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how do i transfer the money to my bank in currency dollars and not ILS?

New Community Member

how do i transfer the money to my bank in currency dollars and not ILS?

i want in my bank account the money that i transfer will be in USD and no ILS

2 REPLIES 2
Esteemed Advisor

Re: how do i transfer the money to my bank in currency dollars and not ILS?

@gadi1122 

 

Have to link a US bank account to transfer in USD. There will be a 4% fee.

 

If you transfer USD to local USD bank account, there will be double conversion. PayPal will convert USD to ILS and then your USD local bank will transfer back to USD.

 

If you do not have a US bank account, PayPal must convert and transfer in ILS to your local bank.

 

Can I use PayPal to manage multiple currencies?

No. Following the removal of the currency conversion function in Israeli PayPal accounts, you can choose to receive future payments only in Shekels.

Here’s how to set your payment receiving preferences to receive future payments only in Shekels:

 

  1. Go to your Seller preferences page.
  2. Click Update next to ‘Block payments.’
  3. Under ‘Allow payments sent to me in a currency I do not hold’, tick the box next to ‘Yes, accept and convert them to Israeli New Shekels’.
  4. Click Save.

In order to receive your future payments only in Shekels, you’ll have to close all other currency balances in your PayPal account. Make sure to withdraw any money left in the currency balance before closing it.

 

Here's how to close a currency balance:

  1. Go to your PayPal balance page.
  2. Click Manage currencies.
  3. Select the currency you would like to close.
  4. Click Close Currency.

 


Kudos & Solved are greatly appreciated. 🙂
New Community Member

Re: how do i transfer the money to my bank in currency dollars and not ILS?

So what do you recommend the best way to save on conversion fees?

thank you for ur quick reply 🙂