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This steps are not working any more: PayPal has disabled this option in the new UI.
Any more help? This is damn the worst thing what they could do!
Same thing with me.
I have a friend in California. He sent me a $300 USD. I'm here in the Philippines and my account is registered in PH. I thought I would receive a clear $300 USD in my PayPal funds. But what happened is that the 300 USD was automatically converted to PHP. I want to get $300 clear but it was automatically converted. So sad.
Forget about PayPal or accept that it robs us !!!!!!!!!!!!!!
In the background there are huge profits from currency convertion.
Maybe a collective lawsuit for Finance Ombudsman could help.
I have registered several bank accounts on PayPal UK.
Among other things, I have registered an account with CITIBANK UK where I have an account in EUR being naive that
I can use it paying for purchased items in EUR zone without convert currency GBP into EUR.
Also in the case of a full refund, the entire amount in EUR may be transferred directly to my account in EUR to CITIBANK
What a naivety on my part.
I bought an item in Germany for 315 EUR.
I paid from the account I have in EUR at Citi Bank UK.
It turned out that the account was charged 337 EUR instead of 315.
PayPal converted 315 EUR to GBP and reported a withdrawal of 315 EUR
and Bank converted again GBP to EUR and issued EUR 337.
End, no turning back.
Yes, I have several times.
Recently, the client has returned to me as a private transfer of 21 EUR
PayPal Balance is set to EUR currency.
21 EUR got there, but every attempt to transfer to my bank account which is carried out in EUR causes conversion into GBP.
I have suspended the transfer transaction and wrote a complaint.
Here's the answer.
PayPal writes straight
All your accounts (no matter what currency) is dependent on PayPal account which is itself as GBP default.
A good lawyer is needed.
I know how important for you to transfer funds to your Euro bank account from your UK PayPal account.
To begin with, please be advised that your account is under UK PayPal account, which means even your Primary currency on your account is already in Euro, still the PayPal account itself is on GBP default.
The purpose of Adding a different currency on your account balance is for you not to have a currency conversion whenever you received the payment using different currency, say for example EURO currency.
It is my pleasure explaining this matter for you.
this is crazy! I would accept it if PayPal applying a market exchange rate! But they will charge more or less 5% of fees!! Crazy! I will never use PayPal again