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Ya PayPal rip customers off. Not about a margin, about an excessive margin. Daylight robbery. Use modern fintech companies instead where you can convert at interbank rate.
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Why does PayPal not allow a user to link a foreign currency account and transfer that money out of their account? I am predominantly EUR but have a GBP balance, and a GBP current account, but PayPal won't allow me to transfer it to my GBP account. Instead they want to convert it to EUR and give a really bad exchange rate? Really frustrating!
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Jeez it sounds like you work for PayPal with that response! With new banking apps can get the interbank rate and avoid these punitive rates. PayPal doesn’t give good rates.
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Well PayPal are not giving a fair rate. You can get the interbank rate (the good rate) by using modern banking apps (eg Revolut etc). Link your card to PayPal and then you can transfer in USD or EUR on that card rather than using the PayPal exchange rate. You’ll basically save a lot of money. Unfortunately PayPal give a horrid rate, anything beyond making a profit.
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