Experience with cashing out big sums on new/ stealth PayPal accounts?

Dr. Tomahawk

Dr. Tomahawk

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Hey,

I have a 6-digit USD amount on my fully legal business PayPal account. Unfortunately, my local currency is EUR, and I can not withdraw USD. PayPal automatically converts it to EUR => %2.5 fees, which is relatively high.

Furthermore, I own two USD bank accounts (Wise & Revolut). My ONLY option to withdraw the USD PayPal balance to my USD bank account would be the following:
  1. Create a U.S. PayPal account (with U.S. address etc.)
  2. Add the USD bank account there
  3. Transfer the money from my personal account to the U.S. account
  4. Withdraw

However, I don't think this would go under the radar for big sums. Does anybody have experience? I already called PayPal support multiple times. This would be the only solution but illegal for me since I don't have a presence in the U.S.
 
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I can only say bad stuff about PayPal.. Not a long ago my friend sent me a relatively small amount as F&F and they asked for a receipt for it :D How cringe is that.. I would avoid transferring big amounts with them. They are very picky these days. I suggest you just buy an aged US PayPal account and that’s it. I did it, because I had a similar issue in the past.
 
Wise and Revolut don’t give you a EUR account?
That’s the entire point of them no?
If the main PayPal is under all of your real
Information then you should easily be able to open a multi current rey account.

But I’m confused why can’t you add the US bank to your US business PayPal and withdraw that way?
 
Just cash out to your account, it really doesn't worth the time and possible loss of money by doing this... Also you have a fx fee anyways because you are withdrawing usd to eur.
 
James2774 said:
Wise and Revolut don’t give you a EUR account?
That’s the entire point of them no?
If the main PayPal is under all of your real
Information then you should easily be able to open a multi current rey account.

But I’m confused why can’t you add the US bank to your US business PayPal and withdraw that way?
Click to expand...
The problem is that I don't have a US PayPal account yet. I'm located in the EU and I'm ONLY allowed to add Sepa bank accounts (= EUR accounts) on my local PayPal.

Creating a US PayPal account wouldn't be easy as I don't live there and it may create problems with bigger sums.
 
Dr. Tomahawk said:
The problem is that I don't have a US PayPal account yet. I'm located in the EU and I'm ONLY allowed to add Sepa bank accounts (= EUR accounts) on my local PayPal.

Creating a US PayPal account wouldn't be easy as I don't live there and it may create problems with bigger sums.
Click to expand...
You could open a US LLC and then legally open a paypal, but then be hit with even larger processing fees sending it.
I wonder if you could send it as friends family. You can of course, 10k per transaction I think, and you have proof it’s not a sale if they ask.
I’d ask PayPal if that’s an option to move money to yourself do they don’t flag it.
 
Don't get me wrong, but I pay myself ~10% in fees for each transaction I do (ATM fees, currency exchange USD/EUR/my currency, etc) and I'm used to it. 2.5% is peanuts for your amount.
 
Dr. Tomahawk said:
Hey,

I have a 6-digit USD amount on my fully legal business PayPal account. Unfortunately, my local currency is EUR, and I can not withdraw USD. PayPal automatically converts it to EUR => %2.5 fees, which is relatively high.

Furthermore, I own two USD bank accounts (Wise & Revolut). My ONLY option to withdraw the USD PayPal balance to my USD bank account would be the following:
  1. Create a U.S. PayPal account (with U.S. address etc.)
  2. Add the USD bank account there
  3. Transfer the money from my personal account to the U.S. account
  4. Withdraw

However, I don't think this would go under the radar for big sums. Does anybody have experience? I already called PayPal support multiple times. This would be the only solution but illegal for me since I don't have a presence in the U.S.
Click to expand...
what about buy cryptocurrency via your PayPal account?
 
cryptounions said:
what about buy cryptocurrency via your PayPal account?
Click to expand...
He’s looking to avoid a 2.5% currency conversion fee, PayPal to Crypto would cost a lot more.
Unless coinbase EU supports PayPal as it does in the US?
Actually even if so the coinbase/PayPal fee would be more than 2.5 prob 4%
 
That 2.5% youre trying to save is already lower than the fees you'll pay if you transfer to your stealth account, and very much better than risking both accounts if you send large sums as FnF. Withdraw your money on your account PROUDLY.
 
Last edited:
6 figures. I would probably pay the conversion fee.

Or pm me and we write up a contract, pay me 1%;)
 
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