Transfer Funds in USD (not SGD) back to multi-currency account

[CrystalZD]

Hi there, I would like to Transfer Funds back to my bank account in USD (not SGD), how do I do this? I already hav a multi-currency account with my bank which can receive USD. I have also linked both by Debit card and bank account with PayPal, any help would be greatly appreciated, thank you!

[sharpiemarker]

@CrystalZD 

PayPal always convert foreign currency to local currency (SGD) on the withdraw to local bank, except when transferring to a US based bank account (requires ABA routing number) in USD. A local multi-currency bank account will cause double conversion.

https://www.paypal.com/sg/webapps/mpp/ua/useragreement-full#withdraw

”You may only withdraw the balance in the opening currency of your account or such other currency that PayPal supports for withdrawal in your registered country/region. In order to withdraw the balance in your account which is held in another currency you will have to convert the currency to the opening currency of your account, or it will be converted for you at the time of your withdrawal. PayPal's transaction exchange rate, including our currency conversion fee, will be used.”

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Withdrawal Fees for Singapore (SG):

Bank account

No Fee (when no currency conversion is involved) where withdrawal amount is greater than 200.00 SGD

1.00 SGD, if withdrawal amount is less than 200.00 SGD

US Bank Account: 3.00%

https://www.paypal.com/sg/webapps/mpp/paypal-fees#statement-12

So, if you want to withdraw USD in USD, you need to link a US bank account. If you use Transferwise, for instance, that let you have bank accounts from different countries (cross border account), link the US bank account to PayPal and withdraw to it. Virtual banks such as Transferwise are not very compatible with PayPal so that this option may not be viable or allowed.

SG bank account that holds multi-currency will cause double conversion. PayPal converts USD to SGD, your bank converts SGD to USD.