exchange rate today wired money

[Accompong]

Jul 5, 2012 Authorization To *BNS 42 MAIN STREE,ANTA CRUZ J,,JM Completed Details -$232.98 USD
Jul 5, 2012 Temporary Hold Placed Details -$232.98 USD
Jul 5, 2012 Temporary Hold Removed Details $232.98 USD
Original Authorization:
Total Payment: -$232.98 USD
-$231.98 USD

Merchant: *BNS 42 MAIN STREE,ANTA CRUZ J,,JM
Purchase Date: Jul 5, 2012
Authorized Amount: -$232.98 USD
Authorization Date: Jul 5, 2012
Time: 09:08:05 PDT
Status: Completed
Net Amount: -$232.98 USD
Status: Completed

I posted above a copy of my PayPal transaction receipt where I sent funds for my house maintenance/construction where $20,000 Jamaican Dollars was withdrawn from a Santa Cruz ATM Machine at the Bank of Nova Scotia (BNS). The rate I got was $85.84 and it only cost me $1.00 US to complete the transaction.

$20,000 is the limit someone can draw per day from a Nova Scotia ATM and the National Commercial Bank (NCB) will allow up to $30,000 Jamaican Dollars per day.

I am not suggesting that everyone's friends in Jamaica can be trusted with an ATM Card so I am only pointing this out for people who need to transfer money at frequent intervals. It has worked well for me over the years and I have never had any problems with it. In fact, if the money is not in your PayPal account, the machine will not allow a transaction to take place.

I also have a card to this account and control the PIN numbers of BOTH cards for added security. When I need to purchase things either here or in Jamaica, I use this card and account and not my regular bank account.

Peace and Guidance

[original spanky]

great response thanks.
forgot to account for the transfer fee. that would wipe out any profit.
will just continue at the cambio

[Ohio_Buckeye_1]

Accompong - thanks for tip.
I've been wondering if PayPal transfers worked to Jamaica.
That $1 fee is much better than MoneyGram and Western Union.

[NKY]

I posted above a copy of my PayPal transaction receipt where I sent funds for my house maintenance/construction where $20,000 Jamaican Dollars was withdrawn from a Santa Cruz ATM Machine at the Bank of Nova Scotia (BNS). The rate I got was $85.84 and it only cost me $1.00 US to complete the transaction.

I'm not suggesting that everyone's friends in Jamaica can be trusted with an ATM Card so I am only pointing this out for people who need to transfer money at frequent intervals. It has worked well for me over the years and I have never had any problems with it. In fact, if the money is not in your PayPal account, the machine will not allow a transaction to take place.

I also have a card to this account and control the PIN numbers of BOTH cards for added security. When I need to purchase things either here or in Jamaica, I use this card and account and not my regular bank account.

Peace and Guidance

Sounds great, but I'm a little confused about going this route. (could be the 100 degree days have fried my brain ) Are you sending the money to a friends bank account or do YOU have a personal account in Jamaica? Or is this an credit/debit card that is connected to your paypal account?

Thanks

Mark

[Accompong]

Sounds great, but I'm a little confused about going this route. (could be the 100 degree days have fried my brain ) Are you sending the money to a friends bank account or do YOU have a personal account in Jamaica? Or is this an credit/debit card that is connected to your paypal account?

Thanks

Mark

Hi Mark. I can see what this may be confusing. This should clear it up. Yes, this is a Debit Card issued by PayPal. The reason I don't like to use one connected to my regular bank account is that any amount of money that is in that account (and possibly more if the card is used at a store) becomes vulnerable.

I have a limited balance at all time (except when I am home in Jamaica) and have it set up in PayPal that any time I (or someone else) uses the card, I get an email alert and that lets me be more reactive to any fraud attempts. I can go in and change a PIN and/or file a dispute right away. Nothing is perfect but this works best for me.

Because I live in Jamaica much of the year, I need to send funds on a more regular basis than most people and I thoroughly trust my best friend, Marshall, whom I have known for over 20 years.

I used to use MoneyGram, Western Union etc. but all of them are just too expensive and the ATM is immediate assuming I have put money in the PayPal account.

Peace and Guidance

[NKY]

Hi Mark. I can see what this may be confusing. This should clear it up. Yes, this is a Debit Card issued by PayPal. I used to use MoneyGram, Western Union etc. but all of them are just too expensive and the ATM is immediate assuming I have put money in the PayPal account.

Very nice! I can't believe Paypal only charges a $1 fee and no foreign transaction fees. Better keep this on the down low because if too many people stare "beating the system" Paypal will probably start charging more.

Thanks

Mark