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 you︀ as possible.

 

[Chevron]

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

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

 

[Novice]

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]

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]

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

 

[VESTANON]

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!

 

[gab1]

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