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- FYI Skrill + SCB = Low conversion rates
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FYI Skrill + SCB = Low conversion rates
Dec 2, 2013 04:38:03 AM Edited Oct 30, 2014 02:14:53 PM by Mutee u
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This is to inform the Pakistani freelancers here who use Skrill with Standard Chartered Bank, I withdrew $103 to my SCB account from Skrill and only got Rs 9,773.79 (94.8/dollar). While on SCB's own online banking site, the current buying and selling rate is around 107/dollar.
If you have the option, do avoid SCB as their rates have really gone down, I used to get, somewhat ok rates 6 months back. If you have a suggestion for me regarding this the topic, please do let me know. Is MCB better?
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Dec 2, 2013 10:08:21 AM Edited Oct 30, 2014 04:23:20 PM by Mutee u
Thanks Stefan. Actually they deducted around $4 as withdrawal fee and my initial amount was $107. My calculations are based on the amount Skrill was transferring to my bank - you get an email notice once you request withdrawal and once again when it is processed and both these emails contain the amount, mine was $103.
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Dec 2, 2013 12:45:07 PM Edited Oct 30, 2014 04:23:22 PM by Ayesha S
Hi Mutee,
Check with your branch as to what exact amount was credited to your account and if any deductions were made. I withdrew to my local currency account in SCB this week and got Rs 18xxx for $170. The exchange rate was clearly more than what you got, and I used a USD wire.
Ask your account manager the exact amount in dollars that got credited to your account maybe some back along the (used by Skrill) deducted fees?
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Dec 17, 2013 12:01:30 PM Edited Oct 30, 2014 04:30:59 PM by Mutee u
Turns out that Skrill is deducting extra amount, $10 in my case (found a few others on FB with same problem). I have no clue why they deducted this amount, its not the regular intermediary