Withdrawing USD to UK-based USD bank account

Folktales
Member
Member

I just got off the phone with PayPal customer support and have also read the other threads on this topic.

 

Can PayPal get this sorted, please?

 

UK banks have no problem accepting USD (and EUR) into their USD/EUR accounts without conversion, so PayPal should be able to follow suit. Amazon and eBay, for example, can also do this just fine.

 

Rather than disappointing everyone customers with this "your bank account needs to be in America" excuse, why not let the them decide for themselves how they want to convert their currency, if at all? This flies in the face of the 'customer is king' policy American companies are so well known for.

 

But since PayPal is in no rush to fix this, my question for the community is: Has anyone found a workaround for this forced currency conversion so that they don't have to lose money unnecessarily?

 

Right now our company's USD balance remains in PayPal's online account because of this illogical processing method. I'm now thinking of switching to TransferWise or something similar. 

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2 REPLIES 2

Folktales
Member
Member

This is a moderator post from one of the other threads:

 


As you have a UK PayPal Account the bank account will revert to a GBP balance. This can be manually changed for you by giving a quick call to our Customer Support team,m alternatively please send us an email by clicking on the "Help and Contact" -> "Email Us" tab on the PayPal website.

But when I asked customer support to do this, they said it was not possible to change the currency to USD because of the bank's UK location. Pretty sure at least that should be possible, though.

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Whac-A-Mole
Frequent Advisor
Frequent Advisor

Paypal will convert your US$ into GBP and then your bank will convert it from GBP to US$,Paypal charges a conversion fee of 3%.

To get around it,why not send the GBP after Paypal conversion to your UK GBP bank account.

then wait for the right moment to convert it back to US$ outside Paypal.

It has to do with your Paypal account being in UK,and your local currency is GBP.

Ebay does not perform any banking operations,AMZN if it does,switch from Paypal to AMZN,it charges 15% fee for accepting creditc ard payments.it may have lowered its fee,check it out.

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