How to transfer PayPal money to a DOLLAR BANK ACCOUNT?

[leofordan]

I'm in the Philippines. Is there a way so I could transfer my PayPal money to a DOLLAR (emphasis because this is the most important detail) BANK ACCOUNT in the Philippines? I want to transfer my money asap but I prefer that it be kept in dollars because it's a stronger currency.

[sharpiemarker]

@leofordan 

Local PH USD currency bank account will cause double conversion because PayPal always convert foreign currency to local PHP on the withdrawal and then your local USD account will convert back to USD unless you link a US bank account that has a ‘routing number. You’ll need to open a Wise (aka Transferwise) Borderless or multi-currency account and establish a local bank account in the US that has a routing number. Note: It could be difficult/tricky to link US bank account issued by Wise so be prepared to call customer services for assistance if you get an error message or they might refuse to link it for you depending who you speak to. There is a 3% fee for US bank withdrawals.

[leofordan]

"Local PH USD currency bank account will cause double conversion because PayPal always convert foreign currency to local PHP on the withdrawal and then your local USD account will convert back to USD..." I'm willing to undergo this double conversion even if I lose a bit of cash in the process because I'm after GETTING DOLLARS into that local USD account. However, Paypal doesn't allow me to transfer to that local USD account ab initio. Can you help me find a way to do that?

[PayPal_Bindu]

@leofordan When you withdraw money from your PayPal account, it’s automatically converted to the primary currency of the country which your PayPal account is registered to. If you withdraw your balance in a currency other than the currency in which the balance on your account is denominated, you will additionally be charged currency conversion fees. You can find more details on our fees page. 
 

I hope this information helps!

Bindu

[Temp20220924A]

Hello! have you found a way on how to transfer from paypal to your Dollar account?

[leofordan]

Hi! Fortunately, YES. I suggest opening a Unionbank account with a VISA card. This allows transferring your dollars in real time.

[Bins1017]

I already registered on my union bank account and set the paypal primary currency to USD is this good to go for withdrawal?

[leofordan]

In my case, yes. However, it should happen in real time. If you don't receive your dollars instantly, there's a problem. Well, that's how it worked for me.