As a business account Paypal has always allowed me to hold money in other currencies, such as euros or pounds, and allow the euros / pounds etc. to accumulate until I convert them to dollars when I transfer them to my US bank account, with Paypal doing the conversion to dollars at their own conversion rate. On this page: https://www.paypal.com/us/brc/article/how-to-accept-foreign-currency-with-your-business-account Paypal says: ""Looking to receive payments made in currencies other than U.S. dollars and hold them in your PayPal Business account? Follow the steps below to update your Preference for receiving payments. The benefit here is you can hold balances in foreign currencies and arrange to convert yourself."" #1) What does it mean "arrange to convert yourself"? I'd like more information on how to do this, but I have yet to find any. #2) I was speaking to a Paypal rep on the phone a few days ago asking some question regarding holding a Euro balance, a Pound balance, etc. I asked her if we could send euros from our euro balance (using "send money") to someone in Europe without ever transferring them to dollars. She said we could do that, without a fee, if the person has a "personal" euro currency Paypal account (someone based in Europe). However, when I log in to Paypal and I go to "Send Money", there is no option for me to choose "euros" as the sending currency, only dollars. If I am "holding" Euros, and I want to send Euros to someone, why can't I choose "euros" as my "sending" currency as well as my "receiving" currency? I realize Paypal likes to make money on the spread — but I have zero reason to convert my euros to dollars only to send them to someone again as euros? How can I send me Euros to someone as Euros? Is there something specifically in US Law prevents Paypal from being able to allow me to send the money I am holding as Euros in my Paypal account out as a Euro Payment to someone? If so, can Paypal please cite the statute? I'd love to read it.
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