Withdrawing money in USD instead of my local currency

[Friggasdotter]

Hi everyone,

I've recently added a new VISA card to my account. Unlike my former card that was in my local currency, Croatian kuna, my new card is in USD. However, when I try to withdraw money, PayPal automatically makes currency conversion into my national currency. I think it is only because I'm from Croatia so they asume that all my cards are in Croatian kuna? I see no option to change it, so I have written to PayPal (apparently, a friend had the same problem and PayPal stopped the unnecessary conversion after she sent them an e-mail). Anyway, I'd like to hear what you have to say about this.

[sanyix]

You can forget that.

Paypal do this to make you use their currency conversion, to rip you off, with a lot of money. They find and block every trick to avoid this, that's why they blocking payoneer, because with that people were able to avoid paypal's currency conversion ripoff.

Everyone should avoid paypal where it's possible. What i don't know is: why not the EU sanctions them because of their monopoly?

[temp201809261u]

Hello, Im from Slovakia (Eurozone) and in my FIO bank I have EUR and CZK bank accounts. I receive payments via PayPal in both CZK and EUR. I have linked in PayPal two bank accounts EUR and CZK with appropriate SK/CZ IBAN. But I can not withdraw CZK balance in CZK currency. During filling in transfer form PayPal informs me that CZK will be converted to EUR and then send to my CZK bank account! I do not understand why paypal thinks that my bank account is in EUR currency. I also tried to temporary change my primary currency on PayPal from EUR to CZK, but no success. I would like to transfer PayPal CZK balance to CZK bank account - so simple but impossible in PayPal!

I think PayPal should add custom naming of bank accounts firstly (many users request this feature for long years!) and enable to select real bank account currency when linking new bank account to avoid double conversion (PayPal from CZK to EUR and bank from EUR to CZK in my case).

[CitizenKane]

The main point is that PayPal makes 2.5% fee from exchanging your money. By making stupid rules up, they can pretend that they “must” convert your money to your countries’ currency before you withdraw it. I face the same problem. My main currency for my account is EUR, but I also receive many payments in GBP and USD. Although I have accounts in those currencies too, PayPal will ONLY allow me to withdraw money in EUR. Thus to get my own money, I need to pay them 2.5% each time, that is on top of a crappy exchange rate, so overall its more like 3-3.5% . Multiply that with hundreds of billions that are being moved around thru PayPal and you start understanding why they are so reluctant not to give up this lucrative fee of theirs that probably represents a large chunk of PayPal total corporate profits. Maybe if enough people complain, and send some well written letters to the regulators, something might change, although I am also sure PayPal has an army of lawyers on stand-by for such a situation.

[Ivaron]

You should contact customers service, I had the same problem and they fixed it in a one day.

[JupiPupi]

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@PayPal_Erica wrote:

Hi Friggasdotter,

I'm sorry to hear about the trouble this has caused. We can certainly get this updated for you! You would just need to reach out to us through one of our customer service channels and we can get it changed.

-Erica

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Hello! I have same proble, same currency (Croatian kunas)

Can we fix this? It's kinda urgent.

Thank You!

[sandypurins]

@JupiPupi

Call PayPal customer support for assistance... log in to your PayPal account, click on the "Contact" link which is at the bottom of most PayPal pages and select the "Call Us" option... the next page will provide you with a passcode and the PayPal phone number for your account.

Other contact options are Twitter via @AskPayPal https://twitter.com/askpaypal or Private Message on PayPal's Facebook page at...

https://www.facebook.com/PayPal

-Sandy

[PaulXYZ]

Hi Erica,

I called paypal to ask them the same question with this topic, just keep USD when withdraw to my bank account and keep my bank convert to local currency when they receive the withdraw but the support guy tell me that impossible. Paypal will automatic convert to my local currency when withdraw. But that exchange rate is very low, it is lower that 3.7 percent with my bank's exchange rate.

That is a lot of money loss because in the future I will receive a lot of money from my customer.

Please help.

Thanks.

[shua_01]

hi, i wanted to withdraw also in USD...

[Whac-A-Mole]

Canadian members can link a Canadian US dollars bank account and transfer US dollars to their bank account,US expatriates living in a foreign country can link their US bank account to their paypal account and transfer US dollars to their US bank account.

[hodikm]

Hi Erica, I am trying to avoid the same problems others in this thread experienced. My case is slightly different. My base currency with PayPal is CZK. I will be opening a bank account in US this summer. Will PayPal allow me to withdraw USD from my dollar balance? Obviously, I have no intention to receive CZK in my US account. In another discussion I read that PayPal recommends opening another PayPal account with USD base currency. Is that horrendous idea an official position of PayPal? Thanks