Can I transfer an amount from my paypal to my bank account in another currency?
My PayPal's primary currency is CAD and my bank account is in CAD, but I received a payment in Euros and would like to have PayPal transfer to my bank account in Euros instead of doing the conversion before transferring. Is there a way to do this? When I try transferring the Euros, it automatically makes the conversion but I'd rather use my bank's conversion because they charge less than PayPal.
If you hold a balance in your PayPal account:
- We may allow you to convert the funds to a balance in another currency. If you convert funds in your account, PayPal’s transaction exchange rate (including our currency conversion fee) will be used. We may, at our discretion, impose limits on the amount of money you can convert or the number of conversions you can perform.
- You may only withdraw the funds in Canadian dollars. We do not permit foreign currency withdrawals, including U.S. dollar withdrawals to USD-denominated accounts or debit cards. In order to withdraw funds in your account held in another currency you will have to convert the currency to Canadian dollars, or it will be converted for you at the time of your withdrawal. PayPal’s currency conversion rate, including our currency conversion fee, will be used.
Ensure that you always receive payments in CAD in the value you feel is acceptable and let the sender deal with choosing the most ideal exchange rate between PayPal or their card issuer.
Kudos & Solved are greatly appreciated. 🙂
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