Transfering money from PayPal EURO Balance in Australia to EURO Bank Account in Australia?

Discussion in 'Business & Tax Advice' started by MoneyQuestions, Feb 12, 2016.

  1. MoneyQuestions

    MoneyQuestions Newbie

    Feb 12, 2016
    Likes Received:
    Hi guys,

    I have an inquiry about a very specific situation.

    I have an Australian PayPal account with Euros.

    I also have an Australian bank account in Euros.

    To get those Euros from my PayPal account to my Bank account, I would have to convert the Euros to Australian Dollars, withdraw the Australian Dollars to my bank account, and then convert those Australian Dollars back to Euros.

    That creates 2 unnecessary currency exchanges with lots of fees.

    So I am looking for a direct transfer solution that allows me to send them Euros from my PayPal account, and then transfer those Euros directly to my Euro bank account in Australia via Wire Transfer. That way, the Euros stay Euros and never get converted and I only pay for the transfer and not for the currency exchange.

    I'm hoping this type of service exists considering PayPal charges your foreign currency balance when making a foreign currency payment to avoid exchange fees (e.g. if I pay 10 Euros from my Australian PayPal Account, it will always withdraw from my Euro balance instead of from my Australian Dollar balance without charging any exchange fees).

    So this service would need to be able to accept PayPal payments in Euros and then be able to Wire Transfer those Euros to a bank account in Australia.

    Does anyone know if this type of service exists?