August 10, 2010

What is PayPal's transaction limit- Exchange Rates, Currency & Transaction

Image used to convey the idea of currency conv...
What is PayPal's transaction limit?
The maximum amount allowed for a single transaction is $10,000 USD by a PayPal member. If you don’t have a PayPal account, you can send a maximum of $4,000 USD for a one-time, single transaction.

For PayPal members living outside the U.S., the maximum transaction limit depends on the currency in use:

  • EUR - 8000

  • CAD - 12500

  • GBP - 5500

  • JPY - 1.000.000

  • AUD - 12500

  • CHF - 13,000

  • NOK - 70,000

  • SEK - 80,000

  • DKK - 60,000

  • PLN - 32,000

  • HUF - 2,000,000

  • CZK - 240,000

  • SGD - 16,000

  • MXN - 110,000

  • HKD - 80,000

  • NZD - 15,000
If you live outside of the U.S. and do not have a PayPal account, your transaction limit may vary.

Currency - In economics, the term currency can refer either to a particular currency, for example the US dollar, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of money deposited in banks (sometimes called deposit money), ownership of which can be transferred by means of cheques or other forms of money transfer such as credit and debit cards. Deposit money and currency are money in the sense that both are acceptable as a means of exchange, but money need not necessarily be currency.

Historically, money in the form of currency has predominated. Usually (gold or silver) coins of intrinsic value commensurate with the monetary unit (commodity money), have been the norm. By contrast, modern currency, as fiat money, is intrinsically worthless. The prevalence of one type of currency over another in commodity money systems has arisen, usually when a government designates through decrees, that only particular monetary units shall be accepted in payment for taxes.

Transaction - A transaction is an agreement, communication, or movement carried out between separate entities or objects, often involving the exchange of items of value, such as information, goods, services, and money.

  • Financial transaction

  • Real estate transaction

  • Transaction cost

  • Transaction mechanism

  • Database transaction

  • Atomic database transaction

  • Transaction processing

  • POS Transaction
Exchange Rates - In finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency. For example an exchange rate of 95 Japanese yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 95 is worth the same as USD 1. The foreign exchange market is one of the largest markets in the world. By some estimates, about 3.2 trillion USD worth of currency changes hands every day.

The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.

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