I am UK based but want to withdraw USD to my USA bank account.

[Cuckoo38]

I have a USD account in the United States and want to use it to withdraw from my Paypal USD account. Why do Paypal insist I can only withdraw as GBP?

Is there a way I can withdraw my USD to my USA based USD account? Seems a reasonable request.

[kernowlass]

@Cuckoo38 

Withdrawals to bank accounts is always in local currency.

[Cuckoo38]

Just to clarify, are you saying you are allowed to have multiple currency accounts in your Paypal account but you are only allowed to send/withdraw in the currency of your resident country. Is that correct?

If this is the case what is the point of having multiple currencies? If Paypal is going to insist on converting the funds to the users local currency at Paypals FX rate when the user sends or withdraws what is the point in having multiple currencies?

The result is the same as if they converted it when received into the users account.

[kernowlass]

@Cuckoo38 

You can 'send' in any currency that you want as long as you mark that currency as the primary one for the transaction you are making and the recipient accepts that currency.

However withdrawals to bank accounts have to be in local currency.

In some countries where you can withdraw to a credit card you may be able to withdraw in another currency if that is the currency on that card.

[Cuckoo38]

Thanks for your reply again. I've tried withdrawing onto a USD debit card but it gets rejected because it's registered to a UK address.

I've also tried sending funds to a USD business account in the US but that also gets rejected as being a "commercial transaction".

I'm asked to pay the transaction fees in USD only but when I use a USD account with a UK address it's again rejected. It does not give me the option to pay the fee from my Paypal balance.

I really don't see the point in allowing multiple currency accounts when you can only withdraw funds in your local currency even if you hold different currency bank accounts.

Would a commercial Paypal account allow withdrawals to different currency accounts?

[kernowlass]

@Cuckoo38 

 I've tried withdrawing onto a USD debit card 

I said in 'some' countries you can withdraw to a credit card in the correct currency.

I've also tried sending funds to a USD business account in the US but that also gets rejected as being a "commercial transaction".

You can't send friends/family payments to any business accounts, has to be a goods/services payment. Also were the funds cleared and not pending + had to marked USD as the primary currency for that transaction in your paypal wallet?  

I'm asked to pay the transaction fees in USD only but when I use a USD account with a UK address it's again rejected. It does not give me the option to pay the fee from my Paypal balance.

If you are paying a fee then again you must be sending a friends/family payment as only recipients pay fees normally.

Again that type of payment can't be sent to business accounts.

I really don't see the point in allowing multiple currency accounts when you can only withdraw funds in your local currency even if you hold different currency bank accounts.

ok

Would a commercial Paypal account allow withdrawals to different currency accounts?

Nope!

[Cuckoo38]

You can't send friends/family payments to any business accounts, has to be a goods/services payment. Also were the funds cleared and not pending + had to marked USD as the primary currency for that transaction in your paypal wallet?  

Funds are cleared. There is no option in my account to pay for goods or services. The "Pay Bills" tab only allows me to send payments to seven South American countries. I can send money via Xoom which automatically applies a fee with no option to pay from my Paypal balance. The remaining option is to withdraw to my my bank account which only allows after conversion of any currency to GBP using Paypals FX rate.

[Cuckoo38]

Cuckoo38

‎Mar-23-2023 11:53 AM

Hi, I answered both of these previously but for clarity:

"You can't send friends/family payments to any business accounts, has to be a goods/services payment."

The Pay Bills section only offers the option to send to 7 South American countries, no one else.

"Also were the funds cleared and not pending + had to marked USD as the primary currency for that transaction in your paypal wallet?"

Yes, the funds are cleared and USD selected for transaction.

[Windster]

Please keep in mind when you "SEND" the funds in any currency your recipient will incur a huge transaction charge. Paypal will charge your recepient 3% for receiving money and a 2% cross border charge(if they are not in the same country as you are) on top !!!