Withdrawing money in another currency

[ddalley]

We have recently taking orders from Europe and payment in Euro's, I was quite surprised to find that we are forced to use Paypal's exchange services (charged about 2.5%) to get our money out.  i.e. we can't transfer euro's into our Euro bank account. 

The primary currency on our account is British Pounds - GBP, we can withdraw from paypal in either USD or GBP, no idea why USD is allowed but not Euro's??

Looks like the only options is for us to create a new paypal account that has Euro's as it's primary currency.

Any other suggestions?

[PayPal_WarrenG]

ddalley,

I can understand the disappointment in not being able to withdraw funds in your desired currency.  Creating a new bank account and hosting the funds in a different currency would not change this situation. You can create multiple balances in your PayPal account and host a variety of currencies all within the one account.

The reason for the inability to withdraw in select currencies is based on banking laws for the areas in which we live.  As an international business, PayPal is required to follow the laws and regulations for every area in which we do business. 

To make sure we are in compliance with the regulations of each country in which we do business, the PayPal accounts are designed to allow withdrawals in the allowed currencies for that country and any other currencies would have to be converted before withdrawal.

I hope this clarifies the reason you are unable to withdraw in Euros. 

PayPal_WarrenG