rules | | | | | | | | | | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | | | | | | | | | | ------------ | | | | | | | | | | Other services @ http://my.co..ke | | | | | | | | | _______________________________________________ | | | | | | skunkworks mailing list | | | | | | skunkworks@lists.my.co.ke | | | | | | ------------ | | | | | | List info, subscribe/unsubscribe | | | | | | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | | | | | | ------------ | | | | | | Skunkworks Rules | | | | | | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | | | | | | ------------ | | | | | | Other services @ http://my.co..ke | | | | | _______________________________________________ | | | skunkworks mailing list | | | skunkworks@lists.my.co.ke | | | ------------ | | | List info, subscribe/unsubscribe | | | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | | | ------------ | | | Skunkworks Rules | | | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | | | ------------ | | | Other services @ http://my.co..ke | | _______________________________________________ | skunkworks mailing list | skunkworks@lists.my.co.ke | ------------ | List info, subscribe/unsubscribe | http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks | ------------ | Skunkworks Rules | http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 | ------------ | Other services @ http://my.co.ke