Is it possible to use a USD account in the Channel island Jersey or UK?

[fabulousfinds4]

I am trading worldwide which means USD is the currency of the day. But there appears to be no way to tie the account to a USD account in Canada or the UK or Chanel Islands.... Is it possible?

Do I actually need to use the bank account or can all transactions with Paypal be made without it. (I.e. I just send any money to my USD account from Paypal if I want to).

Can I have a dollar account and a USD account with Paypal and just use the USD account but link the account via the Canadian one?

It really does seem quite bizzarre that a bisiness account is not6 allowed to trade in USD which is the  world standard for trading

[sharpiemarker · Accepted solution]

If you have a non-US PayPal account, you can start a USD currency balance in your account so you can receive USD and send in USD.  

To withdraw, you must add a US soil bank where allowed.  It will not work with say a Canadian Bank or UK bank account that carries a USD balance linked to the PayPal.  PayPal will always convert your USD to local currency of your PayPal acct in the country you opened it and then the bank converts it back to USD.

So for example, you have a PayPal Canada account.  You start a USD currency balance in the account so payments sent and received in USD will go in that currency balance.  When you withdraw, you have to add a bank account opened on US soil so that withdrawls will remain in USDs.  If you added and withdrew to a Canadian bank account that holds USD, PayPal will convert your USD to CAD, the local currency of the PayPal account and the Canadian bank and they converts it back to USD since that account holds USD.

[sharpiemarker · Accepted solution]

Use this link to see which countries you can open PayPal account that lets you add a US bank account to withdraw to:

https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-country-functionality-outside

If you are in the UK, start a USD currency balance by clicking Manage Currencies link on the Money page. You can even make USD, your primary currency.

When you withdraw to your UK bank, PayPal will convert the USD to GBP.  If you want to keep it as USD, you need to open a bank account on US soil and link it to your UK acct to keep the withdraws in USD.

You can still use a PayPal account without a bank added but you will come across limitations in terms of having to verify your identity.  You do not have to withdraw it but you will be required to add one.  And since you are doing business transactions some PayPal services require fully verified PayPal accounts to use.

"Can I have a dollar account and a USD account with Paypal and just use the USD account but link the account via the Canadian one?"

What!? Not sure I understand this question. lol

Are you asking if you can add a Canadian bank to US PayPal account?  The answer is no.  PayPal is a US company and it allows US users if they are traveling or living abroad and still maintain a US residence/bank account they can withdraw to their US soil bank.

[fabulousfinds4 · Accepted solution]

Thanks.

Any companies similar to Paypal that are more receptive to international business?

[sharpiemarker]

Get a credit card merchant account.  Set up a third party shopping cart for your website that lets you hook up to your credit card merchant account.