PayPal USD Withdrawal to EMI without 3% Fee? Avoid PayPal Exchange Rate?

[Chevron]

Hey folks, we are based in the Czech Republic and UK; and our small business receives USD to a UK PayPal account - we can not avoid using PayPal for some of our income sadly. How to withdraw those USDs to a local European currency and avoid PayPal's horrible exchange rate?

I used to use TransferWise to receive withdrawals from PayPal, which was actually great until Paypal started charging a 3% fee for withdrawals to virtual banks 2 years ago.

I have considered using Zenus bank, however there is a $50 monthly fee (still much better than using PayPal directly for conversion) and I am not sure if it will even work. PayPal > Zenus > Wise or Revolut.

To clarify, we went to receive USD to a UK or Czech PayPal account and get it in to Czech Crowns with the best conversion rate and without fees.

Any advice? Thank you in advance!

 

[Novice]

I guess PayPal have done their best to prevent Europe countries from withdrawing in USD. (they tell you it's enforced on them/Not allowed to add a bank account outside your registered Country.)

It was possible. Now, I can't see how it would work in any European Country.

Best thing I've come across was using Revolut Card and asking PayPal support to change the card currency to USD. As long as the card has an address within the company country, they will allow it after pushing them to do the currency change.

They're doing this for a reason. They want as much profit out of you as possible.

 

[Chevron]

Novice said:
I guess PayPal have done their best to prevent Europe countries from withdrawing in USD. (they tell you it's enforced on them/Not allowed to add a bank account outside your registered Country.)

It was possible. Now, I can't see how it would work in any European Country.

Best thing I've come across was using Revolut Card and asking PayPal support to change the card currency to USD. As long as the card has an address within the company country, they will allow it after pushing them to do the currency change.

They're doing this for a reason. They want as much profit out of you as possible.
Click to expand...

Thanks, I realise it may not be possible to withdraw from PayPal in USD to an EMI

I di dtry Revolut and get the same 3% fee when withdrawing from PalPay > Revolut

 

[Novice]

Chevron said:
Thanks, I realise it may not be possible to withdraw from PayPal in USD to an EMI

I di dtry Revolut and get the same 3% fee when withdrawing from PalPay > Revolut
Click to expand...

Add the card (only visa would work. Mostly, the physical card is visa). Contact support to ask for card currency change (from GBP to USD)

 

[Chevron]

Novice said:
Add the card (only visa would work. Mostly, the physical card is visa). Contact support to ask for card currency change (from GBP to USD)
Click to expand...

Yes I did that and couldn't withdraw from PayPal. Went all the way up PayPal support and they said they do not allow withdrawals to Revolut.

 

[Novice]

Chevron said:
Yes I did that and couldn't withdraw from PayPal. Went all the way up PayPal support and they said they do not allow withdrawals to Revolut.
Click to expand...

Seems like they've closed all holes and you can't escape their conversion costs.

 

[VESTANON]

Chevron said:
Yes I did that and couldn't withdraw from PayPal. Went all the way up PayPal support and they said they do not allow withdrawals to Revolut.
Click to expand...

probable scenario, get a paypal acct duly setup with Bank card verified and attached to paypal acct.

send funds paypal to paypal and cashout via the card attached to the receiving paypal. physical card would be shipped to you.

moreso for new paypal acct, funds must be sent in trickles as it gets aged, larger amounts can be adhered to..possibly the receiving paypal should be a business paypal acct. rea#44!

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[gab1]

Last I checked Paypal also introduced a flat $35 fee for USD withdrawals to non-US banks.