When using Paypal to transfer to your bank from another currency, what exchange rate is being used? Is the currency converted first in Paypal before being sent to the bank or do they transfer the money and the bank then uses its own exchange rates to convert the money back into whatever local currency it is being sent to? Take note I live in the Philippines and I work as a freelancer where I am paid dollars instead of pesos. Paypal rates are kinda low when converting dollars to Peso so I was wondering if this is the case or not. I want to get as much money as possible and take advantage of the higher exchange rates for my bank now that they have removed transfer fees when sending money from Paypal.
