Paypal exchange rate

Hi there,

are there any methods to avoiding the insane exchange rate that paypal forces unto European countries? It's insane how they can get away with this but who are we right?

Long story short: All my customers pay in USD and i am from the Netherlands. So paypal forces me to change USD to EUR even though my bank accepts USD. I tried Revolut with no luck. Trying transferwise but of course you've gotta try and persuade a paypal customer service employee to add it to your account. (and there is literally 0 phone support right now due to covid)

As if the fees are not killing the business enough.

Hi,

I was fighting many times with Paypal about the FX fee.
I successfully forced them to add several currency bank account to my paypal account so I have settlements like for like. It means you need to have bank accounts in each currency. You will avoid the fee.
Fees are between 1.5% and 4% (for PLN for example..crazy).

Hi there! i got bank accounts with the currency's that i require, they refuse to add them though because they keep telling me i got a dutch paypal account

You can try to tell them that Paypal is an international company and FX should not be an issue? They always advertise that Paypal is big and amazing. You can tell them that they receive a USD payment, and paying you in USD is a simple transfer of funds. No conversion needs to happen.
Having a dutch pp account has nothing to do with it and you should be able to add bank accounts. They want to make more money. If you consider this high FX fee across all their clients, imagine the commission. Its even more than processing commissions.

They also add a cross border fee (1%) if you process a different currency from a EU pp account (same if you process a non USD transaction from a US paypal account).
So the fee structure for a USD transaction looks like (for example):
Processing fee: 1.9%
Fix fee per transaction: 0.30 cts
FX fee: 2.5%
Cross border fee: 1%
Then you have a lot more fees like refund fee, chargeback fee, etc.
So the "official" rates on the PP page is clearly a lie. PP is a scam anyway

I currently process like for like in 7 currencies (they did not want more for now, USD GBP EUR SEK DKK NOK CHF)

Oh yes, that we can agree on. Paypal is a big scam. I really can't believe how they weren't policed yet by governments on their anti-business practices. Hell, i pay them two times for one damn transaction (three if you count the fact that customers pay a small fee too)

Thanks for the advice. Guess i will just have to be an annoying customer that keeps demanding shit till i get it. It's sad that i have to do so because i really don't want to be that person. But some just leave you no choice.

I lost a lot of money due to this alone, but trust me its not going to stop anytime soon, unless something very drastic happens. PayPal board members have meetings and they can clearly see that profits from these FX transactions are a huge part of their revenue. They even increased USD to AUD conversion recently as I was charged about 4.5% to change from USD to AUD. They suck. Is there any way I can talk to customer support? Theres got to be a number that works right?