Withdrawing to VISA but PayPal still converts funds to local currency

[hello_1234]

Hello,

I've been a PayPal user for more than 10 years now and I'm working as a Freelancer. I normally receive funds in USD and I withdraw my client's payments to my VISA card. However, 2 days ago, PayPal started automatically converting the funds before I even withdraw it. I'm not sure why! It used to be PayPal charging me $5 USD for every card withdrawal but now it charges me in my local currency and converts it automatically before I withdraw it. Kinda like when you withdraw to bank and PayPal does the conversion for you. I don't like that. I prefer being charged in the currency I'm withdrawing and VISA doing the conversion for me. I did NOT change anything in my account settings.

I saw this article (/t5/About-Settings/Withdrawing-money-in-USD-instead-of-my-local-currency/td-p/827982) but it's not very helpful as I already called PayPal support and they asked me that they will refund the difference in the conversion once I received my funds. I don't think this method will work either. I'd rather have my account be able to withdraw the currency I received and VISA doing the conversion. How do I change this?

[victor_mro]

Same issue here, 3-4 days ago it was fine, now it makes the conversion to local currency by default. Wrote to support, still waiting for an answer. 

[victor_mro · Accepted solution]

Fixed by PP support in a couple of hours. Write to them 🙂

[hello_1234]

Yeah, same here! I contacted them about it after posting this and surprisingly so, they responded pretty quickly.

[tikboy101]

I got the same problem today. Its exactly the same as what hello_1234 has experienced.

As what I see, the only solution is ask support. Why doesn't Paypal remove that conversion? So it means, if customer won't complain on support, then they won't get their money back.

Paypal already has a $5 transaction fee.  Please put back the old way of transferring to VISA and that is not to include the conversion to local currency. Your conversion is very low compared to banks...    And this does not include asking the support always when we transfer our hard earned money.

Let us convert our money per our bank and you get your $5 transaction fee anyway. That is the fair way to do it.

[Jurica]

Hi Paypal,

I got the same problem today. Its exactly the same as what tikboy101 has experienced.

As what I see, the only solution is ask the support. Why doesn't Paypal remove that conversion? So it means, if customer won't complain on support, then they won't get their money back.

Paypal deduct $5 for transaction fee.  Please put back the old way of transferring to VISA and that is not to include the conversion to local currency. Your conversion is very low compared to banks.

For the record, I did not receive any policy update regarding on this, and the way you state in the transaction is ambiguous. Convertion amount without transaction fee but when you check in the bank account there is a deduction fee. It's a double jeopardy on our side. Low conversion with transaction fee.

Let us convert our money per our bank and you get your $5 transaction fee anyway. That is the fair way to do it.

[theQueen]

Hi Paypal,

I've got the same problem like the others that posted on this thread. I have withdrawn funds from paypal via VISA, however they automatically converts my money. I have used paypal for almost 2 years and withdrawing funds via VISA. For all I know, the bank usually converts the funds that I withdrawn. I am dissapointed because I got a lower conversion on my withdrawn fund plus, paypal deducts $ 5 (Visa Withdrawal Fee). On my opinion, this is unfair for us, Freelancer, because we already paying the fee when we are withdrawing money, plus other fees that our employer paid just to send us our hard-earned money.

I read this thread and in what I see, no complain, no solution to this problem. If paypal could only put back their old process in withdrawing funds via VISA, then everything will work just fine.

Like Jurica, I didnt receive any email either. Kindly let our bank converts our funds, and you can get your transaction fee. This way, we can benefit each other. Hoping Paypal could do a refund and solve this problem.

[Mari07]

I too have been this problem since last month.  Everytime I withdraw funds using my VISA, PayPal will have it auto converted.  I have asked help from support and have sent at least 3 emails already and no response from them.  Can anyone share how to get help?  Thanks!

[hello_1234]

call their toll free number instead. they have a very long wait time in the queue but they can fix it fairly quickly.

[stnr2k]

I too have been this problem since last month.  Everytime I withdraw funds using my VISA, PayPal will have it auto converted. I've already sent an email about this. Hope that they will reply soon