Disable currency conversion for money transfers to Revolut?

[essimoon]

Hi!

I'm a user in Germany trying to withdraw US-Dollar to my Revolut dollar account. When I try to finish the transaction I always get the money converted to Euro. The conversion fees in combination with the exchange rate is just a joke. Paying 50 dollars for a 800 dollar transfer. I just want to transfer the dollars without currency conversion.

Can someone help me out?
Thanks and best regards,

Simon

[sharpiemarker · Accepted solution]

@essimoon 

Check if the Revolut dollar account is a US bank account that has a “routing number”, otherwise PayPal will always convert USD or foreign currencies to your PayPal account’s opening currency* on the withdrawal. See Geld abbuchen section.

*When you open a PayPal account, it is configured for use with the opening currency of your account. The opening currency of German PayPal account is euro (EUR).

You can also ask PayPal customer service to set a card’s denomination to USD and transfer USD to that card. It can take 3-5 business days for the transfer to complete.

Keep in mind that:

- The PayPal default or primary currency is the sending/requesting currency and could be separate/different from currency (account opening currency) used on the withdrawal.

- Also, withdrawing to a US bank linked to a non-US PayPal account will cost 3%.

- See withdraw options/fees for Germany: Entnahmen aus PayPal

- Companies like Revolut, Wise are banking and currency ‘middlemen’, not registered banks and don’t provide banking facilities in the proper sense of the word.

- Virtual banks/cards aren’t always compatible with PayPal can have spotty performance, such as delays, blocks, transactions go missing, suddenly unlinked from PayPal. You want to link bank that has physical bank branch locations.

- To avoid the hassles of currency conversion, request money/invoice/accept payments only in EUR.

[garck]

PayPal is determined to stop people converting any currency outside it's extortionate system.  After 20 years as a happy customer I'm looking for alternatives as I am recently having to deal with payments in dollars in mu UK PP account.  Their rates even compared to banks is shocking.
Utter rip-off.  I'm now glad eBay is no longer part of PayPal.
I hope you lose many more customers like me, PP.