Foreign Currency Account | Australian Bank but USD$ Account | Random Deposit Verification Rejected

[DMC231]

- Australian Paypal Account

- Australian Bank (CBA)

- Foreign Currency Account in USD $$ (as part of CBA): Product Link

- Account Number and Sort Code are standard format. 

Paypal rejecting the account with the following:

The two deposits that PayPal sent to your bank account as part of the bank confirmation process were returned to us for the following reason: Bank account invalid

Assuming Paypal has tried depositing the funds in AUD $ to a USD $ account, which may have caused an issue. 

Our business needs to send and receive USD $, and the Foreign Currency Account is designed for this reason, even though we're based in Australia.

How can I resolve this?

Archive Threads with Same Issue Unresolved:

https://www.paypal-community.com/t5/My-Money-Archives/Link-a-foreign-currency-account-to-my-Australi...

https://www.paypal-community.com/t5/My-Money-Archives/Adding-a-foreign-currency-account/m-p/2359943

[kernowlass · Accepted solution]

@DMC231 

You can only add a U.S bank account that has been opened on U.S soil.

You can't add a virtual / digital bank account like Wise or Payoneer OR a USD currency account.

[Motorcycle_Eye]

@kernowlass 

Hello Sir,

I have same issue with US dollar currency account in Canadian Bank, however RBC (royal bank of canada) has a US bank account for Canadian, is that possible to hook with Paypal? https://www.rbcbank.com/cross-border/us-bank-accounts.html

Thanks lot!

[DMC231]

Thanks @kernowlass. That's disappointing. 

So then, to send / receive USD for my Australian business  - the only way to do it via Paypal is to risk currency exchange rates / fees on every single transaction?