Withdraw funds using bank conversion and not paypal rates

[DreamsCradle]

Hi.

Im really fed off with paypal for this 2 months.

Being a client for 7 years and never had a problem, now in 2 months a lot of issues are appearing and im seriouslly considering open a law suit against paypal!

There is an option when paying something to let your own bank account to do the exchange rate to dolars to euros and otherwise, instead of letting paypal use his ridiculous conversion rate.

My question is where is the same option to withdraw to bank account?

Currently in any other place the dollar conversion to euro is quoted at 0,739 and at paypal its 0,72. what a "RIP OFF"!

I would appreciate if anyone could tell me where or how to procede my withdraw using my bank to do the conversion and not paypal.

I want to withdraw my funds to my bank account but using my bank account conversion rate not paypal one!

If that is not possible let me know so I will open a law suit against paypal right away for lack of transparency, and information.

And by the way Im portuguese and I do not have a major degree in English and after a lot of calls its easier to see I speak better english than some of the people hired to answer the calls in custom support!

[PayPal_Conor]

Hi DreamsCradle,

Welcome to the Community Forum!

You can choose your credit card issuer's currency exchange rate when making payments but i'm afraid this is not possible when withdrawing funds to your bank.

PayPal receive a wholesale rate quote from our bank twice a day to determine the retail foreign exchange rate to apply to transactions that involve a currency conversion and our currency exchange rates are competitive with conversion rates used by banks and by currency exchanges.

Before you make a withdrawal you can view the current currency exchange rate by clicking 'profile' near the top of the page, 'My Money' and then selecting 'currencies' beside 'Paypal balance'.

You can then enter the amount you want to withdraw and click 'calculate',

Conor

[Linas]

Hi Conor,

I'm actually with DreamsCradle on this one as it looks like Paypal is continuing to move the "RIP OFF the client" direction. Where is that hidden and mysterious function of "exchange rate of card issuer" when withdrawing funds to a credit cart? Paypal has been eliminating functions / options all over the place and that is directly related to the increased cost of the services/transactions. Needless to say - I have never received an answer from a numerous amount of questions - what is the reasoning behind this other than ripping the client off?

Best regards

Linas

[sanyix]

That's quite obvious that paypal is doing this to ripoff the users. A lot of people trying to find a way to bypass this, but paypal always cuts them. The only thing you can do is not using paypal, or get a VERY trustworthy friend in a country that uses the other currency, and send you money to him/her and tell to withdraw, then wire transfer to you...

[williamhuang]

Confirmed dirty approach of paypal to rip off users who try to withdraw. Paypal could have sent you the funds as is but they choose not to and enforce a conversion using very bad rate to make money off of it. I did some calculation. That amounts to near 3% of your withdrawal amount. That is an extra 3% on top of 4.4% already charged by Paypal to transfer the funds. Hidden criminal. Pure evil.