I receive money in USD, I have a USD bank account. I live in Canada. Whenever I try to withdraw my USD funds, PayPal converts it to CAD, then the bank rejects the transaction. My primary currency is set to CAD. So now I've lost some money in an unnecessary conversion which will incur another loss converting it back to USD. It's as easy as just not doing a conversion. Just send it as is; Or as it was too the bank.... And PayPal doesn't seem to respond... To anything, how do I stop these conversions? I've looked at similar threads, I'm already doing what I'm supposed to as far as I know.
@Alpha177 wrote: I receive money in USD, I have a USD bank account. I live in Canada. Whenever I try to withdraw my USD funds, PayPal converts it to CAD, then the bank rejects the transaction. My primary currency is set to CAD. So now I've lost some money in an unnecessary conversion which will incur another loss converting it back to USD. It's as easy as just not doing a conversion. Just send it as is; Or as it was too the bank.... And PayPal doesn't seem to respond... To anything, how do I stop these conversions? I've looked at similar threads, I'm already doing what I'm supposed to as far as I know.
Primary currency designates what currency you send and receive funds with in your PayPal account.
It just seems to me that in order to withdraw in USD from non-US PayPal account, you need to link a US bank account from a bank on US soil. Not simply a bank account that holds US currency because PayPal will always convert to your local currency of your PayPal account and your bank converts it to USD again. I've only heard complaints from users just like you who do this but not from US citizens living or traveling abroad who actually maintains a US bank account on US soil linking it to a non-US PayPal account.
Think about it...the US wants its citizens to repatriate the income they make overseas. So does your country or any country and you think you're trying to get one over and make more with difference in currency but no, the powers that be got one over on you. So it is best to accept payments in your own currency what you want to make instead of speculating how much you can make on the exchange because you can't, it ends up costing you more as you have experienced. Someone is more smarter and got that loophole covered. Particularly these days.
My original post should read that my primary currency is set to USD not CAD.
That makes little sense to me. As any individual in any first world country can easy obtain the currency of any other first world country. I believe this is simply paypal being difficult and attempting to skim a profit on unnecessary conversion. if I have to convert to CAD, transfer to a CAD account and then convert from within the bank, then I suppose that's what I'll have to do. That also means I'll be attempting to cut PayPal out of the process. I have no tolerance for theft.
This is pure legal robbery! I've received USD, paypal took a hefty chunk as a fee, THEN converted my currency to EURO and when I withdrew, it once again converted it to GBP! WTH!?!?
Is this their way of making profit, can't live off their big fees anymore?
PayPal support is never responding, I've opened three support tickets, they all just disappeared after a FEW days, like they didn't exist, I got no response, no nothing!
