Question about currency exchange fees

[SFPositive]

L.s.,

I'm posting this here because Paypal does not offer telephone support anymore and is not responding to my emails or messages submitted via the Message Center. I've waited 14 days now and still no response.

When I try to transfer $50,000 USD from our account to our bank, it says there are no fees (screenshot 1), but yet there are currency conversion fees. It would be fair to state that there is a fee involved, because there clearly is one.

Secondly, it says the fee is 2,5%.
2,5% of 50k is $1.250 USD.
$50k - $1.250 = $48.750 USD

The live conversion rate (as per Google) of $48.750 USD to EUR is:

43.349,96 EUR.
Yet Paypal says the conversion minus the fees puts us at: 42.772,15 EUR (see screenshot 1).
This means there is a difference of 577.81 EUR
This is $649,94 in USD = 1,3% of the initial amount.

Where is this difference coming from?

Please don't tell me that Paypal is using a different conversion rate than Google is, because every time I check your rate and compare it to Google, Paypal's rate is ALWAYS more expensive, to the detriment of its clients.

As you can imagine, a 1,3% difference is a lot. That's 1,3% that of revenue that is directly eating into our profits.

Can you please explain to me how we can cash out our funds without being charged an extra 1,3% on top of your handsome 2,5% fee?

Alternatively, since we also have a Dutch USD bank account, we would like to cash out our USD Paypal funds directly into our USD bank account. This would save us the super expensive currency conversion costs.

It would be greatly appreciated if you could provide us with (1) an explanation and (2) a solution, meaning a way to get our money from Paypal into our account without having to pay hidden fees or excessive currency conversion costs.

I'll be looking out for your response.

[suriam79]

I have the same problem. I have one card that I used to withdraw the USD amount to that USD card. Now they blocked so I can't do that anymore.

Once I am able to withdraw my last money, I'll be leaving Paypal for sure. This is plain and simple robbery. It's very hard for me to understand why they force a currency exchange to euros when the final account is in USD for example. Basically you get 2 exchanges in the same transactions and in the end you don't get the same amount you initially transfered because of those 2 conversions and because of the unique exchange rates Paypal uses. Nobody else has an even close rate, because nobody else is trying to steal people's hard worked money like Paypal is doing.