Linking USD bank account but shown as EUR

[ClaudiuC]

Hello,

I've just linked our bank to paypal and provided the IBAN code for our current USD account, but now when we want to withdraw from PayPal to that account, it is detected as EUR account and PayPal forces a conversion from USD to EUR. How can I stop that since we can receive only USD in our bank account?

Thank you

[sharpiemarker · Accepted solution]

@ClaudiuC 

Not possible, PayPal is obligated to convert to your originating account currency on withdrawals so linking a USD currency bank account won't work so don't bother with it or expect double conversion: USD to EUR at PayPal and EUR to USD at your bank. Only an actual US bank account opened on US soil that uses Routing Number is permitted, not IBAN, SWIFT, etc.

You may withdraw to a EUR credit, debit, or prepaid card to stop the double conversion. If you want to spend and hold USD, it's best to keep it in PayPal balance in a USD currency balance and then withdraw to EUR when you want to do a one time withdraw of all currencies to close the account.

[ClaudiuC]

Thank you so much for your explanation. That means I will use the card as we did before and forget about the bank account, at least for the moment.

Best regards,

Clau