Can't transfer USD to USD account because it's based in Singapore

chiefsupercharg
Contributor
Contributor

I've been trying for the past 6 months now, to transfer my USD balance into my USD denominated account in Singapore. PayPal insists that I need to convert my USD balance to SGD (Singapore dollars) and then my bank will convert it back to USD. Why do I need to take two foreign exchange hits because PayPal can't do basic things like transfer my money to my bank? 

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1 REPLY 1

PayPal_Michael
Moderator
Moderator

Hello, @chiefsupercharg.

 

I certainly understand your concern about not being able to transfer money to your bank account in a preferred currency. I'm sorry for any inconvenience, but PayPal is only able to transfer funds to a local bank account in the local currency. Even if your local bank account is able to receive funds in a different currency than the local currency, PayPal is still only able to transfer funds in the local currency.

 

If you have a US bank account, you certainly may use that to transfer funds in USD without undergoing a currency conversion. I hope this helps to clarify things. Thanks for your patience during this time.

 

Sincerely,

 

Michael

PayPal_Michael

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