Hello,
On 25 September 2019 i did a funds withdraw from PayPal account to my Credit card, as usual. During this withdraw of 1900 GBP, PayPal forced me to do the withdraw in ALL, instead of GBP (the currency i choose to withdraw) and use PayPal currency conversion rate instead of card issuer’s conversion rate: I basically did not give me an option to choose between PayPal currency conversion rate or card issuer’s conversion rate. I am a merchant making large amounts of withdraws in GBP and EUR currency daily, and being forced to use PayPal's conversion rate is costing me huge loss, daily. Only this last withdraw of 1900 GBP cost me the loss of 65GBP. I tried again today, 27 September 2019, to make a withdraw, and it is still forcing me to withdraw to my local currency (ALL currency since I am based in Albania).
This change was introduced by PayPal just a few days ago. On September 22nd i did a withdraw directly to GBP currency, with no problems at all.
I need to note that my wife's PayPal is not yet affected by this change (Thank God).
Needless to say that this will have also legal impact for Paypal, since this policy forces buyers to use Paypal's currency exchange rate (which is around 4% worse than market's average) , instead of their bank's rate. Anyone that has any further information on this new policy by PayPal would be really helpfull. Thank you in advance,
mlc_al
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