Paypal EURO and STERLING balance - transfer to UK based currency accounts

[b-c]

Hi,

I manage my account and receive payments in EUR and GBP balances.

I also use a UK based bank account with STERLING currency account and EURO currency account.

My STERLING account is linked to my GBP balance in Paypal, so I can withdraw the GBP balance, but what about EURO ??

It has been said in this post : 

https://www.paypal-community.com/t5/Fees/Paying-money-to-a-Euro-account/td-p/253368

that I would be able to link my EURO currency account in a UK based bank to my EURO balance in Paypal,

so I would be able to withdraw the EUR balance directly to the EUR currency account.

However how to link these accounts and verify the euro currency account if I can only receive the verification 

deposits in GBP ??

As Paypal says the 2 small verification deposits are only sent in GBP, so if I link my EUR account, these deposits

will most probably fail, correct ?? 

Or is there any other way to do this ?

thanks

[moDecor]

I think we can withdraw major currencies from paypal without converting, Otherwise paypal will not have bellow Withdrawal Fee  table

https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside

 I think we need to speak with paypal support around 30 to 50 times, till someone will fix the issue ? 

[moDecor]

Finally able to add a EURO Bank account to my paypal.  But now paypal first converts my EURO Balance to GBP and than transfer GBP and finally my Bank will convert it again to EURO.  It is simply killing. 

Bellow what does paypal shows ?

Review your withdrawal request details

Your funds can take up to 3 working days to appear in your bank account.

Name on Bank:    Account XYZ   Ltd

From This Balance:   Euro Balance Amount €30.00 EUR

Exchange Rate :  1 Euro = 0.814896

British Pounds Gross Amount :  £24.44 GBP

To:  United Kingdom HSBC BANK PLC x-12343

Withdrawal Fees:  Free

[kernowlass]

Thats why i keep saying you need a UK sterling bank account to attach to a UK paypal account.

If you don't then you suffer with the exchange rates.

[moDecor]

But according to bellow rates table:  we can withdraw Euros by paying 5 Euro fees ?   ( it means we can transfer paypal Euro Balance to EURO Bank Account registered in United Kingdom ) 

https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside

Bank Branch	Currency	Withdrawal Fee	Return Fee
United Kingdom	 EUR	         €5.00 EUR	         €0.50 EUR
United Kingdom	 GBP	         £0.00 GBP	         £0.50 GBP
United Kingdom	 USD	         $8.00 USD	         $0.50 USD

[moDecor]

Dear kernowlass,

I think you are not getting my question, 

We need to transfer our paypal Euro currency balance  to our Euro currency Bank account. 

Both our paypal and euro currency bank accounts  are registered in UK. 

Accoridng to bellow Post, we can transfer Euro Balance to Euro Bank account in UK.  

https://www.paypal-community.com/t5/Fees-Archive/Paying-money-to-a-Euro-account/td-p/253368

[Misti]

Hi there

Did you manage to solve this with PayPal?

I just faced with the same problem: EUR > GBP > EUR (double conversion to transfer funds from EUR to EUR). 

Looks stupid and pricey. 

Thank you. 

[moDecor]

After strugging for weeks and weeks ( loads of email and calls ) i fedup and stop thinking about it.  

They don't have any solid answer obout it as well. ( but worth trying 🙂 

Please update me if you got any success. 

Regards,

[La_Basse_Cour]

Nothing but the sound of silence from PayPal themselves, I see!  I have a similar problem, though not exactly the same, which I'm about to raise as a new topic.  I live in France but I have a UK sterling bank account and a UK paypal account from when I lived in the UK. I can't change the address on the PayPal account because the system only allows to input UK addresses (unlike our UK bank, which has a French address and our bank is happy with it).  Since moving abroad I've continued to use PayPal for without problem to take sterling payments from UK customers.  The money stays in the UK and is never converted to Euros - we transfer it to our UK sterling bank account.  Recently I've been asked to provide address verification details in the form of a bill, but of course the address won't match.  I've contacted PayPal via the "HELP!" buttons several times over the last three months but I've had no reply.  I wonder if there's any chance of PayPal addressing (no pun intended) the problem?  If I hear anything I'll post here again to let you know.

[sanyix]

This is not a bug, but a feature... for paypal... this way they can cut even more money from you. They are just greedy...

[nags]

I have the same problem, Ive got Euros in my paypal account that I can only get into my UK bank by using Paypals exchange rate, which is loaded 2.5%.

What you can do is, try to buy stuff in Euros that you would otherwise buy in Sterling.

Recently I bought some stuff from China and they wanted payment in USD, so instead of converting my Sterling to Dollars, I converted my Euros to Dollars. I still had to pay the 2.5%, but at least it was only one conversion, not two.

The ideal solution would be to "swap" currencies with someone who has Sterling they want to convert to Euros.

You would have to trust each other obviously, but it would cost nothing.

Anyone out there like to do that?