MinimalFees

Someone mentioned using paypal to exchange currencies. How do you do this? Do you have to have multiple accounts, one each in the various currencies?

Ashlyn

I have clients and sites in various countries around the world. I receive payment in whatever currency they pay in. Then I check the exchange rates for each currency and calculate whether it's worth cashing in right now, or whether it's worth waiting until the value goes up so I make a profit.

Kaiser

I hold multiple currencies in one account and exchange them as the currency rates switch to being in my favor. There is definitely good scope to increase your income if you know enough to watch the changes in currency rates.

peter

I wish that I had kept more money in my paypal account! I live in the UK and the price of the pound has dropped drastically. If I had kept money in my paypal and cashed it out now then it is worth about 50% more than it was =|