PayPal withdrawal and currency conversion

Novun

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Hello
I have run into an interesting issue that most non-us residents probably face. Since most of us sell products and services using USD we have more USD than any other currency.

It would make sense if you decide to withdraw this money to your bank account to do so in USD to avoid any conversion fees. However, it seems PayPal does not allow you to withdraw USD if your local currency is something else (like EUR or GBP). You can only withdraw in your local currency, even if you have a USD denominated bank account.

In most countries, you can't even use card withdrawal to use the Visa/Mastercard network.

The PayPal conversion is anywhere between 2.5-3.5% depending on your local currency. This is quite high.

Any ideas how to solve this issue?
 
Get a US bank account, i don't think you can do anything else, if they allow to withdraw to local currency only.

Transferwise Borderless provides you with a US VBA, which apparently works with PayPal. If you're in EU, you can get the Transferwise Mastercard. I won't link the source of the info, because it contains affiliate links, but from the post and the comments it appears, it does work and people successfully set it up from AU and CA too for instance.
 
I heard that Transferwise Borderless sometimes work and sometimes it does not. Some users wrote elsewhere that they had to call PayPal and then they added it. But a lot of people still experiencing issues with it as this is a virtual bank account. I will try this in a few days as well.
Any other ideas?
 
Paypal conversion and commission is pretty high. You might loose up to 10% of the total amount.
 
Did you even read the thread? Yes, the whole point is to save on the commission. lol
 
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