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Unsure if I am in the right forum here as I am Australian. I couldn’t find an Australian Paypal help forum.
I am also unsure if this particular topic belongs in this section. It seems to most suit the “Adding and Withdrawing Money” label.
A summary of my problem is that Paypal wont allow me to withdraw from my USD balance *unless* I exchange it into AUD first.
I have a business problem that I have sourced to Paypal.
I possess a USD Foreign Currency Account that I use to make International Bank Deposits.
The problem that I have encountered is when I am paid through Paypal there is *no way* to get USD out without going through *2 lots* of currency conversion fees. One when Paypal add 2.5% to exchange USD to AUD and the second one being when my bank converts the AUD to USD back again. Essentially it becomes a 10% currency conversion fee all due to Paypal.
I have tried several times to discuss this with Paypal’s customer support but they tell me different things. One time they told me that all I need to do is to change my account to a USD account then I will be able to withdraw in USD solving the problem. The next day they told me that it is “not at all possible” to withdraw from Paypal in USD.
I have looked extensively for solutions to this problem.
I really hope someone here could look into it for me (perhaps a Paypal employee) and propose a solution because it simply is no longer feasible for me to use Paypal otherwise.
Looking back on my notes I can see when I first phoned to enquire about withdrawing in USD I was told that;
":...you set your account's primary currency to US Dollar, then you can withdraw in USD."
Now the next day, as I outlined in my first post they say; "No, that is not at all possible."
I just get the feeling that I am being fooled around here by Paypal.
Hi there jamiz,
Withdrawals around the world can only be done in local currency of the PayPal account unless a US bank account is attached to the PayPal account. That is your only way around withdrawing the funds in Australian Dollars. All accounts around the world can add and withdraw to a US bank account as we are a US company.
Unless you have a bank account registered in the US added to your Australian PayPal account you would have to withdraw in Australian Dollars I'm afraid.
I hope this information helps you