UK Resident - should I open a $US paypal account

[Gadget-]

Hi Folks,

I already have a GBP (pounds sterling paypal account), and I receive money to that account.

Someone has paid me in US$, so I am now wondering whether to convert this payment into GBP, or perhaps open a US$ account.

My questions are:

1) I get quite a few payments from the US,  so would it help me/my customers by having a US$ account?

2) When I get the paypal option to hold the payment as US$ (as opposed to convert to GBP), does this enable me to open a paypal account in US$, and (more significantly) will there be a detrimental side to this? Like exchange rates/fees etc..

3) If I accept the US$ payment, and open a US$ paypal account, do I have to go through the hassle of registering my personal details again, or will this just be picked up from my existing GBP sterling account?

Hope that makes sense.

Thanks for any help offered.

Kind regards,

Gad

[PayPal_Siobhán]

Hi there Gadget,

You can only have a US PayPal account if you have US financial details and an address in the US.

When you accept money in multiple currencies you can have multiple account balances. I would advise adding USD to your currency balances on your current UK account.

Here's how to accept money in a new currency:

1. Go to www.paypal.co.ukand log in to your account.
2. Click 'Profile' near the top of the page.
3. Click 'My money.'
4. Click 'Currencies' beside 'PayPal balance.'
5. Select the currency you want to add.
6. Click 'Add Currency.'

Hope this helps!

Siobhan

[Coyzer]

So I'm expecting a US$ cheque from a Paypal unrelated source, but I would like to "lodge" it into my UK Paypal account and use it to purchase things in US$. Is there a way for me to lodge a US $ cheque in Paypal??

Thanks in advance

[PayPal_Siobhán]

Hi there Coyzer,

This is not possible, you can only add funds to your PayPal balance from a UK bank account by clicking on ‘Add Funds’ near the top of the page.

Hope this helps!

Siobhan

[Coyzer]

Siobhan,

This isinconsistent with the info provided here

https://www.paypal-community.com/t5/Adding-and-withdrawing-money/I-want-pay-to-my-paypal-account-how...

It looks like I can send a draft to Paypal in Dublin. Is that correct?

Thanks

Coyzer

[PayPal_lucy]

Hey there,

You can only send a cheque in order to cover a negative balance on your PayPal account.

To add funds you can only do it directly from your bank account.